Founder of whisky investment firm Hackstons tied to notorious ‘Wolf of Wall Street’ wine scam March 13, 2025 A high-flying salesman who made millions during his time at a business that was subsequently exposed as a notorious wine scam is now running a West End whisky investment firm having changed his name, City AM can reveal. Alphie Valentine, 41, is the co-founder and director of Hackstons, whose flagship store opened in Knightsbridge in [...]
Regulator will drop plans to ‘name and shame’ UK companies March 12, 2025 The Financial Conduct Authority (FCA) is set to announce that it will shelve plans to “name and shame” companies accused of falling foul of its rules. Following pressure to drop the controversial policy, the financial watchdog will U-turn on the new threshold for disclosing more public details on companies under investigation. Announced back in February [...]
FCA clarity on defence investment and green rules welcomed by MPs March 11, 2025 MPs have welcomed a move by the financial watchdog, clarifying that defence investments aren’t constrained by green or sustainability rules. The Financial Conduct Authority (FCA) released a statement on Tuesday morning clarifying their position on sustainability and defence investments. A spokesperson said: “Our sustainability rules do not prevent investment in or finance for defence companies. [...]
Motor finance complaints hit record levels March 4, 2025 The UK financial ombudsman has received a record number of complaints about motor finance loans in the most recent quarter, according to new data. On Tuesday, the Financial Ombudsman Service (FOS) said that complaints about car loan cases had surpassed credit cards as the subject with the most unresolved complaints in the financial sector. Some [...]
Payments regulator reportedly could be scrapped as No10 slashes red tape February 23, 2025 The UK’s payments regulator could be scrapped and folded into another regulator as part of efforts by No10 to slash red tape, according to Sky News. Ministers are mulling whether to abolish the Payment Systems Regulator (PSR) and amalgamate it into the Financial Conduct Authority (FCA), the broadcaster has reported. A decision could come within [...]
Number of FCA complaints about bosses ‘suspiciously’ low February 13, 2025 A recent FOI has revealed a "suspiciously" low number of FCA complaints about senior leaders, writes Lucy McNulty.
Bitpanda set to shake up UK crypto market after FCA approval February 12, 2025 European crypto platform Bitpanda is set to expand operations across the UK following approval from the City regulator. The Financial Conduct Authority (FCA) has permitted Bitpanda to bring its suite of 500 cryptocurrencies to the UK market. Bitpanda’s entry adds to the increasing pressures across traditional banks as they face competition from the modern abilities [...]
‘Imagine if a bank announced this’: Lawyers hit back against FCA email deleting plan February 11, 2025 The City watchdog intentions to delete its emails after 12 months "is very much at odds with what it expects the industry to do", warns lawyers
Number of misleading financial ads removed by regulator doubled in 2024 February 7, 2025 The FCA has said it has stepped up its actions after witnessing a "growing number of misleading and illegal financial promotions" adverts
‘Deregulation is essential’: Starmer vows to slash red tape in bid for growth January 29, 2025 Keir Starmer vowed to deregulate Britain and cut through “thickets of red tape” today as he tried to reboot his government’s handling of the economy following months of anaemic growth and criticism from business. In an article for the Times, the Prime Minister wrote “deregulation is essential” and warned investors were shunning the UK due [...]