Wise CEO fined £350,000 by FCA over tax payments – The Guardian

‘The founder of the money transfer service Wise has been fined £350,000 for failing to inform the City regulator that he had failed to pay his taxes.’

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The Guardian, 28th October 2024

Source: www.theguardian.com

Is cash king? The fundamental shift in retail banking, the FCA’s concerns and approach – Mountford Chambers

‘Fatima Jama explores the FCA’s new regulatory regime requiring banks and building societies designated by the Government to assess and fill gaps, or potential gaps, in cash access provision that significantly impact consumers and businesses.’ 

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Mountford Chambers, 5th August 2024

Source: www.mountfordchambers.com

UK insurance firms must ensure fair value of products following FCA review – OUT-LAW.com

‘Manufacturers and distributors of non-investment insurance products may need to re-consider the efficacy of their product value assessments and ensure they are fully aware of their responsibilities to consumers following the findings of a UK Financial Conduct Authority (FCA) thematic review.’

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OUT-LAW.com, 2nd September 2024

Source: www.pinsentmasons.com

City watchdog raises concerns over £4bn life insurance market – The Guardian

‘The UK financial watchdog is to investigate whether insurance companies are ripping off “vulnerable” customers who take out policies designed to financially protect them and their families in case of serious illness or death.’

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The Guardian, 28th August 2024

Source: www.theguardian.com

Solicitors hit out at FCA over car finance mis-selling delay – Legal Futures

‘Solicitors representing clients with claims for mis-sold car finance have expressed frustration at the Financial Conduct Authority’s (FCA) delay in completing its work on the issue.’

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Legal Futures, 1st August 2024

Source: www.legalfutures.co.uk

More transparency? Or naming and shaming? The FCA’s proposed new approach to enforcement – Mountford Chambers

‘Fatima Jama explores the FCA’s proposed new approach to enforcement and increasing the transparency of investigations.’

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Mountford Chambers, 2nd May 2024

Source: www.mountfordchambers.com

FCA’s Anti-Greenwashing Rule Takes Effect: What It Means for Compliance and ESG Accountability – Criminal Law Blog

‘The FCA’s long-awaited anti-greenwashing rule came into force on 31 May 2024. This rule is part of the wider Sustainability Disclosure Requirements regime and reflects the FCA’s strong commitment to ESG and to supporting the Government’s commitment to achieving net zero by 2050.’

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Criminal Law Blog, 14th June 2024

Source: www.kingsleynapley.co.uk

Insider trading conviction highlights FCA market abuse crackdown – OUT-LAW.com

‘A recent criminal conviction secured by the Financial Conduct Authority (FCA) in a case of insider trading highlights the UK regulator’s intention to proactively crackdown on cases of market abuse – not just with criminal prosecutions but through the enforcement of regulation too, a former senior market regulator has said.’

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OUT-LAW.com, 23rd February 2024

Source: www.pinsentmasons.com

UK to legislate for cryptoasset regulatory regime – OUT-LAW.com

‘The UK government has confirmed that it will legislate for a new regulatory framework for cryptoassets.’

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OUT-LAW.com, 31st October 2023

Source: www.pinsentmasons.com

UK government to introduce new rules to restrict ‘de-banking’ – OUT-LAW.com

‘The UK chancellor has announced new rules to restrict the practice of ‘de-banking’ amid reports that some banks may have closed customer accounts because of their political beliefs.’

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OUT-LAW.com, 25th October 2023

Source: www.pinsentmasons.com

UK regulators’ diversity plans for finance industry – OUT-LAW.com

‘Plans by the UK’s two financial regulators to consider non-financial misconduct such as sexual harassment as grounds for regulatory action could pose difficult questions for firms, an expert has said.’

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OUT-LAW.com, 28th September 2023

Source: www.pinsentmasons.com

UK retail financial services set for biggest overhaul in 20 years – The Guardian

‘The biggest regulatory shake-up of UK retail financial services for two decades will come into force on Monday in an effort to crack down on rip-offs and poor customer service.’

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The Guardian, 31st July 2023

Source: www.theguardian.com

FCA proposes tougher rules for cryptoasset marketing – OUT-LAW.com

Posted June 16th, 2023 in advertising, cryptocurrencies, financial services ombudsman, news by tracey

‘The UK Financial Conduct Authority (FCA) has set out new rules on how cryptoasset firms can advertise their products, including a cooling-off period for first time investors.’

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OUT-LAW.com, 15th June 2023

Source: www.pinsentmasons.com

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.’

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BBC News, 3rd May 2023

Source: www.bbc.co.uk

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.’

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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.’

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OUT-LAW.com, 17th February 2023

Source: www.pinsentmasons.com

FCA fines show focus remains on AML compliance – OUT-LAW.com

Posted January 16th, 2023 in banking, financial regulation, financial services ombudsman, fines, news by tracey

‘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.’

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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.

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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.’

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The Guardian, 18th January 2022

Source: www.theguardian.com

FCA wins appeal over action on Carillion collapse – Law Society’s Gazette

Posted November 1st, 2021 in appeals, company law, financial services ombudsman, insolvency, news by tracey

‘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.’

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Law Society's Gazette, 29th October 2021

Source: www.lawgazette.co.uk