Tag: News stories
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 […]
Heritage Pensions Limited (Heritage), is a SIPP operator authorised and regulated by the FCA. On 17 March 2022 the directors appointed Paul David Williams and Edward Robert Bines of Kroll Advisory Ltd (“Kroll”) as joint liquidators. The liquidators are all qualified insolvency practitioners. We set out the steps Heritage clients should take and advice on […]
On 15 March 2022 SD Taylor Limited (trading as ‘Loans at Home’) was placed into administration. Chris Laverty, Trevor O’Sullivan and Andrew Charters of Grant Thornton UK LLP were appointed as Joint Administrators. SD Taylor Limited is a high-cost lender. It offered home collected loans to customers with repayment periods between 14 and 63 […]
We have warned operators of crypto ATMs in the UK to shut their machines down or face enforcement action. Crypto ATMs offering cryptoasset exchange services in the UK must be registered with us and comply with UK Money Laundering Regulations (MLR). None of the cryptoasset firms registered with us have been approved to offer crypto […]
On 3 March 2022, the Court appointed David Philip Soden, Ian Colin Wormleighton and Stephen Browne, all of Teneo, as Joint Special Administrators of Sova Capital Limited, following an application by the Directors. What does Sova Capital Limited do? Sova Capital Limited is an FCA authorised and regulated wholesale broker. The firm provided trading and […]
The Financial Conduct Authority (FCA) is establishing a new advisory committee on secondary markets and is looking for expressions of interest from market participants to join. The purpose of the Committee is to support our wholesale secondary markets work in equities, derivatives, fixed income and commodity derivatives. The Committee’s task will be to: help develop […]
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 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 […]
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 […]
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 […]
