Economists and policy experts warn Reeves against City deregulation Nobel laureate Joseph Stiglitz among 50 signatories of statement that points to risks to Labour’s wider aims The Guardian - UK · Dec 16, 2024
Millions of people set to get more support with their pensions under new plans A survey found 75% of over-45s do not have a clear plan for how to take money from their pension The Independent UK · Dec 12, 2024
Millions of people could get more support with their pensions under FCA plans The Financial Conduct Authority expects to consult next summer on new rules to give pension savers targeted support. Evening Standard · Dec 11, 2024
Finance watchdog warns ‘we can’t stop everything’ if chancellor’s plan unleashes more fraud Chancellor Rachel Reeves used her speech to the City last month to say that regulation designed to avoid a repeat of the great financial crisis in 2007/8 had “gone too far” The Independent UK · Dec 11, 2024
Supreme court grants permission for appeal against UK car finance ruling Two lenders can challenge October decision that undisclosed commission paid to car dealers is unlawful The Guardian - UK · Dec 11, 2024
Car finance scandal could be as big as PPI, City regulator says FCA lawyer admits scale of compensation could be larger than first thought, and as big as PPI, which cost banks £50bn The Guardian - UK · Dec 10, 2024
Cutting red tape could attract more bad actors in finance sector, says FCA boss Nikhil Rathi told MPs on the Treasury Select Committee that there will be increased risk-taking as part of proposed changes by Government. Evening Standard · Dec 10, 2024
Claims management companies circle after UK court ruling on mis-sold car finance Specialist law firms and CMCs could be in line for massive payday with their cuts from consumer compensation The Guardian - UK · Dec 9, 2024
Cutting finance red tape in pursuit of growth poses ‘top risk’ to consumers Consumer groups warned MPs that a push for regulators to prioritise economic growth could do more harm than good for ordinary people. Evening Standard · Dec 3, 2024
Head of financial watchdog defends performance after critical report from MPs Financial Conduct Authority chief executive Nikhil Rathi has defended the organisation after the report by MPs and peers. The Independent UK · Nov 30, 2024
UK finance watchdog softens ‘name and shame’ plans after City pressure The Financial Conduct Authority said it is making changes, having ‘heard the strength of feedback’ about its original plans. The Independent UK · Nov 28, 2024
City regulator offers to water down ‘name and shame’ rules after pressure FCA proposes giving 10 days’ notice before revealing identities of firms under investigation and will consider market impact The Guardian - UK · Nov 28, 2024
City watchdog branded ‘incompetent’ and ‘toxic’ by its own staff The FCA has been subject to increased scrutiny after a number of high-profile incidents, including the collapse of a number of controversial investments The Independent UK · Nov 26, 2024
Senior UK bankers will get bonuses years earlier under plan to relax rules PRA and FCA propose changes to bonus deferrals in bid to drive growth and improve UK competitiveness The Guardian - UK · Nov 26, 2024
The Independent UK · Nov 26, 2024 Top bankers to access bonuses quicker under plans to relax City rules Proposed changes will see the period that bonus payments can be deferred for the most senior bankers reduced from eight years to five years.
The Guardian - UK · Nov 26, 2024 FCA fines Macquarie Bank £13m for fictitious trades amid ‘serious failings’ Trader was able to record more than 400 fictitious trades over a period of 20 months, says watchdog
Evening Standard · Nov 26, 2024 Macquarie fined £13m by City watchdog after fake trades Fake trades were not detected earlier because of ‘significant weaknesses’ in the bank’s systems and controls, the regulator said.
Evening Standard · Nov 26, 2024 UK’s financial watchdog is ‘incompetent’ and ‘dishonest’, MPs and peers claim A cross-party parliamentary group, comprising 30 MPs and 14 peers, produced the damning report after examining the Financial Conduct Authority.
The Guardian - UK · Nov 26, 2024 FCA is ‘incompetent at best, dishonest at worst’, claim MPs and peers Financial watchdog needs a radical shake-up after scandals and failures, says all-party group’s report
Evening Standard · Nov 26, 2024 Estimated 7m UK adults own cryptoassets, says FCA Some 12% of UK adults own crypto, up from 10% in 2022, according to research for the Financial Conduct Authority.
The Guardian - UK · Nov 25, 2024 Barclays’ retreat over regulator’s Qatari finding is a cop-out Bank still does not accept FCA finding that payments of £322m to Qatari entities should have been disclosed
Evening Standard · Nov 25, 2024 Barclays drops court battle over 2008 Qatari deals to ‘draw line under’ issue The bank had been due to challenge the Financial Conduct Authority’s (FCA) decision in the Upper Tribunal court in London this week.
The Guardian - UK · Nov 25, 2024 Barclays fined £40m for ‘reckless’ failures in 2008 Qatari fundraising Bank’s shares rise as it disputes FCA finding it should have disclosed more about deal during financial crisis
Evening Standard · Nov 25, 2024 Barclays fined £40m for ‘reckless’ Qatari deals during 2008 financial crash The bank had been due to challenge the case brought by the Financial Conduct Authority in court this week.
Evening Standard · Nov 22, 2024 Life insurers must avoid unnecessary delays with claims, says City regulator The Financial Conduct Authority said many firms have further to go to meet its expectations.