Payments regulator in Treasury crosshairs as firms revolt December 16, 2024 As the government hunts for ways to make Britain more competitive, the country's payments regulator has become caught in the crosshairs.
Regulators are paying lip service to growth December 12, 2024 “This is not a return to pre-crisis light touch… because frankly that ended in tears.” That was the response of the heads of the Financial Conduct Authority (FCA) when questioned by MPs about their new growth remit. No one can deny that the 2008 financial crash devastated lives. But the consequences of the low growth [...]
Motor finance scandal: FCA boss tells unhappy customers to complain December 10, 2024 Treasury Committee chair Dame Meg Hillier on Tuesday described the ongoing saga over the sale of car finance as "one unholy mess."
FCA rejects ‘light-touch’ regulation in push for City growth December 10, 2024 The heads of the Financial Conduct Authority (FCA) told MPs they will not adopt a “light-touch” approach to regulation today after criticism the City watchdog has hampered growth with burdensome red tape. Appearing before the Treasury Committee on Tuesday, FCA chief executive, Nikhil Rathi, and chair, Ashley Alder, warned of the challenges in delivering on [...]
FCA facing High Court over interest rate hedging redress scheme December 9, 2024 The City regulator faces the High Court this week over its IRHP redress scheme, as a cross-party group aims to overturn the scheme
Mark Kleinman: Tucker’s luck could mean handing over HSBC reins during a trade war December 5, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles HSBC’s chair changeover, the FCA’s recent climbdown, and a mighty job at Mitie. Tucker’s luck could mean handing over HSBC reins during a trade war Just as one swallow doesn’t make [...]
Former City minister quits Westminster group over scathing FCA report December 4, 2024 The former City minister John Glen has quit a cross-parliamentary group on fairer finance after it released an incendiary report on the Financial Conduct Authority (FCA) accusing it of “incompetence”. In a letter to the Financial Times, Glen, who served as City minister between 2018 and 2022, said he was “dismayed” by the report and [...]
Shein: Why the FCA is unlikely to block a blockbuster listing December 3, 2024 The boss of the Financial Conduct Authority (FCA) has insisted he is not the regulator of “every aspect of corporate behaviour” amid growing concerns over plans for the fast fashion retailer Shein to float on the London Stock Exchange. Nikhil Rathi, chief executive of the FCA, said it is not within the regulator’s power to [...]
FCA slammed by crowdfunding industry for over-regulation December 2, 2024 The UK economy has lost out on billions of pounds of investment over the past five years due to the City watchdog’s over-regulation of the crowdfunding industry, a leading lobby group has claimed. In a letter to City minister Tulip Siddiq, the UK Crowdfunding Association called on the Financial Conduct Authority (FCA) for a new [...]
City minister warned FCA ‘several times’ over name and shame plans November 29, 2024 The City minister said she warned the Financial Conduct Authority (FCA) “several times” that its controversial ‘name and shame’ rules could harm companies before the regulator moved to water down the plans. Following intense criticism from firms and ministers, the regulator confirmed on Thursday that it would soften plans to publicly name companies facing investigation [...]