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The Latest Breaking News from FCA

Pension firm underpaid members for a decade in 'terrible' breach

Exclusive: Former employees of Cardiff-based Allied Steel and Wire (ASW) will be paid the money owed with interest, says pension provider Wesleyan

Wales Online

Former Barclays boss Jes Staley gets £2.3m pay-off, fight with FCA over Epstein continues

Barclays profits slide on investment bank and litigation woes

Evening Standard

Watchdog and West Yorkshire police raid crypto ATM operators in UK first

Raids target machines hosted around Leeds believed to be offering to buy or convert traditional currencies

The Guardian - UK

From analysis to the latest developments in health,
read the most diverse news in one place.

“Awful… ineptitude” — what went wrong with the Mayor’s solar power scheme?

The Solar Together scheme was meant to kickstart the capital’s switch to solar power but instead has been beset by delays, leaving many out of pocket and trying to escape the situation. By Anthony France

Evening Standard

Changes to IVA debt rules could save people thousands in fees

Firms to be banned from receiving referral fees under new proposals amid concerns that customers are receiving poor advice

Chronicle Live

Scams: FCA blocks more than 10,000 ads from Instagram, Facebook and YouTube

Financial watchdog warns over rise of ‘fin-fluencers’ targeting younger people on social media

The Guardian - UK

FCA cracks down on ‘fin-fluencers’ posting illegal investing advice

Number of ads banned by markets watchdog skyrockets to 8,852 in 2022

Evening Standard

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Brits struggling with debt could save thousands in 'unfair' fees thanks to new rules

Consumers who enter a debt solution which is not right for them can face dire consequences and could force them to stay in debt for much longer

Daily Mirror

FCA must increase staff pay or it risks failing public, Unite says

The Financial Conduct Authority is being pushed towards ‘breaking point’ because of the number of staff leaving the business, Unite said.

The Independent UK

US Virgin Islands seeks Epstein documents from Barclays

The U.S. Virgin Islands asked a U.S. court to order Barclays Plc to turn over documents related to the relationship its former chief executive officer Jes Staley had with sex-offender Jeffrey Epstein.

Tribune News Service

TSB staff and bosses to share £29.8m bonus pot after record profits

Bank hails successful turnaround from IT meltdown in 2018 with profits up 16.5% to £182.5m

The Guardian - UK

FCA alleges price fixing between Glaswegian money transfer firms

The financial regulator has issued a statement of objection to the three companies

Insider UK

Some firms need to step up preparations for new consumer duty – City regulator

New rules come into force on July 31 2023 which will set higher standards of consumer protection across financial services.

The Independent UK

Lanarkshire foster carer says looking after kids 'changed her perspective on life'

Linda Dickie has been fostering children for nearly 20 years and credits the youngsters for 'changing her perspective on life' and inspiring her with their resilience.

Glasgow Live

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Motor1

GM Asks US Supreme Court To Review Racketeering Case Against FCA

The original lawsuit was filed pre-Stellantis in 2019, and GM's most recent appeal was rejected in August 2022.

Tribune News Service

GM appealing to Supreme Court in case against FCA

General Motors Co. is asking the U.S. Supreme Court to review its racketeering lawsuit against Fiat Chrysler Automobiles, now known as Stellantis NV, according to a filing this month with the high court.

Chronicle Live

Named and shamed: Insurance firms that reject almost half of all claims

One in four claims on average are rejected but insurers argue the real figure is lower as they don't understand their policies

The Independent UK

Ex-Charlton Athletic footballer Richard Rufus jailed for £8m investment scam

Rufus ‘deliberately deceived those who were close to him and those who trusted him to scam them out of substantial sums of money’, police said.

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The Independent UK

More than 750,000 households at risk of mortgage default, regulator warns

The figures were included in Financial Conduct Authority correspondence published by the Treasury Committee

The Independent UK

Regulator consults on protections for insurance customers struggling financially

The FCA is proposing to update guidance introduced during the pandemic.

The Independent UK

Extra 570,000 mortgage holders ‘at risk of payment shortfall in next two years’

The figures were included in Financial Conduct Authority correspondence published by the Treasury Committee.

Al Jazeera

Nigeria’s GT Bank fined in UK over money-laundering failures

Financial watchdog says GT Bank, a repeat offender, has not disputed the findings and agreed to settle.

The Guardian - UK

Rule changes take the FTSE into a new diversity dawn

The financial watchdog’s new regime is bringing a harder edge to voluntary schemes for race and gender representation

Daily Record

Pensions expert shares seven things to consider before retiring during cost of living crisis this year

A single person will need about £11,000 a year to achieve the minimum standard of living in retirement.

Chronicle Live

Martin Lewis' 2023 cost of living advice including energy bills, mortgages and Universal Credit

The MoneySavingExpert founder has issued advice to households on what to expect this year and the financial help and support that is available

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