FCA boss: Watchdog’s mindset ‘is changing’ on financial advice September 24, 2024 The Financial Conduct Authority (FCA) has said its “mindset is changing” as it attempts to make financial advice more accessible to consumers. The watchdog is aiming to shift the way it regulates to take a “more outcomes-based approach”, said Sarah Pritchard, executive director of markets and international at the FCA, in a speech today. With [...]
FCA chair cleared of wrongdoing in whistleblowing case September 23, 2024 Financial Conduct Authority (FCA) chair Ashley Alder has been cleared of wrongdoing after an investigation over his handling of a whistleblower complaint. Last month, a former employee of the FCA claimed that Alder had failed to keep their identity secret, with a second former employee coming forwards with a similar allegation shortly afterwards. The FCA [...]
FCA clamps down on hundreds more City firms in ‘robust’ enforcement push September 5, 2024 The Financial Conduct Authority more than doubled the amount of companies it banned from working as regulated companies last year as it looks to beef up its enforcement action and clampdown on wrongdoing in the City.
FCA goes six months without registering a single crypto firm amid criticism of tough regime August 27, 2024 The City watchdog has gone six months without registering a crypto firm, amid criticism that its tough approach to regulation poses a risk to the UK's competitiveness in digital assets.
Home REIT: Beleaguered trust targets lifting of trading ban August 23, 2024 Home REIT has laid out its plan to apply to the Financial Conduct Authority to restore the trading of its shares, as the beleaguered trust’s chair admitted facing “very significant challenges”. The trust was launched with the intention of providing social housing to the homeless, but has been pummelled with multiple scandals over the last [...]
FCA fires another warning shot at insurers over consumer failings August 21, 2024 The Financial Conduct Authority (FCA) has fired a warning shot at the insurance industry today amid concerns firms are flouting its stringent consumer duty rules and failing to deliver value for customers.
PwC fined £15m by FCA after London Capital & Finance fraud failure August 16, 2024 PwC has been fined £15m by the Financial Conduct Authority after it failed to alert the regulator that London Capital & Finance (LCF) might be involved in fraudulent activity. In the first ever fine issued by the FCA to an audit firm, the watchdog said that PwC had encountered “significant issues” throughout their 2016 audit [...]
FCA fines Cyprus-based trading broker £276,100 for ‘pressuring’ customers to put money at risk August 14, 2024 The City regulator has fined Cyprus-based trading broker Forex TB Limited £276,100 for failing to treat its customers fairly and providing unauthorised investment advice.
Leeds-upon-Thames? How the West Yorkshire heartland is luring British institutions away from London August 14, 2024 Over the past few years Leeds has emerged as a go-to destination for British institutions looking to venture beyond the M25. Since 2018 Channel 4, the Bank of England, the Financial Conduct Authority and the UK Infrastructure Bank have all opened hubs or expanded their presence in the city, adding hundreds of new jobs and [...]
Secure Trust Bank upgrades cost-cutting target as FCA review weighs on earnings August 14, 2024 Secure Trust Bank has ramped up cost-cutting efforts, while a review by the City regulator affecting its vehicle finance arm weighed on the firm's earnings in the first half of 2024.