FCA crypto U-turn – everything retail investors need to know Partner After banning crypto Exchange-Traded Notes (ETNs) for retail customers in January 2021, the Financial Conduct Authority (FCA) reversed its position in October 2025, meaning retail investors can once again purchase exchange-listed crypto instruments, such as ETNs. According to FCA research, conducted in conjunction with YouGov, 91 per cent of UK consumers are aware of cryptoassets. [...]
The FCA’s new targeted support regime risks further confusion for consumers Opinion The FCA’s new “targeted support” regime, introduced to bridge the gap between generic guidance and regulated financial advice, risks being more complex and less effective than the system it replaces, says Matthew Bowles Last Monday, the Financial Conduct Authority (FCA) formally introduced its new “targeted support” regime. This is an attempt to bridge the long-discussed [...]
Treasury reforms to banks ombudsman threaten independence, MPs warn Regulation The Treasury’s reforms to the banks ombudsman threaten to upend the body’s independence, a group of influential MPs have warned. The government revealed its overhaul proposals for the financial ombudsman service (FOS) on Tuesday in a bid to curb concerns it had behaved as a “quasi-regulator”. But a fresh letter to City minister Lucy Rigby [...]
Monzo slammed for ‘shaming’ end of year reviews March 7, 2026 Digital bank Monzo has been accused of overstepping the mark by using data it holds on customers to call out their spending habits and lifestlye choices. The bank used data to tell one customer with a past eating disorder that she eats a lot of fast food, spends “more than most” on Just Eat takeaways, [...]
Banks ombudsman complaints slump after Treasury overhaul February 5, 2026 Complaints to the banks ombudsman fell to the lowest level in two years in the last quarter of 2025 as changes from regulators and Treasury ease the caseload. Between October and December the Financial Ombudsman Service (FOS) received 47,300 complaints – a major drop from the 68,400 lodged the year prior. It also maintains a [...]
Banks to pay ombudsman more as Treasury crackdown costs £8m November 27, 2025 Banks will pay more to the Financial Ombudsman Service in the next year as the body strums up cash for its bill to meet the Treasury’s clampdown. Financial services will pay the FOS £86m in the 2026/27 financial year – an increase of £16m – under new proposals, which aim to beef up the Compulsory [...]
Complaints to banks ombudsman fall after Treasury clamp down October 29, 2025 Complaints to the banking ombudsman have tumbled in the three months to September 2025 after the Treasury launched its own clamp down. The Financial Ombudsman Service (FOS) recorded 46,300 complaints in the quarter, down from 73,700 in the same period last year. In the three months to June, 68,000 complaints were recorded. The fall followed [...]
Revolut, Barclays and Monzo top fraud complaints ranking October 1, 2025 Challenger banks Revolut and Monzo have topped the rankings for fraud and scam complaints filed to the Financial Ombudsman Service (FOS) as Brits flock towards digital offerings. Fintech juggernaut Revolut received the most amount of APP fraud complaints referred to the FOS at 1,875. Monzo scored third at 1,063. It comes as the pair continue [...]
Banks ombudsman fights for relevance amid Treasury crackdown August 18, 2025 The Financial Ombudsman Service is battling against a litany of obstacles as the government looks to “fundamentally” change its regulatory makeup. The organisation was rocked earlier this year by a leadership crisis following the abrupt departure of chief executive Abby Thomas in February. A Treasury Committee report, published in July, revealed Thomas had been dismissed [...]
FOS complaints tumbled ahead of motor finance ruling August 7, 2025 Complaints to the Financial Ombudsman Service (FOS) fell to their lowest in more than a year ahead of the motor finance ruling. The FOS received 68,000 new cases in April to June, down from 74,600 complaints in the same period of 2024. Motor finance complaints remained the highest grievance but dropped to 21,500 cases from [...]