Number of claims management firms halves after FCA clampdown Regulation The number of claims management firms authorised by the UK’s financial watchdog has nearly halved since the beginning of the decade after the regulator “raised the bar” for firms in the sector. A Freedom of Information request by financial services consultancy Broadstone revealed 483 claims management companies (CMCs) operate in the sector, compared with 942 [...]
FCA chief: We can’t solve every problem with new rules Regulation The Financial Conduct Authority will avoid introducing fresh rules as its stock response to new forms of market failure, its boss has said, as the regulator looks to avoid time-consuming consultation processes and speed up its action. Nikhil Rathi told the Fairer Finance podcast that “not every problem can be solved quickly” by the watchdog [...]
Allow pensions savings to go into housing deposits, says FCA chief Personal Finance The head of the financial watchdog has suggested that the UK should have the “contentious debate” about whether pension savings could be put towards housing deposits. Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), said there was greater scope for pension savings to support financial resilience, particularly among lower income households. “We have [...]
Lib Dems urge FCA probe into Mandelson leaks February 7, 2026 The Liberal Democrats have called on the UK’s financial watchdog to immediately investigate Peter Mandelson, warning that his alleged sharing of confidential government information with Jeffrey Epstein may have led to insider trading during the financial crisis. In a letter to Financial Conduct Authority (FCA), chief executive Nikhil Rathi, Liberal Democrat deputy leader Daisy Cooper said it was “crucial” to establish whether [...]
FCA boss: Treasury and MPs slowing deregulation push December 16, 2025 The pedestrian pace of government and parliament is preventing City watchdogs from introducing pro-growth measures fast enough, the boss of the Financial Conduct Authority (FCA) has said as he called for the introduction of statutory timetables to ensure the Treasury ratifies deregulation faster. Nikhil Rathi told the Treasury Committee that the FCA was “moving as [...]
Less jargon, more advice: FCA rises to pro-growth challenge December 10, 2025 With a flurry of announcements ahead of the new year, the FCA is rising to the government’s growth mandate, writes Ali Lyon. For many of the men and women in charge of the UK’s largest financial regulator, a grey cloud will have hung heavy over any festivities last Christmas. Just a day before the seasonal [...]
City watchdog to lift motor finance complaints pause earlier than expected December 3, 2025 The City watchdog has lifted the cap on motor finance complaints following the landmark ruling from the Supreme Court over the summer. The Financial Conduct Authority said it would ditch the pause on complaints from 31 May 2026 – two months ahead of plan. In a letter sent to banking bosses, the FCA has also [...]
Lords grill FCA on ‘deep lack of clarity’ in motor finance redress October 15, 2025 A committee of lawmakers has blasted the Financial Conduct Authority over the “deep lack of clarity” it provided over its motor finance redress scheme. Lord Forsyth, the chair of the House of Lords Financial Services Regulation committee, said at an evidence session the City watchdog had “made it considerably more complicated and costly” in its [...]
Close Brothers shares downgraded despite motor finance win August 18, 2025 Analysts have slapped a downgrade on Close Brothers stock despite the bank’s motor finance win last month at the Supreme Court. The FTSE 250-listed bank’s stock rating was lowered to ‘Sector Perform’, down from previous ‘Outperform’ expectations. Close Brothers shares were down over four per cent in early trading to 494.80. It comes after the [...]
Motor finance: Lords sound alarm on FCA’s redress scheme August 8, 2025 The House of Lords’ Financial Services Regulation Committee has sounded the alarm on “market uncertainty” around the UK financial watchdog’s upcoming motor finance redress scheme. In a letter addressed to the Financial Conduct Authority’s chief executive Nikhil Rathi, the committee “considers it of importance” to receive further insight into the forthcoming scheme. The City watchdog [...]