Klarna, Zilch, Clearpay: What does the buy now pay later crackdown mean for UK fintech? May 20, 2025 The Treasury’s regulatory shakeup of buy now pay later services is set to reshape the UK fintech landscape and industry leaders have been left with questions. The UK government will enact legislation that brings buy now pay later firms under the scrutiny of the Financial Conduct Authority. This means firms such as Klarna and Clearpay [...]
FCA to rip up insurance rules in drive for growth May 14, 2025 The Financial Conduct Authority has outlined plans to ditch “outdated or duplicated” insurance rules in a bid to help firms reduce costs and drive competition. The City regulator’s fresh proposals would hand firms greater responsibility over reviewing the value of their product. This would involve companies using the risks and characteristics of each individual product [...]
Financial Conduct Authority plans to ‘put public back in IPO’ May 13, 2025 After a torrid few years for the London Stock Exchange, the Financial Conduct Authority is opening new avenues to boost initial public offerings (IPOs). The City regulator told industry stakeholders at the London Stock Exchange’s annual IPO Forum last week, it would “put the P back into IPO,” sources attending the event told City AM. [...]
Revolut handed £3m fine for money laundering control ‘shortcomings’ April 8, 2025 UK fintech Revolut has been fined €3.5m (£3m) by the Bank of Lithuania for inefficiencies in its money laundering control. The neobank was blasted for “violations and shortcomings in the monitoring of business relationships and [transactions]” by the Bank of Lithuania. The watchdog said failings had “resulted in the bank not always properly identifying suspicious [...]
CMA chair pledges to speed up decision-making after government backlash January 28, 2025 The new chair of the competition watchdog has pledged to speed up its decision making and bring in outside expertise as part of plans to reshape the agency following months of criticism. Doug Gurr, a former Amazon executive who was parachuted in to lead the body after ministers ousted his predecessor last week, said “lengthy [...]
Household water bills to rise by an average £31 a year from April December 19, 2024 Household water bills in England and Wales will increase by an average £31 a year over the next five years, regulator Ofwat has announced.
Motor finance: City watchdog considers deadline extension November 13, 2024 The Financial Conduct Authority (FCA) said firms are likely to receive a "high volume" of complaints following the Court of Appeal's judgement last month.
Tory conference: ‘Rigorous’ process for Revolut licence was ‘right’, ex-minister says September 30, 2024 The “rigorous” process Revolut went through to secure its banking licence was “right”, John Glen has said. Former paymaster general Glen told a Conservatives in the City event at the annual Tory party conference in Birmingham that the digital payments app now had “credibility to grow globally”. He said: “The UK is brilliant in innovation [...]
Thames Water in talks over £3.3bn emergency fundraising deal September 15, 2024 Thames Water has been in contact with Brookfield Infrastructure Partners and Global Infrastructure Partners about a £3.3bn emergency fundraising deal to help pay off some of the struggling utility’s large debt pile, according to reports. The firm, which is the largest of Britain’s privatised regional monopolies, has set itself a deadline of early November to [...]
Football regulator advertises Head of Legal role that pays ‘less than most newly qualified lawyers’ August 30, 2024 The independent football regulator’s top lawyer will be paid the same as peers just starting out on their legal careers, prompting industry figures to fear the body could be “toothless”. The Department for Culture, Media and Sport (DCMS) posted an advert for the Head of Legal role earlier this week that will pay the successful [...]