UK watchdog plans to shake up stock listing rules – BBC News
‘The UK’s financial watchdog has announced plans to shake up its rules in a bid to attract more companies to list shares on UK stock markets.’
BBC News, 3rd May 2023
Source: www.bbc.co.uk
Category: financial services ombudsman
FCA set to regulate ‘buy now pay later’ payment products in UK – OUT-LAW.com
‘The UK government has published draft legislation which would bring the fast-growing “buy now pay later” (BNPL) industry within Financial Conduct Authority (FCA) regulation and bolster protection for consumers.’
OUT-LAW.com, 17th February 2023
Source: www.pinsentmasons.com
Judicial review bid has implications for UK SIPP operators – OUT-LAW.com
‘A decision expected from the Court of Appeal in London could re-open the door for the courts to consider the scope of self-invested personal pension scheme (SIPP) operators’ due diligence obligations under Financial Conduct Authority (FCA) rules, and on their obligations to compensate customers where there have been failings, legal experts have said.’
OUT-LAW.com, 17th February 2023
Source: www.pinsentmasons.com
FCA fines show focus remains on AML compliance – OUT-LAW.com
‘Recent fines issued to two banks by the Financial Conduct Authority (FCA) highlight the regulator’s continued focus on driving compliance with anti-money laundering (AML) requirements in UK financial services, an expert has said.’
OUT-LAW.com, 13th January 2023
Source: www.pinsentmasons.com
FCA investigates Wise co-founder after tax default – The Guardian
‘The UK’s financial regulator is investigating the co-founder of payments company Wise after he failed to pay his taxes.
The Guardian, 27th June 2022
Source: www.theguardian.com
Treasury plans crackdown on ‘misleading’ cryptocurrency ads – The Guardian
‘The government has unveiled plans to crack down on misleading cryptocurrency ads by making them subject to the same regulations as marketing for other financial products such as shares and insurance.’
The Guardian, 18th January 2022
Source: www.theguardian.com
FCA wins appeal over action on Carillion collapse – Law Society’s Gazette
‘The Financial Conduct Authority does not need the permission of the insolvency court to take regulatory action against a company in liquidation, the High Court has ruled in a case concerning the “spectacular collapse” of construction giant Carillion.’
Law Society's Gazette, 29th October 2021
Source: www.lawgazette.co.uk
Court refuses to block potential claim against solicitors over fees – Legal Futures
‘The High Court has refused to issue an order to prevent a high-profile collapsed company’s investors from trying in the future to reclaim the legal fees paid by its boss in defending him from a civil claim.’
Legal Futures, 6th July 2021
Source: www.legalfutures.co.uk
Financial watchdog bans crypto exchange Binance from UK – The Independent
‘Britain’s Financial Conduct Authority (FCA) has stated that Binance, one of the world’s largest cryptocurrency exchanges, is not permitted to undertake any regulated activity in the UK.’
The Independent, 27th June 2021
Source: www.independent.co.uk
Insurers must not penalise loyal customers, says FCA – BBC News
‘People renewing their home or motor insurance will pay no more than they would as a new customer from January. The new rules have been confirmed by the City regulator, the Financial Conduct Authority (FCA), following years of complaints.’
BBC News, 28th May 2021
Source: www.bbc.co.uk
Social media sites warned over risky investment offers – The Guardian
‘The City regulator has warned social media sites that it may take action if they continue to promote risky and sometimes fraudulent investments to often inexperienced consumers.’
The Guardian, 20th April 2021
Source: www.theguardian.com
City watchdog halts new business at Buy2LetCars – The Guardian
‘The City regulator has halted new business at a company that promises bumper returns from a car hire scheme aimed at people with poor credit ratings, prompting a backlash from the firm at the “bizarre” decision.’
The Guardian, 21st February 2021
Source: www.theguardian.com
FCA warning over ‘risky’ TikTok trading tips – BBC News
‘TikTok creators have been offering “risky” trading tips in the wake of the GameStop shares frenzy, a UK regulator has warned. The Financial Conduct Authority (FCA) said people should be wary of users “promising high-return investments”.’
BBC News, 7th February 2021
Source: www.bbc.co.uk
FCA v Arch Insurance (UK) Ltd and others – St John’s Chambers
‘This short note summarises the key parts of the Supreme Court’s decision in this important test case, by which it allowed most of the FCA’s appeals against the decision of the Divisional Court and found largely in favour of policyholders.’
St John's Chambers, 21st January 2021
Source: www.stjohnschambers.co.uk
New Judgment: Financial Conduct Authority v Arch Insurance (UK) Ltd and Ors [2021] UKSC 1 – UKSC Blog
‘In March 2020, the UK Government began to take a series of measures to combat the transmission of COVID-19. The present appeals considered the impact of these actions and measures on 28 clauses in the 21 lead policies written by the Appellant Insurers.’
UKSC Blog, 15th January 2021
Source: ukscblog.com
City watchdog failed to regulate firm that lost investors’ £236m – The Guardian
‘The UK’s financial watchdog failed to properly supervise and regulate London Capital & Finance, a mini-bond provider, before the firm collapsed and wiped out the savings of thousands of people, an independent inquiry has concluded.’
The Guardian, 17th December 2020
Source: www.theguardian.com
No business interruption decision from Supreme Court until next year – Law Society’s Gazette
‘Judgment in an urgent test case to determine whether businesses hit by Covid-19 will receive insurance pay-outs will not be handed down by the Supreme Court until January at the earliest. Five Supreme Court justices heard a case between the Financial Conduct Authority and six insurance companies in November. The dispute concerned business interruption insurance (BII) and the court was asked to rule on provisions in insurance policies relating to disease clauses, prevention of access clauses and hybrid clauses.’
Law Society's Gazette, 15th December 2020
Source: www.lawgazette.co.uk
Collective Actions in the Supreme Court – Competition Bulletin from Blackstone Chambers
‘The big news from today’s UK Supreme Court collective action decision in Mastercard v Merricks [2020] UKSC 51 is not only that Mr Merricks won and defeated the appeal, but that the Supreme Court approached the issues in a far more claimant-friendly way than even the Court of Appeal had done.’
Competition Bulletin from Blackstone Chambers, 11th December 2020
Source: competitionbulletin.com
Mastercard judgment ‘lowers bar’ for collective action – Law Society’s Gazette
‘The Supreme Court’s ruling against Mastercard will make it easier for group damages claims to proceed to trial, commentators have said. However, the card issuer’s solicitors have stressed the “very unusual circumstances” of the judgment, in which justices were divided on key issues.’
Law Society's Gazette, 11th December 2020
Source: www.lawgazette.co.uk
Supreme court case looms as insurers battle firms over Covid cover – The Guardian
‘Eight months since the UK coronavirus lockdown forced the temporary closures of restaurants, bars, shops, hairdressers and other small businesses, thousands who are still awaiting payouts from their insurers to cover lost income will hope a supreme court hearing will result in a ruling that favours about 200,000 policyholders.’
The Guardian, 16th November 2020
Source: www.theguardian.com
