Tag: Press Releases

Sep 12
FCA decides to impose conditions on takeover of Link Group

Home News FCA decides to impose conditions on takeover of Link Group Following announcements made on Monday 12 September by Link Group to the Australian Securities Exchange and Dye and Durham (D&D) to the Toronto Stock Exchange, the Financial Conduct Authority is providing a short update on its involvement in the proposed takeover of the […]

Aug 26
PRA and FCA conclude investigations into senior managers in relation to the 2008 failure of HBOS plc

The PRA and FCA (together, the ‘Authorities’) joint investigations into certain former senior managers at HBOS plc have now concluded with a decision by each of the Authorities’ independent decision-makers to take no further action. The investigations, which began in 2016, were in response to Andrew Green QC’s November 2015 report into the reasonableness of […]

Aug 19
FCA fines Citigroup’s international broker-dealer £12.6m for failures relating to the detection of market abuse

The Financial Conduct Authority (FCA) has fined Citigroup Global Markets Limited (Citigroup Global Markets) £12,553,800 for failing to properly implement the Market Abuse Regulation (MAR) trade surveillance requirements relating to the detection of market abuse. By failing to properly implement the MAR trade surveillance requirements, Citigroup Global Markets could not effectively monitor its trading activities […]

Aug 19
FCA calls on victims of Richard Faithfull to come forward ahead of confiscation hearing

The Financial Conduct Authority (FCA) has called on victims of Richard Faithfull to come forward by 12 September 2022 in order to ensure they be part of any claim for compensation. On Thursday 9 September 2021 Richard Faithfull was found guilty of money laundering, contrary to s.327 Proceeds of Crime Act 2002 as part of […]

Aug 19
FCA warns Buy Now Pay Later firms about misleading adverts

The FCA has warned firms that offer Buy Now Pay Later (BNPL) products that although some agreements are unregulated the financial promotions of all BNPL products must comply with the financial promotion rules. Unauthorised firms might be committing a criminal offence if they don’t have an FCA-authorised firm approve their financial promotions.   Authorised firms selling […]

Aug 05
FCA appoints new Director of International

The FCA has appointed Ruairi O’Connell, OBE, as the new Director of International. Ruairi will join the FCA from the Home Office where he is Director, International. Ruairi has extensive experience in both the Home Office and the Foreign Office, including as British Ambassador to Kosovo. He will be responsible for helping to shape the FCA’s […]

Aug 05
FCA fines Sir Christopher Gent for disclosing inside information

The Financial Conduct Authority has fined Sir Christopher Gent, former non-executive Chairman of ConvaTec Group Plc, £80,000 for unlawfully disclosing inside information. While Chairman, Sir Christopher disclosed inside information to individuals in senior positions at two of ConvaTec’s major shareholders before this information had been announced properly to the market. The disclosures concerned an expected […]

Aug 03
FCA confirms new rules to improve oversight of Appointed Representatives

The FCA confirms new rules to make authorised financial firms more responsible for their appointed representatives (ARs).  ARs are not authorised by the FCA – they can offer certain financial services or products under the responsibility of authorised firms (known as principals). Principal firms are responsible for ensuring their ARs comply with our rules. While […]

Aug 02
FCA to open Leeds office in September with 100 new jobs

Home News FCA to open Leeds office in September with 100 new jobs The Financial Conduct Authority (FCA) will be recruiting to fill more than 100 new roles based in Leeds. The FCA is opening an office in the city later this year and has signed a deal for premises at 6 Queen Street in […]

Aug 01
FCA clamps down on marketing of high-risk investments to consumers

The FCA has finalised stronger rules to help tackle misleading adverts that encourage investing in high-risk products.  Under the stronger rules, firms approving and issuing marketing must have appropriate expertise, and firms marketing some types of high-risk investments will need to conduct better checks to ensure consumers and their investments are well matched.  Firms also […]