Tag: fca
North East Warrington Credit Union (NEWCU) Limited was placed into administration on 4 May 2022 and has now stopped trading. Mike Dillon and Andrew Poxon of Leonard Curtis Business Rescue and Recovery Limited have been appointed as joint administrators. North East Warrington Credit Union is a financial co-operative owned by its members. It is regulated […]
Speech by Sheldon Mills, Executive Director, Consumers and Competition, delivered at the Building Societies Annual Conference. Speaker: Sheldon Mills, Executive Director, Consumers and CompetitionEvent: Building Societies Annual Conference 2022Delivered: 5 May 2022Note: this is the speech as drafted and may differ from the delivered version Highlights Many consumers are feeling the impact of the cost of living crisis – the financial […]
With over £25 million lost so far, the FCA launches its latest ScamSmart campaign aimed at raising awareness of increasingly sophisticated investment scam tactics: A 59-year-old woman lost £48,000 as scammers used screen sharing software to take over her computer and access her banking history. Her case is one of 2,142 the FCA has seen […]
On 3 May 2022, Greenlight Credit Limited, trading as Varooma, went into administration. Martin Charles Armstrong and Andrew Richard Bailey of Turpin Barker Armstrong were appointed as Joint Administrators. Greenlight Credit Limited, trading as Varooma, is a high-cost lender which provides customers with logbook loans secured on the customer’s vehicle. With Logbook lending, the lender […]
As the FCA continues its transformation, it has recruited three experienced individuals to its senior leadership team. Mel Gunewardena will take up a Senior Advisor role at the FCA. Mel is currently Chief Market Intelligence Officer at the Commodities and Futures Trading Commission based in Washington DC and a former Managing Director at Goldman Sachs. […]
The FCA has imposed requirements on corporate advisory firm, Alexander David Securities Limited (ADSL), which means it must not dispose of any assets without the written consent of the FCA. Since 29 June 2020, ADSL has not been permitted to undertake any regulated activities, hold client money or assets nor issue or approve for third […]
City of Plymouth Credit Union (CPCU) Limited was placed into administration on Wednesday 27 April 2022 and has now stopped trading. James Sleight and Peter Hart of PKF Geoffrey Martin & Co Limited have been appointed as joint administrators by the court. City of Plymouth Credit Union is a financial co-operative owned by its members. […]
Speech by our CEO, Nikhil Rathi, delivered at City Week 2022. Speaker: Nikhil Rathi, CEOEvent: City Week 2022Delivered: 26 April 2022Note: this is the speech as drafted and may differ from the delivered version Highlights Cost of living crisis means consumers are more exposed to risk and more reliant on financial services. New consumer duty will ensure firms take into account […]
The Financial Conduct Authority (FCA) is using emergency powers to prevent financial advice firms, who advised members of the British Steel Pension Scheme (BSPS), from disposing of assets to avoid paying compensation. The FCA has introduced these emergency rules, without consultation, in light of the risk that some firms will take steps to get rid […]
On 11 April 2022, the director of Vector Wealth Ltd made an application to the High Court of Justice to seek an order that the Company be placed into administration. On 22 April 2022, James Alexander Snowdon and Michael Colin John Sanders, both of MHA MacIntyre Hudson LLP, were appointed Joint Administrators of Vector Wealth […]
