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The Latest Breaking News from FCA

Drivers paying 'ethnicity penalty' for car insurance, Citizens Advice investigation finds

On average, people from ethnic minority backgrounds paid £250 a year more than white people, the report has discovered

Birmingham Post

Motorists paying ‘ethnicity penalty’ for car insurance, says Citizens Advice

People from ethnic minority backgrounds face paying hundreds of pounds more a year than white people typically, analysis by the charity suggests.

The Independent UK

Plans to protect pre-paid funeral customers set to start this summer under new FCA rules

From July, customers will be protected if their authorised plan provider fails.

Daily Record

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British Steel pension savers suffer losses, new report reveals

Many have not been fully compensated having opted to transfer out of original scheme after being given unsuitable advice by third parties

Birmingham Post

Thousands of steelworkers lost money in 'one of the biggest financial rip-offs of working people in south Wales'

"These steelworkers were badly let down, left at the mercy of rogue advisers, scammers and shameless introducers without any of the necessary support or advice they needed"

Wales Online

Thousands of UK steelworkers victims of pension regulation scandal, says NAO

Some members of British Steel pension scheme have incurred losses of up to £489,000

The Guardian - UK

Questions for the London Metal Exchange to answer over nickel market chaos

City Comment: The FCA should investigate why the nickel market is closed

Evening Standard

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UK Regulator Bans Crypto ATMs: 'People Should Be Prepared To Lose All Their Money'

United Kingdom financial regulator Financial Conduct Authority (FCA) has ordered all cryptocurrency automated teller machines (ATMs) — machines autonomously selling cryptocurrency, usually Bitcoin (CRYPTO: BTC) — to be shut down.

Benzinga

UK sanctions confusion left Evraz investors not knowing where to stand

Trading in steelmaker’s shares continued for an hour after Roman Abramovich sanctions were announced

The Guardian - UK

Financial regulator sounds investment scams warning

Scams involving cryptocurrency were among the most commonly reported

Insider UK

The latest scams to watch out for as more and more people get caught

The Financial Conduct Authority said it had seen a jump in people getting in touch

Wales Online

Brits will get thousands more if a company mistreats them under new claims crackdown

Making a claim when you're owed money is normally free, but claims firms can also help out for a fee. Now the money regulator has brought in tough new rules that cap how much consumers will pay out

Daily Mirror

Stellantis Pays Late FCA Boss Marchionne's Estate More Than Tavares

This has been revealed in the company's annual report for 2021.

Motor1

Financial Conduct Authority offers staff new deal with 5% pay rise

The financial watchdog has faced criticism from unions after changes meant an end to bonuses.

The Independent UK

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The Independent UK

Fee cap for claims management firms comes into force

The Financial Conduct Authority estimates the changes will collectively save people around £9.6m per year.

Tribune News Service

Stellantis CEO's direct compensation nearly $19M in 2021

The CEO of the maker of Jeep SUVs and Ram pickup trucks received $18.9 million (16.8 million euro) in direct compensation during his first year leading Stellantis NV.

The Independent UK

Fewer people living within reach of banks and building societies as branches shut

The number of bricks-and-mortar branches of larger banks and building societies providing personal current accounts fell in the third quarter of 2021.

The Independent UK

Fewer people living near major banks and building societies as branches shut

The number of bricks-and-mortar branches of larger banks and building societies providing personal current accounts fell in the third quarter of 2021.

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news in one place.

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Birmingham Post

Go-Ahead Group to publish results this week following franchise investigation delays

The Newcastle firm's shares have been suspended since January but it will soon apply to the FCA for the restoration of the listing

The Independent UK

More can be done to analyse ‘poverty premium’, says FCA boss

More can be done to see the effects of the premium in areas such as insurance and access to banking, Sheldon Mills told the Treasury Committee.

The Guardian - UK

Binance access to UK payments network worries City watchdog

FCA says it has limited powers to object to Paysafe deal despite concerns about cryptocurrency platform

Daily Record

Buy now, pay later contract changes could result in refunds for customers who made late payments

Clearpay, Klarna, Laybuy and Openpay are changing how their contracts are drafted.

The Guardian - UK

Four buy now, pay later firms change ‘potentially unfair terms’

UK financial regulator wants Clearpay, Klarna, Laybuy and Openpay to make contracts easier to understand

Daily Mirror

Buy now, pay later customers to be refunded after being charged unfair late fees

Clearpay, Laybuy, and Openpay have agreed to voluntarily refund shoppers who cancelled their entire order but were still charged late fees - are you due money back?

Wales Online

New rules for buy now, pay later customers

The Financial Conduct Authority (FCA) said it was concerned there was a potential risk of harm to consumers

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