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The Latest Breaking News from the Financial Conduct Authority

Watchdog brings forward deadline for motor finance firms to handle complaints

The Financial Conduct Authority will be lifting a pause on the handling of certain motor finance complaints on May 31, rather than July 31.

Evening Standard

Rachel Reeves denies lying about Budget black hole to justify tax hikes – UK politics live

Rachel Reeves denies breaking Labour manifesto pledge not to raise taxes – but admits she is asking people to pay more

The Independent UK

Mortgage holders warned of ’empty promise’ notes claiming they can clear loans

The Financial Conduct Authority said ‘promissory notes’ are not an acceptable form of mortgage payment.

Evening Standard

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Short-sellers set to be kept anonymous under disclosure rule change plans

The FCA is consulting on proposals to overhaul the rules which currently require the identities of short-sellers to be disclosed.

Evening Standard

£283m in redress paid by financial services firms dealing with complaints

The Financial Conduct Authority released complaints figures for the first half of 2025.

Evening Standard

Millions of motorists to be paid compensation over car finance scandal

Compensation for unfair motor finance deals will be paid out at around £700 each, the Financial Conduct Authority has said

Evening Standard

Compensation payouts due on 14m unfair car loans, watchdog says

The Financial Conduct Authority estimated its redress scheme could cost lenders £8.2 billion in compensation.

Evening Standard

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Millions of drivers to get £700 compensation from car mis-selling scandal

Motor finance firms broke the law by not properly informing customers about commission paid by lenders to car dealers

The Independent UK

The U.S. and U.K. are aligning on blockchain—and that is good for the world economy

In an opinion piece, the head of cryptocurrency exchange OKX explains why the US and UK could be poised to explain their longtime dominance of the financial sphere.

Fortune

Many home insurance policies do not cover accidents as standard, warns Which?

The consumer group cautioned that many households may assume they are automatically covered for accidental damage.

The Independent UK

Budding investors warned high-risk products could be behind ‘glossy promotions’

People selling high-risk, unregulated investments often use enticing websites, marketing campaigns and social media promotions, the FCA said.

Evening Standard

BMW sets aside more than £200m for UK motor finance scandal

The financial regulator, the Financial Conduct Authority (FCA), is currently consulting on an industry-wide redress scheme.

The Independent UK

Hundreds of thousands to receive compensation for car insurance claims

The Financial Conduct Authority (FCA) said that approximately 270,000 drivers are affected

The Independent UK

Around 270,000 motorists to receive compensation after being ‘short-changed’

Insurers have overhauled their claims processes in line with the Financial Conduct Authority’s Consumer Duty.

Evening Standard

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The Independent UK

Why UK savers withdrew £70bn from retirement pots over the last year

Some finance experts have urged savers to speak to advisors about their pension pots

Evening Standard

More than £70bn withdrawn from retirement pots in 2024/25 – FCA figures

Some finance experts suggested that speculation around potential tax changes could have influenced some pension savers.

The Guardian - UK

‘A lack of care’: how big companies still fail bereaved customers

Those trying to report a death can face bureaucracy, costly delays and other shocking mistakes

Evening Standard

UK watchdog launches £1m car finance campaign to warn of unnecessary fees

The Financial Conduct Authority has brought in influencers to help spread its message to consumers in the coming months.

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The Independent UK

Contactless card payments could become unlimited under plan to scrap £100 cap

The Financial Conduct Authority announced plans to scrap the £100 cap on contactless card payments

Evening Standard

Firms could be given freedom to set their own contactless card limits

The contactless card limit has been raised in steps over the years, currently standing at £100.

Evening Standard

Car finance deal compensation could start next year, says FCA boss

Nikhil Rathi, chief executive of the Financial Conduct Authority, said he hopes that most payouts to drivers will be made during 2026.

Evening Standard

FCA ‘focused on proportionate and workable’ motor finance solutions

FCA chief executive Nikhil Rathi said the body recognised the record keeping challenge for some firms.

Evening Standard

'Careful easing' of mortgage stress test rules could help more first-time buyers

A measured easing of stress test rules could allow more people into the mortgage market without a significant increase in arrears, UK Finance has said.

The Independent UK

Urgent scam warning issued as fraudsters pose as financial regulator

Many vulnerable people were targeted in the scam

Evening Standard

Thousands targeted by fraudsters impersonating financial regulator

The Financial Conduct Authority (FCA) said it received 4,465 reports of scammers pretending to be the watchdog in the first half of the year.

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