Tag: fca
The FCA today issued a notice of discontinuance in relation to the prosecution of Craig Whyte who had been charged with an offence of failing to comply with a statutory Notice issued under Section 49 Regulation of Investigatory Powers Act (RIPA 2000). The service of the notice terminates the prosecution. The decision to end the […]
The Financial Conduct Authority has fined Barclays Bank Plc (Barclays) £783,800 for oversight failings in its relationship with collapsed payments firm Premier FX. Barclays was Premier FX’s sole banker in the UK. The financial penalty takes into account that Barclays has agreed voluntarily to cover the losses of Premier FX customers whose claims have been […]
This page contains information about fines published during the calendar year ending 2022. The total amount of fines so far is £783,800. Firm or individual fined Date Amount Reason Barclays Bank plc 28/02/2022 £783,800 This Final Notice (Barlclays Bank plc) refers to breaches of PRIN 2 related to financial crime in the corporate banking sector. […]
On 16 December, the FCA announced that it had issued a Decision Notice to Finablr plc refusing the company’s application for cancellation of its premium listing with reference to LR 5.2.7R. Finablr plc had the right to refer the matter to the Upper Tribunal. As Finablr plc has not referred the matter to the Upper […]
On 24 February 2022 Oakam Ltd (trading as Oakam and Loal) was placed into administration. Andrew Tate and James Hopkirk of Kreston Reeves LLP were appointed as joint administrators. Oakam Ltd is a high-cost lender. It loaned money to customers for between 6 to 36 months. All existing loan agreements remain in place, although the […]
Following the Prime Minister’s statement to the House of Commons on 22 February 2022, the UK has announced a tranche of sanctions on Russia. The full details of the measures are available on the Foreign, Commonwealth & Development Office website. If you require a licence to permit any activity which would otherwise be prohibited by sanctions […]
We are aware of recent statements made by Bitpanda announcing the acquisition of Trustology Limited. Trustology is a cryptoasset business which the FCA registered under the Money Laundering Regulations (MLRs) in October 2021. As a result of the transaction, Bitpanda has become the new beneficial owner of Trustology for the purposes of the MLRs. The […]
Strathkelvin Credit Union Limited was placed into administration on 22 February 2022 and has now stopped trading. Dina Devalia, Simon James Bonney and Ian William Wright of Quantuma Advisory Limited have been appointed as joint administrators. Strathkelvin Credit Union is a financial co-operative owned by its members. It is regulated by the Prudential Regulation Authority […]
From 29 July 2022, the Financial Conduct Authority (FCA) will regulate funeral plan providers, following a change in the law. Ahead of that, the FCA is assessing applications from funeral plan providers for authorisation. This process is to ensure: firms sell products which offer fair value, meet consumer needs and are sold fairly firms are […]
Safe Hands Plans Limited has withdrawn its application to the FCA for authorisation as a funeral plan provider. Safe Hands Plans will not be taking on new customers. Do not buy a new funeral plan from this firm. Safe Hands Plans will contact current customers to discuss their options. If you have any questions about […]
