The Latest Breaking News from the Financial Conduct Authority

Rise in middle-aged money mules as more account closures linked to people in 40s

The Financial Conduct Authority said it has seen a sharp increase in account closures from suspected mule activity linked to people aged in their 40s.

The Independent UK · Sep 22

People seeking debt help urged to watch out for these ‘red flags’

The Financial Conduct Authority said it is concerned that some people are being steered towards debt solutions that are unsuitable for their needs.

Evening Standard · Sep 21

Financial watchdog taking loan notes firm Hunter Jones to high court

The FCA is asking the court to require the company, run by social media influencer Reece Mennie, to return money to investors.

Evening Standard · Sep 21

US senator accuses Barclays of ‘failure’ to investigate ex-CEO’s ties to Epstein

Exclusive: Elizabeth Warren claims bank did not ‘meaningfully investigate’ Jes Staley’s links with sex offender

The Guardian - UK · Jul 23

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

Bank of England handed powers to regulate key tech firms including Amazon and Google

Direct oversight of ‘critical third parties’ such as Oracle and Microsoft given to ensure resilient cyber-defences and help safeguard UK economy

The Guardian - UK · Jul 10

Firms improving design of products and services under Consumer Duty, FCA finds

People should be able to trust products and services are designed for them, monitored properly, and deliver expected outcomes, the regulator said.

Evening Standard · Jul 9

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