Tag: Statements

Aug 19
FCA responds to complaints into its regulation of Premier FX

The FCA has today responded to complaints from people who complained to the FCA after losing money when Premier FX (PFX), a payment services firm, authorised for money remittance, collapsed in 2018. Following an independent internal assessment of each complaint, the FCA has upheld or partially upheld 5 out of 31 allegations. The upheld or […]

Aug 16
IFPR and eligibility for enhanced SM&CR status as a Significant SYSC firm

When introducing the Investment Firm Prudential Regime (IFPR) in January 2022, we renamed and moved the definition of ‘Significant IFPRU firm’ used as one of the criteria for identifying Enhanced Firms under the Senior Managers & Certification Regime (SM&CR). This was to retain the definition in our rules following deletion of the IFPRU sourcebook. A […]

Aug 16
FCA encourages market participants to continue transition of LIBOR-linked bonds

Home News FCA encourages market participants to continue transition of LIBOR-linked bonds This statement is for issuers and bondholders of outstanding LIBOR-linked bonds. The FCA is strongly encouraging issuers and bondholders of outstanding LIBOR-linked bonds to consider this information and take the necessary action to transition outstanding LIBOR-linked bonds to fair alternative rates. Transition of […]

Aug 10
Larry Barreto pleads guilty to carrying on regulated activities without authorisation

On 29 July 2022 at Southwark Crown Court, Mr Larry Barreto pleaded guilty to two counts of carrying on regulated activities without authorisation. The charges relate to advice provided and arrangements made regarding a series of regulated mortgage contracts between June 2014 and March 2018. Mr Barreto is an unauthorised and prohibited person and as […]

Jul 27
FCA refuses authorisation to funeral plan provider

The FCA has issued a Decision Notice to One Life Funeral Planning Ltd (One Life) refusing the firm’s application for authorisation. One Life could not demonstrate that it was able to meet or comply with the FCA’s regulatory standards. The concerns included the firm having poor sales practices.   One Life has until 31 October to […]

Jul 22
Individual sentenced to four months imprisonment for contempt of court

The FCA has brought two contempt of court applications before Southwark Crown Court regarding ten breaches by an individual of a restraint order obtained under the Proceeds of Crime Act 2002. The restraint order is in place to protect any assets the individual may have an interest in (whether the proceeds of crime or otherwise) […]

Jul 19
The FCA welcomes the Secondary Capital Raising Review Report

The FCA welcomes the publication of Mark Austin’s Secondary Capital Raising Review (SCRR) final report on 19 July 2022, which was commissioned by the Government in October 2021.  The final SCRR report recommendations aim to promote the ability of companies to finance their businesses through public capital markets. They provide a valuable and timely contribution […]

Jul 04
FCA cancels listing of Umuthi Healthcare Solutions

The Financial Conduct Authority (FCA) has decided to discontinue the listing of the standard shares of Umuthi Healthcare Solutions plc (UHS). The FCA has determined that there are special circumstances, which preclude normal, regular dealing in the shares of UHS.  At this stage the FCA will not provide any further details of the circumstances which […]

Jun 24
Restrictions placed on Colbourne & Company

On 23 June 2022 the FCA imposed a number of restrictions on Colbourne & Company stopping it from carrying out any regulated activities due to concerns about the way it conducts its business. We consider that Colbourne & Company, a small IFA, has for a number of years been carrying out regulated activities outside it’s […]

Jun 22
FCA seeks re-trial in insider dealing case

Statements First published: 22/06/2022 Last updated: 22/06/2022 The Financial Conduct Authority will pursue a re-trial of Stuart Bayes and Jonathan Swann for insider dealing offences. This follows the Court’s decision on 25 May 2022 to discharge the jury after they were unable to reach a verdict following an eight-week trial at Southwark Crown Court.  The […]