Watchdog ‘cherry-picking’ buy-now pay-later rules, fintech groups claim November 8, 2022 Fintech bodies have rounded on the City watchdog for “cherry-picking” its regulation of buy-now pay-later firms today, after it threatened executives with jail time for contravening financial promotion rules.
Global investors plough £97bn into funds as confidence rebounds November 8, 2022 Global investors ploughed $111.5bn (£96.58bn) into exchange traded products in October as conviction roared back in the strongest month of flows since March, new data has revealed.
London markets ‘completely throttled’ by regulation, says former exchange chief November 8, 2022 The UK’s equity market has been “taxed to death” and “completely throttled” by fiscal policies and regulation, the former chief of the London Stock Exchange Group has claimed, as he warned the Capital was in danger of losing its status as a global financial services hub.
Treasury-backed fintech body calls in open banking chief as chair November 8, 2022 A government-backed body set up to boost the country’s fintech sector has appointed industry grandee Charlotte Crosswell as its chair today, as it readies to start operations following a £5.5m Treasury funding commitment last year.
Lenders need to ‘step up’ to support customers, says FCA chief November 7, 2022 The City watchdog said that lenders need to “step up” to support their customers today as they are battered by soaring mortgage rates and rising prices this year.
Evelyn Partners assets tumble £4bn amid market volatility November 7, 2022 Wealth manager and financial services group Evelyn Partners reported a slump in its assets to £52bn today as it became the latest money manager to reveal the damage wreaked by market volatility in the third quarter of the year.
UK short positions fall as investors pile into bets against consumer firms November 7, 2022 The total number of short positions in UK companies slid in October as investors piled into bets against consumer firms across Europe amid a squeeze on shoppers’ spending power, new data has revealed.
London’s investor pool too shallow to tempt growing firms, say top chairs November 7, 2022 Chairs at some of London’s top firms have slammed a dearth of investors in London and cast doubt on the appeal of the Capital as a hub for growing firms, in a new report surveying the City’s top executives.
Exclusive: FCA threatens buy-now pay-later firms with jail time using financial promotion ‘loophole’ November 7, 2022 The City watchdog has written to buy-now pay-later chiefs warning they could face up to two years in jail if they fail to fall in line with financial promotion rules, as it uses a “loophole” to clampdown on the products despite not directly regulating them, City A.M. can reveal.
UK private equity deals slump as firms hold out for bargains November 7, 2022 The number of private equity deals closed in the UK has slumped 20 per cent in the past year as firms sit on cash reserves in anticipation of tumbling valuations, according to new research.
