Tag: fca
Speech by Jessica Rusu, Chief Data, Information and Intelligence Officer, at the Innovation Finance Global Summit 2022. Speaker: Jessica Rusu, Chief Data, Information and Intelligence OfficerEvent: Innovation Finance Global Summit 2022Delivered: 4 April 2022Note: this is a drafted speech and may differ from the delivered version Highlights Technological innovation has changed our lives and how we […]
On Tuesday 8 March 2022, the London Metal Exchange (the LME) suspended nickel trading, having concluded a disorderly market had arisen. Nickel trading resumed on the LME on Wednesday 16 March. The suspension occurred amid challenging commodity market conditions following Russia’s invasion of Ukraine. The FCA is responsible for supervision of the LME as a […]
On 1 April 2022, the Court appointed David Philip Soden, Robert Scott Fishman and Matthew Steven Roe, all of Teneo Financial Advisory Limited, as joint special administrators of Sberbank CIB, following an application by Sberbank CIB’s directors. What does Sberbank CIB do? Sberbank CIB provides trading and execution services to its clients, including providing access […]
The FCA has published proposals for a compensation scheme for former members of the British Steel Pension Scheme (BSPS) who received unsuitable advice to transfer out of the fund. The FCA has found that almost half (46%) of the advice it reviewed relating to BSPS was unsuitable. It is proposed that the scheme will cover […]
The Financial Conduct Authority (FCA) has fined asset manager GAM International Management Limited (GIML) £9,103,523 for failing to conduct its business with due care and attention and failing to adequately manage conflicts of interest. The FCA has also fined Timothy Haywood, a former Investment Director and Business Unit Head at GIML, £230,037. GIML failed to […]
On 25 March 2022, Temple Finance Limited, trading as PerfectHome, was placed into administration. Rob Harding and David Soden of Teneo Financial Advisory Limited were appointed as joint administrators. Temple Finance Limited is a Rent-to-Own retailer, which lends to customers to purchase household furniture and goods. Temple Finance Limited also offered cash loans. All […]
The Court of Appeal today has upheld an appeal brought by Ms Karen Ferreira in a case in which she had been ordered by the High Court, on 6 May 2020, to pay restitution for consumers who suffered losses relating to an illegal financial promotion by Our Price Records. Our Price Records was a start-up […]
HM Treasury, the Competition and Markets Authority (CMA), the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) have published a joint statement on the future of Open Banking. Open Banking has led to greater competition and innovation in UK retail banking, bringing real benefits to consumers and businesses. The Government and regulators are […]
These new requirements are one of the first examples of the FCA confirming UK divergence from EU rules following Brexit. Those that manufacture, advise on, or sell PRIIPs are required to produce and provide a Key Information Document (KID) about the product they are selling. Our changes remove information about the performance of certain products […]
We are reminding all regulated firms of their existing obligations when they are interacting with or exposed to cryptoassets and related services. While cryptoassets and their underlying technologies can offer benefits to financial services firms e.g., reduce costs and increase efficiencies, they also present risks to market integrity and consumers, particularly when used as a […]
