The Latest Breaking News from FCA

How changes to ‘buy now, pay later’ rights affect you

Treasury says shoppers will get a ‘fairer deal’ as new rules for BNPL credit are introduced on Wednesday

The Guardian - UK · Jul 15

Stronger protections for buy now pay later customers come into force

Providers will come under the regulation of the Financial Conduct Authority and customers will have stronger support if something goes wrong.

Evening Standard · Jul 15

Buy Now, Pay Later rules are changing. Here’s what you need to know

Almost 11 million shoppers used BNPL services in the 12 months to May 2024

The Independent UK · Jul 14

Millions of UK investors in the dark about how much they pay in fees

Hidden charges can knock thousands of pounds off savings over a period of years

The Independent UK · Jul 8

The £10,000 question: When should cash savings become investments?

Cash is important to have for emergencies - but at a certain point investing is the better route to wealth-building

The Independent UK · Jul 8

British Watchdog Wants To Regulate AI Models Giving Financial Advise. Millions Are Already Doing It.

The executive director of consumers and competition at the FCA said the government should examine whether general-purpose large language models should fall within the country's regulatory framework.

International Business Times · Jul 7

Global Market: UK regulator urged to consider rules for AI chatbots in financial advice

A UK regulatory review has recommended that the Financial Conduct Authority consider bringing AI models such as ChatGPT, Claude and Gemini within its regulatory framework as their influence on consumer financial decisions grows. The report also warned of systemic risks from increasing reliance on a handful of AI and cloud…

The Economic Times · Jul 7

Banks commit to improving basic bank account access after poor practice found

People with a poor credit history may struggle to access a standard current account, meaning a basic bank account can be vital to them.

Evening Standard · Jul 6

Boost City regulator’s powers to help protect UK consumers from AI, says watchdog

FCA’s review into how tech will reshape financial services warns about amplified risks of cyber-crime and fraud

The Guardian - UK · Jul 6

AI is set to ‘transform’ financial services by 2030, review finds

The technology could help people manage finances more effectively but fraud threats could also become more scalable and effective, the review said.

Evening Standard · Jul 6