Tag: Press Releases
The FCA has today set out an ambitious vision for potential reform to the way companies list in the UK that aims to attract more high quality, growth companies and give investors greater opportunities. In a paper published today, the FCA is continuing its discussion on how it can make the listing regime, the rules […]
Home News FCA strengthens consumer protection by speeding up removal of firms that do not use their regulatory permission Businesses required to prove they are carrying out the regulated activities they are permitted to or face losing this permission Failure to take action following two warnings will lead to cancellation of regulatory permission 28 days […]
The Financial Conduct Authority (FCA) has refused to authorise Alexander Jon Compliance Consulting Limited (AJCC) to provide regulatory hosting services. This is a service which would have allowed AJCC to take responsibility for firms carrying out regulated activities without being directly FCA approved, known as Appointed Representatives (ARs). AJCC could not demonstrate that it had […]
The FCA has prohibited five directors of financial advice firms from working in financial services and fined them over £1 million, after they caused significant losses to pension customers. The decisions follow an extensive 300-page judgement issued by the Upper Tribunal in which the five directors unsuccessfully challenged the FCA’s decisions. The Tribunal found Andrew […]
Home News FCA warns businesses to stop misleading credit adverts to protect consumers The Financial Conduct Authority (FCA) is warning lenders and brokers to stop using misleading terms in their advertising or face regulatory action. The increased cost of living means that more people may take out loans. Marketing that does not give clear information […]
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 […]
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 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 […]
A review by the FCA has found that challenger banks need to improve how they assess financial crime risk, with some failing to adequately check their customers’ income and occupation. In some instances, challenger banks did not have financial crime risk assessments in place for their customers. The review, conducted over 2021, identified a rise […]
QPay Europe Limited, which claims to be a fintech start up offering due diligence and underwriting services, has consented to a court order to give up £2,000,000 held in its name following proceedings brought by the Financial Conduct Authority (FCA) under the Proceeds of Crime Act in the Westminster Magistrates’ Court. The money was initially […]
