FCA extends motor finance complaint deadline December 19, 2024 The Financial Conduct Authority (FCA) has extended the time that companies have to respond to motor finance complaints following a landmark high court ruling. In an announcement today, the City watchdog said firms will have until 4 December 2025 to provide a final response to customer complaints over the use of non-discretionary commission arrangements (non-DCAs). [...]
Damning FCA report ‘risks undermining’ London as a financial centre November 26, 2024 Criticism of the Financial Conduct Authority (FCA) is continuing to mount as a group of parliamentarians prepares to lay out a stinging report claiming the watchdog is “defective” and “incompetent”. In a more than 350-page report compiled over three years, set to be presented to parliament, the All-Party Parliamentary Group on Investment Fraud and Fairer [...]
FCA proposes extending motor finance complaint deadline November 21, 2024 The Financial Conduct Authority (FCA) is weighing up whether to extend the time that companies have to respond to motor finance complaints following a landmark high court ruling. In an announcement today, the watchdog said it is launching a consultation on whether to give firms more time to respond to customers’ concerns over the use [...]
Sexism in the City ‘will never end’, says Helena Morrissey October 27, 2024 Sexism in UK financial services "will never end", City veteran and Tory peer Helena Morrissey has said, while poking holes in last week's bombshell FCA report on a survey of more than 1,000 firms.
Bullying and harassment cases rise at City firms, FCA finds October 25, 2024 There has been a sharp rise in non-financial misconduct at firms, according to a survey by the City regulator, but strikingly, the data revealed these companies took no action in more than half of investigations.
LMA: Driving change in Lloyd’s of London October 22, 2024 The UK’s £50bn specialist insurance market is a powerhouse, one of the tokens is the Lloyd’s Market Association, which are at work to drive the markets evolution
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 [...]
Swiss authorities order Glencore to pay £119m over to resolve bribery probe August 5, 2024 Energy giants have been ordered by the Swiss authorities to pay a fine and compensation totalling around £119m, in regards to the bribery of a Congolese public official by its business partner in 2011
FCA’s anti-greenwashing guidance comes into force next week. Lawyers explain what to expect May 26, 2024 The FCA's new anti-greenwashing guidance comes into force next week. Lawyers explain to City A.M. what companies should expect from this and the implications if they mess up
Investec sets aside £30m for FCA motor finance review May 23, 2024 London-listed South African banking group Investec has set aside £30m to cover potential costs from a City regulator probe into unfair car loans that could leave the motor finance industry on the hook for billions in compensation fees.