UK bank compensation scheme faces leadership vacuum after recruitment delays September 18, 2024 The institution that protects government-guaranteed deposits in failed banks is facing questions over its future leadership after multiple setbacks to recruiting a new chair and permanent chief executive, City A.M. can reveal.
City regulator charges first individual with running illegal crypto ATM network September 10, 2024 The City watchdog has brought its first charges against an individual for running a network of illegal cryptocurrency ATMs.
City watchdog’s motor finance review drives up official complaints August 29, 2024 A review by the City regulator into now-banned commission arrangements on car loans has contributed to a surge in official complaints to the UK's financial ombudsman in recent months.
FCA cracks down on unregulated crowd investment schemes August 26, 2024 The Financial Conduct Authority has begun a crackdown on crowd funding investment schemes that see investors diving into unregulated share offers. Odin, a service that helps private companies pool investments, has revealed that the regulator had told it to stop taking on new customers until it changes its operating model. “The FCA has come to [...]
Treasury and FCA worried by payments regulator’s fraud refund scheme August 22, 2024 The government and City watchdog have raised concerns over a fraud refund scheme from the UK payments regulator that firms have warned could do long-lasting damage to the industry, City A.M. understands.
Watchdog cracks the whip on crypto firms after compliance failures August 8, 2024 The Financial Conduct Authority has complained that crypto companies are failing to comply with new rules regulating their advertising, with many attempting to skirt the rules. “We have seen firms relying on industry comparisons to benchmark what is acceptable. Given the levels of poor practice in the market, firms should not be doing this,” complained [...]
FCA: Pension schemes to be rated on new traffic light system in bid to boost returns August 8, 2024 The plans will see schemes rated publicly on a range of metrics, including investment performance and service quality, rather than just focusing on costs and charges.
The Notebook: Why the Consumer Duty is something to celebrate August 6, 2024 Where the City’s movers and shakers have their say. Today, Debbie Kennedy, CEO at Lifesearch, takes the notebook pen to tell us why we should cheer the Consumer Duty Happy birthday to the Consumer Duty! Last week saw the one-year anniversary of Consumer Duty – a relative ‘unknown’ for the average person on the street, [...]
FCA makes first crypto-related sting against Coinbase subsidiary July 25, 2024 Crypto company CB Payments Limited (CBPL) has been slapped with a £3.5m fine after the Financial Conduct Authority made its first ever crypto sting.
FCA spent too long ‘looking in on itself’ says former executive July 24, 2024 The Financial Conduct Authority may be sleepwalking into the next financial scandal after spending too long “looking in on itself”, a former senior official has warned. Speaking on the Following the Rules podcast, ex-regulator Gavin Stewart, former chief risk officer at the FCA and a veteran of its previous incarnation, the Financial Services Authority (FSA), [...]