Tag: Press Releases
From today, the FCA will regulate pre-paid funeral plans, following legislation passed by Parliament. The FCA is authorising 26 providers. Together these firms hold approximately 1.6 million plans, which make up 87% of the market. Regulation of the sector will bring higher standards and boost consumer protection. New rules, which take effect from today, include: […]
The three individuals have referred their respective Decision Notices to the Upper Tribunal where they will each present their case. Any findings in the individuals’ Decision Notices are therefore provisional and reflect the FCA’s belief as to what occurred and how it considers their behaviour should be characterised. Carillion has not referred its Decision Notice […]
The Financial Conduct Authority (FCA) has confirmed its plans to bring in a new Consumer Duty, which will fundamentally improve how firms serve consumers. It will set higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first. The Duty is made up of an overarching principle […]
The Bank of England (the Bank), Prudential Regulation Authority (PRA) and FCA (collectively the ‘supervisory authorities’) have set out potential measures to oversee and strengthen the resilience of services provided by critical third parties (CTPs) to the UK financial sector. CTPs provide certain services to regulated financial services firms and financial market infrastructure firms (‘FMIs’) […]
Home News Half a million consumers paying less credit card interest following FCA intervention Nearly 600,000 people are now paying less in interest and charges on their credit card debt because of changes made by the FCA. In its Annual Report, published today, the organisation has set out how it has worked over the past […]
The FCA has fined The TJM Partnership Limited (in liquidation) £2,038,700 for failing to ensure it had effective systems and controls to identify and reduce the risk of financial crime and money laundering in its business. This is the third case brought by the FCA in relation to cum-ex trading and the largest fine so […]
As part of its work in response to the increased cost of living, the FCA has told banks they must treat small business customers fairly when collecting and recovering debts. A review of 11 bank’s collection practices identified a number of issues, including: Lenders not treating small businesses fairly when they try to agree a […]
HM Treasury has today announced the appointment of Ashley Alder as the new Chair of the FCA. Ashley is currently Chief Executive Officer of the Securities and Futures Commission (SFC) in Hong Kong, a role he has held since 2011. Ashley also chairs the Board of the International Organization of Securities Commissions (IOSCO) and sits […]
The Financial Conduct Authority (FCA) and MoneyHelper are urging consumers to get help as soon as possible if they are struggling financially because of the rising cost of living. Millions of people get help with their finances every year. However, new research suggests many borrowers are missing out on available support. The research reveals some […]
The Financial Conduct Authority (FCA) has appointed six directors as it expands its headcount to meet a growing remit and to achieve its ambitious strategy, which launched in April. The appointments announced today, which fill a mix of new and existing roles, draw on the FCA’s internal talent and external expertise. They add to the […]
