Tag: Press Releases
The Financial Conduct Authority (FCA) is recruiting around 200 new roles as part of its Transformation programme. The regulator has recently recruited 95 colleagues in new positions in Authorisations, which manages applications from financial services providers, investment firms and consumer credit firms to be authorised or registered by the FCA. The FCA has also committed […]
The FCA today issued a notice of discontinuance in relation to the prosecution of Craig Whyte who had been charged with an offence of failing to comply with a statutory Notice issued under Section 49 Regulation of Investigatory Powers Act (RIPA 2000). The service of the notice terminates the prosecution. The decision to end the […]
The Financial Conduct Authority has fined Barclays Bank Plc (Barclays) £783,800 for oversight failings in its relationship with collapsed payments firm Premier FX. Barclays was Premier FX’s sole banker in the UK. The financial penalty takes into account that Barclays has agreed voluntarily to cover the losses of Premier FX customers whose claims have been […]
The Financial Conduct Authority (FCA) secures changes to potentially unfair and unclear terms in the contracts of Clearpay, Klarna, Laybuy and Openpay. The FCA was concerned there was a potential risk of harm to consumers as a result of the way some of the firm’s terms were drafted. The Woolard Review into change and innovation […]
Following a prosecution brought by the FCA against 3 former employees of Redcentric Plc, Timothy Coleman, former Chief Financial Officer, has been found guilty today of 4 charges concerning the making of false and misleading statements to the market. At an earlier stage in proceedings, a second defendant, Estelle Croft, a former Finance Director at […]
A critical step in the necessary shift in global interest rate markets towards more robust foundations was reached on 31 December 2021, as most LIBOR settings were published for the final time. Sterling markets navigated this transition on time and with minimal disruption, supporting global transition efforts towards alternative risk-free reference rates (RFRs). The Bank […]
HM Treasury has announced that they have started the search for the next Chair of the FCA. While the search for Charles Randell’s permanent successor concludes, Richard Lloyd OBE will act as interim chair of the FCA from 1 June 2022. Aidene Walsh will act as interim chair of the PSR from 1 April 2022. Richard […]
The Financial Conduct Authority (FCA) has appointed Direct Line Group CEO, Penny James, as Chair of its Practitioner Panel. Penny, who has been a member of the Panel since September 2020, will take up the post from 1 March 2022. She succeeds Paul Feeney, CEO of Quilter. The FCA Practitioner Panel is an independent statutory […]
Firms using company or insolvency law to manage their liabilities have been warned they could face assertive action by the FCA if their proposals unfairly benefit them at the expense of their customers. The FCA has seen an increase in the number of firms developing proposals, such as Scheme of Arrangements, to deal with significant […]
Home News FCA review finds evidence of growing competition in retail banking Press Releases First published: 20/01/2022 Last updated: 20/01/2022 Greater competition in retail banking is driving choice and lower prices for consumers and small businesses, despite the financial impact of the pandemic. In an update to its 2018 strategic review of retail banking, the […]
