FCA boss says criticism from MPs is not fair November 30, 2024 A report on Tuesday condemned the FCA as “incompetent” and “dishonest” and warned the body needs an urgent overhaul.
FCA ‘strengthens’ internal whistleblowing policy after backlash November 27, 2024 The Financial Conduct Authority (FCA) has said it will look to strengthen its internal whistleblowing policy after intense criticism over its handling of complaints from former staff. The City regulator said today it will clearly lay out how its chair and other non-executives can internally share information about whistleblowers in order to protect their confidentiality [...]
UK proposes earlier banker bonuses in bid to boost competition November 26, 2024 UK regulators have officially laid out plans for the country’s top bankers to get their bonuses years earlier in a bid to boost competition with rival jurisdictions. The Bank of England’s Prudential Regulation Authority (PRA) and City watchdog the Financial Conduct Authority (FCA) published proposals on Tuesday to reduce the bonus deferral period for most [...]
Damning FCA report ‘risks undermining’ London as a financial centre November 26, 2024 Criticism of the Financial Conduct Authority (FCA) is continuing to mount as a group of parliamentarians prepares to lay out a stinging report claiming the watchdog is “defective” and “incompetent”. In a more than 350-page report compiled over three years, set to be presented to parliament, the All-Party Parliamentary Group on Investment Fraud and Fairer [...]
FCA fines Macquarie Bank for fictitious trades after ‘serious failings’ November 26, 2024 Macquarie Bank’s London branch has been slapped with a £13m fine for “serious failings” which allowed one of its employees to record 400 fictitious trades. The Financial Conduct Authority (FCA) penalised the firm based on activity between June 2020 and February 2022. Trader Travis Klein, based on Macquarie Bank Limited’s (MBL) London metals and bulks [...]
Barclays fined over ‘reckless’ failure to disclose Qatar links November 25, 2024 The Financial Conduct Authority (FCA) has hit Barclays with a £40m fine today for failing to disclose ties with certain Qatari investors as it scrambled to avert a government bailout during the financial crisis. In a statement today, the City watchdog said the FTSE 100 lender’s conduct through during a capital raise in 2008 was [...]
‘FCA is not fit for purpose’: Motor finance lender bosses lash out November 20, 2024 Motor finance lender executives criticised the FCA performance of this sector, telling members of the Lords that the regulator is "not fit for purpose"
FCA bans director who stabbed man twice and concealed he was in jail November 18, 2024 A company director has been banned from working in financial services after stabbing a man twice in the neck and failing to notify the regulator of his conviction. Ari Harris was reprimanded by the Financial Conduct Authority today after his conviction following the incident in July 2020. He was found guilty of inflicting grievous bodily [...]
FCA to reshape ‘name and shame’ policy following City backlash November 13, 2024 The Financial Conduct Authority will “fundamentally reshape” its controversial 'name and shame' policy following backlash from the City.
UK banks could limit buybacks as car loan scandal grows November 13, 2024 Some UK banks could be forced to reduce upcoming investor payouts, analysts have warned, as the Financial Conduct Authority mulls whether to expand a probe into now-banned car loan deals.