Tag: Press Releases
The FCA is acting to address concerns about the ease and speed with which people can make high-risk investments by proposing a significant strengthening of its rules on how high-risk financial products are marketed. This is a central element of the FCA’s Consumer Investments Strategy, published in September 2021, which aims to give consumers the confidence […]
European firms wishing to remain in the temporary permissions regime (TPR) need to meet the FCA’s standards to continue operating in the UK. The regime was designed to ensure that European firms operating in the UK via a passport when the Brexit transition period ended could continue operating temporarily while they seek full authorisation in the UK. The TPR should only be used by firms who want to operate in the UK in the long-term and meet the standards to do so. […]
The FCA will launch 2 market studies and gather further information to investigate access to wholesale data. In response to a call for input, the FCA heard concerns that limited competition in the markets for benchmarks and indices, credit ratings and trading data may increase costs for investors and affect investment choices. In a market […]
The FCA has commenced criminal proceedings against the 2 former directors of Collateral (UK) Ltd (Collateral), Peter Currie and Andrew Currie, who each face 2 charges under the Fraud Act 2006 and 1 charge under the Proceeds of Crime Act 2002. The FCA alleges that the Curries, who are brothers, dishonestly represented to investors that […]
The Financial Conduct Authority’s (FCA) mission is to protect consumers from harm, enhance the integrity of the UK’s financial system and promote competition. The regulator is continuing to pursue these objectives while also working to become a more innovative, adaptive and assertive regulator. This approach will enable the FCA to meet the challenges of the […]
From 1 January insurers will be banned from quoting customers a higher price for renewing their home or motor insurance than they would pay if they were a new customer. The new rules brought in by the FCA are expected to save consumers £4.2bn over the next 10 years. The FCA’s reforms follow a review […]
The FCA has launched the UK’s first official anti-fraud jingle in a bid to protect consumers against loan fee fraud over the Christmas period. Last year the FCA received 32% more loan fee fraud calls per month across the festive period than the rest of the year, with 1 in 20 calls between November and […]
Home News FCA to introduce new Consumer Duty to drive a fundamental shift in industry mindset Press Releases First published: 07/12/2021 Last updated: 07/12/2021 New plans from the Financial Conduct Authority will ensure a higher and more consistent standard of consumer protection for users of financial services and help to stop harm before it happens. […]
The FCA has appointed Stephen Braviner Roman as General Counsel and as a member of its Executive Committee following an open competition. Stephen is expected to join the FCA in February next year. Megan Butler has announced she will step down from her role as Executive Director of Transformation in the spring. Megan joined the […]
The FCA has accepted recommendations made by John Swift QC, who was commissioned to review the design, implementation and operation of the redress scheme set up for customers who were missold interest rate hedging products (IRHPs) from 2001. The actions taken by the Financial Services Authority (FSA) nearly a decade ago delivered redress of £2.2 […]
