Neobrokers take aim at Hargreaves Lansdown and AJ Bell November 27, 2024 A crop of neobrokers are ramping up their challenges to the industry’s dominant players in what experts say could reshape Britain’s retail investment scene.
Tesco Clubcard and Sainbury’s Nectar schemes do help consumers, regulator says November 27, 2024 A year-long probe into UK supermarkets’ pricing practices has found “very little” evidence that shoppers are being treated unfairly with loyalty programmes such as the Tesco Clubcard scheme and Sainsbury’s Nectar points. The Competition and Markets Authority (CMA) probe, which has been ongoing since November last year, investigated whether supermarket loyalty schemes cause inflation by faking the [...]
Critics circle under-fire watchdog November 27, 2024 What unites firebrand socialist MPs and stalwarts of the Tory establishment? The answer – somewhat unbelievably – is the state of our main financial regulator. The Financial Conduct Authority is heading into a cold winter with storms swirling on all sides. It faces fury from parts of both the Square Mile and Westminster for hamstringing [...]
‘More of the same’: City lawyers sceptical of FCA’s five-year plan November 26, 2024 The Financial Conduct Authority (FCA) has set out a new five-year strategy, including details about its secondary objective to support the growth and competitiveness of the UK economy. In a speech today, FCA chief operating officer Emily Shepperd outlined the four key themes that the City watchdog would be focusing on: Growth and innovation, financial [...]
UK proposes earlier banker bonuses in bid to boost competition November 26, 2024 UK regulators have officially laid out plans for the country’s top bankers to get their bonuses years earlier in a bid to boost competition with rival jurisdictions. The Bank of England’s Prudential Regulation Authority (PRA) and City watchdog the Financial Conduct Authority (FCA) published proposals on Tuesday to reduce the bonus deferral period for most [...]
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 [...]
UK delays stablecoin regulation amid rise in crypto investing November 26, 2024 The government has delayed the rollout of a regulatory regime for stablecoins, it has been confirmed. City minister Tulip Siddiq confirmed that the government’s plan for stablecoin regulation, which had been expected this year, would be rolled into a larger regulatory plan for crypto next year. “Doing everything in a single phase is simpler, and [...]
FCA is ‘incompetent’ and transformation plan a ‘failure’, MPs say November 25, 2024 The Financial Conduct Authority (FCA) is “incompetent” and “defective” and attempts to transform itself over the past four years have been a “failure”, according to a damning report by a group of MPs, set to be revealed tomorrow. In a more than 350-page report compiled over three years, the All-Party Parliamentary Group on Investment Fraud [...]
Neobroker Lightyear to launch ISAs in challenge to Hargreaves Lansdown November 25, 2024 Neobroker Lightyear has received approval from the City regulator to launch as a fully-fledged investment firm in the UK amid intensifying competition in the sector.
Spreadex ordered to sell Sporting Index after ‘creating monopoly’ November 22, 2024 Spreadex has been ordered to sell Sporting Index after it was ruled that the acquisition had created a monopoly. The Competition and Markets Authority (CMA) has told Spreadex to dispose of the ‘business-to-consumer’ firm after it snapped it up from Sporting Group last year. Spreadex and Sporting Index both provide sports fixed odds betting and sports [...]