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....One of the best-known lenders, Wonga, has signed up with a comparison site called Choose Wisely. Following a separate investigation, the Financial Conduct Authority (FCA) imposed a cap on payday loan costs from the start of January 2015. ... [Read full article on BBC ]
Thursday 25th of May 2017 11:07:20 PM
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....She reported the crime to the police, and was fully refunded within two weeks. Andrew Bailey, chief executive of the Financial Conduct Authority said: "The overall risk is low" but added "we have been urgently working with card schemes and banks to ensure this issue is fixed. ... [Read full article on BBC ]
Thursday 25th of May 2017 11:37:11 PM
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....There is widespread concern over the levels of personal debt among working households. The City regulator - the Financial Conduct Authority (FCA) - has warned of an acceleration in consumer borrowing, such as loans, overdrafts, credit card debt and car finance. ... [Read full article on BBC ]
Monday 22nd of May 2017 11:24:11 PM
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.... And loans have turned in recent years into leases that have customers renewing contracts every three years, keeping them in effect permanently hooked. The main consumer regulator for the financial services industry, the Financial Conduct Authority, is reviewing the market for car leasing, which now accounts for more than 90% of car sales, to check for mis-selling to poorer households who will be vulnerable to default. ... [Read full article on Guardian ]
Sunday 21st of May 2017 05:59:46 AM
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....Since April 2015, it has become easier to withdraw money from pension funds, under the then government's so-called "pension freedoms". The Financial Conduct Authority (FCA) provides a list of known pension scammers. ... [Read full article on BBC ]
Tuesday 23rd of May 2017 03:23:01 PM
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Latest Finance News related to Financial Conduct Authority

SFO delays decision again on charging Barclays over 2008 fundraising image
.... The bank has since said the fees amounted to £332m payable over five years. Barclays first revealed investigations into Qatari arrangements in July 2012 and admitted in September 2013 that the City regulator, the Financial Conduct Authority, wanted to fine it £50m for “reckless behaviour” during the cash calls. ...
Contactless payment fraud soars to £7m image
Source : BBC [Read Article] Thursday 25th of May 2017 11:37:11 PM
....She reported the crime to the police, and was fully refunded within two weeks. Andrew Bailey, chief executive of the Financial Conduct Authority said: "The overall risk is low" but added "we have been urgently working with card schemes and banks to ensure this issue is fixed. ...
New payday loan regulations come into force image
Source : BBC [Read Article] Thursday 25th of May 2017 11:07:20 PM
....One of the best-known lenders, Wonga, has signed up with a comparison site called Choose Wisely. Following a separate investigation, the Financial Conduct Authority (FCA) imposed a cap on payday loan costs from the start of January 2015. ...
SFO to investigate pension liberation scams image
Source : BBC [Read Article] Tuesday 23rd of May 2017 03:23:01 PM
....Since April 2015, it has become easier to withdraw money from pension funds, under the then government's so-called "pension freedoms". The Financial Conduct Authority (FCA) provides a list of known pension scammers. ...
Debt fears remain despite manifesto 'breathing space' plans image
Source : BBC [Read Article] Monday 22nd of May 2017 11:24:11 PM
....There is widespread concern over the levels of personal debt among working households. The City regulator - the Financial Conduct Authority (FCA) - has warned of an acceleration in consumer borrowing, such as loans, overdrafts, credit card debt and car finance. ...
Car loans, low rates, second mortgages: all the ingredients for a new credit crunch image
.... And loans have turned in recent years into leases that have customers renewing contracts every three years, keeping them in effect permanently hooked. The main consumer regulator for the financial services industry, the Financial Conduct Authority, is reviewing the market for car leasing, which now accounts for more than 90% of car sales, to check for mis-selling to poorer households who will be vulnerable to default. ...
What's the best way to release equity for home improvements? image
Source : Guardian [Read Article] Thursday 18th of May 2017 06:00:18 AM
....To decide which option is best for you, it would make sense to get advice from an independent financial adviser who can search the whole market and who also has a specialist equity release qualification. You should also check that the adviser you use is on the Financial Conduct Authority register and a member of, and on, the Equity Release Council’s member directory. ...
Richard Branson says scammers are using his name to dupe investors image
Source : Guardian [Read Article] Wednesday 17th of May 2017 03:08:44 PM
....”. Some countries have banned the trading of binary options, which are not currently regulated by the Financial Conduct Authority (FCA), so investments in them are not protected by the UK’s financial services complaints and compensation scheme. ...
Vanguard move sparks price war for personal investors image
Source : BBC [Read Article] Tuesday 16th of May 2017 12:45:12 PM
....It will be offering only its own funds to general investors, unlike online stockbrokers and independent financial advisers (IFAs) who may offer a much wider range of investments such as individual shares, unit trusts and investment trusts. Sean Hagerty of Vanguard said the firm was following the lead of the Financial Conduct Authority (FCA), which has complained that fees charged by the investment industry are too high. ...
Giant US fund manager to shake up UK investment market by halving fees image
....5% charge means a fund manager and advisers help themselves to 38% of an individual’s pension savings, much of it, they alleged, the result of pointless short-term positions and over-trading. Sean Hagerty, head of Vanguard’s European business, said: “Only recently, the FCA’s [Financial Conduct Authority’s] asset management market study highlighted that fees have not decreased enough based on the economies of scale achieved by the industry. ...
Debt fears grow as county court judgments soar by 35% image
Source : Guardian [Read Article] Monday 15th of May 2017 05:07:52 PM
....In recent months the Bank of England, MPs and charities have warned that consumer debt levels were dangerously high, citing increases in lending from banks, car leasing companies, credit card firms and shops offering interest free-credit. Concerns that the purchase of cars with complicated loans, known as PCPs, has increased the debt levels of many low income families has triggered an investigation into potential mis-selling by the main consumer finance watchdog, the Financial Conduct Authority. ...
I cancelled my car insurance in the cooling-off period, but was still charged image
.... As a comparison, Aviva charges an admin fee of £38 for cancelling policies. One Call says its charges are entirely justified and in line with the Financial Conduct Authority regulations. ...
Number of second charge mortgages leaps to nine-year high image
Source : Guardian [Read Article] Friday 12th of May 2017 03:10:13 PM
....However, the landscape for these loans has arguably changed a lot in the last few years. As of March 2016, both first and second charge mortgages are now regulated under the same regime by the Financial Conduct Authority (FCA), while interest rates on these deals have fallen. ...
Car finance deals soar to new record image
Source : BBC [Read Article] Friday 12th of May 2017 10:21:27 AM
....The vast majority of the purchases were via so-called Personal Contract Purchases (PCPs). The Bank of England and the Financial Conduct Authority (FCA) have raised concerns about such deals. ...
Is it better to borrow money for a foreign property from home or overseas? image
Source : Daily Express [Read Article] Friday 12th of May 2017 12:00:00 AM
....The other issue with getting an overseas mortgage is that you will not receive the same protections as you would if you dealt with a UK institution. Bodies like the Financial Ombudsman Service can only deal with complaints regarding companies that operate in or from the UK, while the Financial Conduct Authority (FCA) only regulates UK businesses, so if something went wrong you would not be able to claim compensation on an overseas mortgage. ...
Barclays chief apologises to shareholders over whistleblowing incident image
Source : Guardian [Read Article] Wednesday 10th of May 2017 06:26:33 PM
.... Even so, he said, the bank had treated the matter as a whistleblowing incident – although McFarlane said many issues raised by whistleblowers are not found to be valid. Both the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority are investigating the matter. ...
Barclays CEO sees no reason for Brexit jobs shift to Europe image
Source : Guardian [Read Article] Wednesday 10th of May 2017 12:12:29 PM
....Staley made two attempts to discover the identity of the individual making the allegations and began the meeting by apologising to shareholders for his actions, which he now says were a mistake. Both the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority are investigating the matter. ...
Barclays boss sees off shareholder rebellion image
Source : BBC [Read Article] Wednesday 10th of May 2017 07:04:15 AM
....He later told the Barclays board he had been trying to protect the individual who had experienced personal difficulties, but admitted he got "too personally involved". The Financial Conduct Authority and the Prudential Regulation Authority are now both investigating the matter. ...
Drive carefully – I can see a credit car crash up ahead | Phillip Inman image
.... Doomsayers predict a tipping point will be reached when car companies and lenders are laden with unsold cars and consumer debts that cannot be repaid. A team inside the Financial Conduct Authority, the main City watchdog, has begun drawing up the terms of an inquiry into how much banks have lent to car buyers, and the likelihood of these institutions (many of them still struggling with the overhang of debts from the 2008 crash), getting their money back. ...
Don't change insurer regularly? It could be costing you more than £1,400 image
....New rules introduced last month force insurers to tell buyers at renewal stage what their premium was the year before. The Financial Conduct Authority said that measure alone should save consumers more than £100m, by alerting them to the scale of a premium increase. ...
Banks accused of putting lives at risk as charity accounts are shut without notice image
.... It had closed them without explanation following a review. Last year the Financial Conduct Authority (FCA) warned of an “avalanche” of de-risking which could close thousands of accounts. ...
Is it safe to manage currency transfers on your phone? image
Source : Daily Express [Read Article] Friday 5th of May 2017 03:10:00 PM
.... . You should also always aim to use the services of a currency broker that’s authorised by the Financial Conduct Authority (FCA). ...
Fears savers are being tricked OUT of gold-plated final salary pensions image
Source : Daily Express [Read Article] Thursday 4th of May 2017 11:49:00 AM
....This would also help advisors give clients the best options, as anyone with a pension pot worth over £30,000 is required to take financial advice before transferring into a DC scheme. The Financial Conduct Authority (FCA) is launching a consultation on the rules for advisors who are being paid to carry out transfers, suggesting the watchdog is concerned about the current situation. ...
Billions wasted on home and car insurance as people fail to shop around, says new research image
....”. Less than a third of homeowners have switched their household insurer in the last four years, but new rules introduced last month by City watchdog the Financial Conduct Authority (FCA) make it easier to see how much you lose by staying put. ...
The home insurance mistake costing YOU £123 every year image
Source : Daily Express [Read Article] Wednesday 3rd of May 2017 12:05:00 AM
....At the same time, nine out of 10 people said price is the most important factor for an insurance policy. Regulator the Financial Conduct Authority (FCA) has recently introduced rules which prompt customers to compare quotes at renewal. ...
If Barclays CEO is shown the door, let it be for the right reason | Nils Pratley image
.... It is staggering that Staley, whether he was badly advised or not, could have made such a mistake. The regulator, the Financial Conduct Authority, is investigating and its judgment is keenly awaited. ...
Theresa May promised to tackle greedy bosses – instead she’s helping them | Polly Toynbee image
.... PIRC, the pensions and investments research consultants who rate company performance on behalf of shareholders, noted HSBC’s 62% drop in profits last year, and the bank has closed 62 UK branches and shifted 1,000 jobs to Paris due to Brexit. The Financial Conduct Authority rates HSBC as the second-worst bank for customer complaints about banking, credit cards and mortgages. ...
Barclays chief admits he 'made a mistake' over whistleblowing case image
Source : Guardian [Read Article] Friday 28th of April 2017 08:27:59 AM
.... This related to the conduct of Tim Main, who worked with Staley at US bank JP Morgan and was then recruited to Barclays in a senior role last June. He had not offered to resign, Staley said, in the face the regulatory investigation into himself and the bank by the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority. ...
Barclays boss faces shareholder revolt over whistleblowing case image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:37:05 PM
.... He has issued a written apology for becoming too personally involved in the whistleblowing case, which related to the conduct of Tim Main, who worked with Staley at US bank JP Morgan and was then recruited to Barclays in a senior role last June. Both the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority are investigating the matter. ...
Lloyds appoints ex-high court judge to review handling of HBOS fraud image
Source : Guardian [Read Article] Wednesday 26th of April 2017 11:03:08 AM
.... Six people were jailed in February after a jury was told how they spent the proceeds on superyachts and sex parties. The findings of the investigation by Dame Linda Dobbs, who retired as a judge four years ago, will be shared with the Financial Conduct Authority, although it is not clear whether it will be published. ...
Bill sets out plan to tackle 'extortionate' UK overdraft fees image
Source : Guardian [Read Article] Sunday 23rd of April 2017 04:51:46 PM
....Bank customers ripped off by “extortionate” overdraft fees will get support next week from a parliamentary bill that promises to protect the most financially vulnerable from escalating charges. Rachel Reeves, a Labour MP who sits on the Treasury select committee, will outline plans on Tuesday for regulators at the Financial Conduct Authority (FCA) to cap the maximum amount that banks can charge customers for unauthorised overdrafts, similar to the limit imposed on charges on payday loans of £24 a month. ...
Low rates, tight margins: the mortgage market looks worryingly familiar image
.... Soon customer deposits will be just 5%, not 35%, and the information needed from borrowers on how they intend to pay will be sketchier. The Bank of England and the Financial Conduct Authority, which monitors how mortgages are sold, like to assure critics that they are not the “light-touch” regulators of old. ...
Financial watchdog to investigate car finance market image
Source : BBC [Read Article] Wednesday 19th of April 2017 10:47:47 AM
....Britain's financial watchdog is to investigate the car finance market, with concerns about irresponsible lending. The Financial Conduct Authority (FCA) is also raising concerns about a lack of transparency and potential conflicts of interest. ...
Investors think the election means a softer Brexit – are they right? image
Source : Guardian [Read Article] Tuesday 18th of April 2017 06:40:16 PM
.... That sounds a more realistic plan. Andrew Bailey, head of the Financial Conduct Authority, refused to mention Jes Staley or Barclays when asked about whistleblowing. ...
Brexit, PPI and high cost credit are top priorities for City watchdog image
Source : Guardian [Read Article] Tuesday 18th of April 2017 05:32:29 PM
....The City regulator has pledged to ensure that financial firms remain strong in the face of Brexit in its annual list of priorities, which also includes protecting vulnerable customers from overly expensive loans. Andrew Bailey, chief executive of the Financial Conduct Authority, said the regulator’s lawyers were scrutinising EU financial sector rules as part of the government’s “great repeal bill”, which will transfer thousands of EU regulations into UK legislation after Brexit. ...
Financial Conduct Authority concerned over personal debt image
Source : BBC [Read Article] Tuesday 18th of April 2017 09:09:54 AM
. Personal debt levels are high enough to merit the whole sector coming under the microscope of the UK's financial regulator, the head of the Financial Conduct Authority (FCA) has said. ...
United Airlines shows why it's time to deplane corporate-speak image
Source : Guardian [Read Article] Sunday 16th of April 2017 05:59:23 AM
....Staley now faces a significant cut to his bonus, and worse could follow. The Financial Conduct Authority and the Prudential Regulation Authority are investigating him. ...
Labour plans to halt 'epidemic' of high street bank closures image
Source : Guardian [Read Article] Thursday 13th of April 2017 11:01:17 PM
. Labour has pledged to tackle what it calls an epidemic of high street bank closures by only permitting branches to be shut after a local consultation and with the permission of the Financial Conduct Authority (FCA). ...
US senator presses Deutsche Bank for details of Trump loans image
Source : Guardian [Read Article] Wednesday 12th of April 2017 04:29:14 PM
.... The “mirror trades” scheme was run out of its Moscow office. The UK’s Financial Conduct Authority imposed a £163m fine – its biggest ever – for the same offence. ...
Tesco full-year pre-tax profits hit by fine image
Source : BBC [Read Article] Wednesday 12th of April 2017 06:37:34 AM
....Supermarket giant Tesco has reported a fall in full-year pre-tax profit after it was fined for overstating its profits in 2014. It said it had taken a £235m charge after it agreed a deferred prosecution with the Serious Fraud Office and the Financial Conduct Authority in March. ...
Tesco shares tumble despite first UK growth in seven years image
Source : Guardian [Read Article] Wednesday 12th of April 2017 06:26:58 AM
....Tesco is now close to drawing a line under the accounting scandal. It has agreed to pay a fine of £129m to settle the Serious Fraud Office investigation and has also struck an £85m deal with the Financial Conduct Authority to compensate affected shareholders. ...
Barclays whistleblower case sparks calls for more protection image
Source : Guardian [Read Article] Tuesday 11th of April 2017 11:59:31 AM
....Jes Staley is being investigated by financial regulators and faces a significant cut to his pay after admitting trying to unmask a whistleblower who made allegations about a long-term associate he had brought to the bank. Public Concern at Work (PCaW), a charity for whistleblowers, said there was “much work to be done” while GoodCorporation said the Barclays saga would be a “real test” for the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority. ...
Under-fire Barclays chief is probably guilty of behaving like a chump image
Source : Guardian [Read Article] Monday 10th of April 2017 11:01:12 PM
....We know that Barclays chief executive Jes Staley committed a “serious offence” when he tried to unmask a whistleblower, and that the poor thing will now have to get by on just his basic salary of nearly £10,000 a day when his bonus is slashed as punishment. What we don’t know is if the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority will go further once their investigations are concluded. ...
High court approves £129m fine for Tesco over accounting scandal image
Source : Guardian [Read Article] Monday 10th of April 2017 06:18:16 PM
.... The ruling means that Tesco will pay out £235m to settle investigations into the 2014 accounting scandal. As well as the £129m, it has separately agreed with the Financial Conduct Authority to pay about £85m in compensation to investors affected by a trading statement on 29 August 2014 that overstated profits. ...
The Crusader: Trader falls victim to debt collector trying to get back money owed image
.... . Firms that collect debts due under credit agreements, such as a personal loan, credit card or overdraft, do have to be authorised however by the Financial Conduct Authority (FCA). ...
City regulators investigate Barclays boss Jes Staley image
Source : BBC [Read Article] Monday 10th of April 2017 06:32:38 AM
....He had tried to discover who wrote a whistleblowing letter to the bank. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will investigate his conduct. ...
Tesco to report a return to financial health image
Source : Guardian [Read Article] Sunday 9th of April 2017 04:14:41 PM
.... Last month the company agreed to pay a fine of £129m to settle the Serious Fraud Office investigation. It also struck a £85m deal with the Financial Conduct Authority to compensate affected shareholders. ...
Wonga data breach could affect nearly 250,000 UK customers image
Source : Guardian [Read Article] Sunday 9th of April 2017 11:33:39 AM
.... New directors have replaced the firm’s original founders, a three-month loan launched alongside the short-term payday loan, and marketing has been changed to appeal to a better-off audience. However, it has been hard hit by tougher rules on lending, introduced when the Financial Conduct Authority (FCA) took on stewardship of the sector. ...
Property’s equity can help your loved ones image
Source : Daily Express [Read Article] Sunday 9th of April 2017 12:01:00 AM
Are the wheels about to fall off the credit gravy train? image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
....Debt charities say stretched households are vulnerable to small changes in their income, rising inflation and higher interest rates. Last week, UK watchdog the Financial Conduct Authority (FCA) also raised the alarm and set out proposals to help millions of people with long-term credit card debt. ...
Revealed: the huge profits earned by big banks on overseas money transfers image
.... So if someone wants to convert their pounds to euros, TransferWise finds someone who wants to transfer money in the opposite direction. It is regulated by the Financial Conduct Authority, but money is not protected by the Financial Services Compensation Scheme. ...
Lloyds to pay £100m fraud compensation image
Source : BBC [Read Article] Friday 7th of April 2017 08:40:13 AM
....The court heard they stole hundreds of millions of pounds from small businesses who were their clients. At the same time, the Financial Conduct Authority (FCA) announced that it is re-opening an enquiry into the fraud. ...
Lloyds expects payouts to HBOS fraud victims to total £100m image
Source : Guardian [Read Article] Friday 7th of April 2017 08:16:49 AM
....It comes after former HBOS manager Lynden Scourfield and others were jailed for carrying out a £245m loans scam and squandering the profits on sex parties and luxury holidays. The Financial Conduct Authority is also resuming its investigation into the episode after it was placed on hold in 2013 at the request of Thames Valley police. ...
£100MILLION - that's how much Lloyds expects to pay out in fraud compensation image
....It comes after a group of corrupt financiers were jailed for carrying out a £245 million loans scam and squandering the profits on high-end prostitutes and luxury holidays. The Financial Conduct Authority (FCA) is also resuming its investigation into the episode after it was placed on hold in 2013 at the request of Thames Valley Police. ...
The Guardian view on rising personal debt: more prudence please | Editorial image
.... Rather than help people struggling with repayments, it is in their interests to offer products that encourage consumers to use credit cards as an expensive form of long-term borrowing. The Financial Conduct Authority (FCA) estimates there are 2 million people carrying persistent debt on their credit card, defined as paying more in fees and charges over an 18-month period than the amount they borrowed in the first place. ...
Thousands of Tesco jobs at risk under plan to axe some night shifts image
Source : Guardian [Read Article] Wednesday 5th of April 2017 04:55:52 PM
.... But the discovery of accounting irregularities forced him to embark on an overhaul of the business, including the disposal of its South Korean chain Homeplus for £4bn. Last week Tesco agreed to pay £235m to settle investigations by the Serious Fraud Office (SFO) and Financial Conduct Authority into the accounting scandal. ...
Bank of England sounds new alarm over consumer credit binge image
Source : Guardian [Read Article] Tuesday 4th of April 2017 11:21:46 AM
....On Monday, the financial watchdog set out proposals to help millions of people languishing under long-term credit card debt. The Financial Conduct Authority (FCA) said charges could be eased or withdrawn if customers could not afford to curb their liabilities through a repayment plan. ...
Struggling credit card holders could see fees and charges waived image
Source : Guardian [Read Article] Monday 3rd of April 2017 10:37:47 AM
....Millions of people languishing under long-term credit card debt could see their charges eased or withdrawn under proposals outlined by the financial watchdog. The Financial Conduct Authority (FCA) has announced a raft of measures to help people in persistent credit card debt, including waiving or cancelling interest and charges if customers cannot afford to curb their liabilities through a repayment plan. ...
Credit card interest 'could be waived' for longstanding debt image
Source : BBC [Read Article] Monday 3rd of April 2017 06:53:47 AM
....Credit card firms must do more to help millions of customers unable to clear debt, the financial regulator has said. The Financial Conduct Authority (FCA) has published proposals that could mean credit card companies cancelling any interest or charges in extreme cases. ...
WhatsApp leak lands ex-investment banker with £37,000 fine image
Source : Guardian [Read Article] Thursday 30th of March 2017 12:35:59 PM
....A former investment banker has been fined more than £37,000 for sharing confidential client information over the WhatsApp messaging service. The Financial Conduct Authority said it was fining Christopher Niehaus £37,198 over his failure to act with “due skill, care and diligence” in a bid to impress the people to whom he was leaking the information. ...
Crackdown on contactless card security flaw welcomed by MPs image
Source : Guardian [Read Article] Thursday 30th of March 2017 09:13:12 AM
....The City regulator has set out measures to tackle fraudulent payments on contactless cards which have been reported lost or stolen. In a letter to the Treasury select committee, published on Thursday, the Financial Conduct Authority (FCA) said consumer losses on contactless payments were relatively small but in some circumstances cards could be used by a fraudster several months after it had been cancelled. ...
Measures to ensure your plans are as safe as houses image
Source : Daily Express [Read Article] Wednesday 29th of March 2017 08:50:00 AM
. The sector is regulated by City watchdog the Financial Conduct Authority, giving you added security. ...
Revealed: Vulnerable pensioners left empty-handed by not reporting cruel fraudsters image
....” . Check that any company is regulated by City watchdog, the Financial Conduct Authority. ...
Tesco to pay £129m fine over accounting scandal image
Source : Guardian [Read Article] Tuesday 28th of March 2017 07:16:54 AM
Tesco fined £129m for overstating profits image
Source : BBC [Read Article] Tuesday 28th of March 2017 06:35:26 AM
....Tesco said there was "regret" over the issues of 2014 and said it has been working hard to "restore trust". The firm also agreed with the Financial Conduct Authority (FCA) to spend £85m on compensating investors. ...
Taking the easy option with car insurance renewal can be costly image
Source : Daily Express [Read Article] Sunday 26th of March 2017 12:01:00 AM
.... . City watchdog the Financial Conduct Authority (FCA) is introducing new regulations designed to nudge people into moving on. ...
High cost credit products must be tackled, say Lords image
Source : BBC [Read Article] Saturday 25th of March 2017 12:08:14 AM
....The report highlights how regulation has been successful in battling abusive practices by payday loan companies. The government asked regulators the Financial Conduct Authority to limit the interest rates they are able to charge. ...
Driver warning: Four out of 10 motorists losing hundreds of pounds with THIS mistake image
.... From April 1, insurers will be forced to include the price of the previous year's premium in renewal letters in a bid to shock drivers into switching provider. Providers will also have to remind customers they could get a better deal elsewhere under new rules from the Financial Conduct Authority (FCA). ...
Time to make a noise over Rias’s silent calls image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 07:00:28 AM
.... I know it was Rias as I checked the number. The Financial Conduct Authority said it has nothing to do with them and gave me Ofcom’s number. ...
Police to examine 'Global Laundromat' money laundering allegations image
Source : Guardian [Read Article] Tuesday 21st of March 2017 06:33:29 PM
....Fraud investigators have launched a review of the activities of Britain’s high street banks following revelations in the Guardian about a $20bn money laundering scam that MPs described as a national disgrace and scandal. Forced to answer urgent questions in the House of Commons, the Treasury minister Simon Kirby announced the Financial Conduct Authority (FCA) and the National Crime Agency (NCA) would be examining allegations that Britain’s banks processed vast amounts of tainted money from Russian criminals without noticing. ...
City minister in right and proper pickle over financial crime image
Source : Guardian [Read Article] Tuesday 21st of March 2017 04:53:03 PM
....Not really, shrugged Kirby. He was sure that the Financial Conduct Authority and the National Crime Agency were doing a fine job and if anyone was capable of sniffing out wrongdoing it was them. ...
British banks handled vast sums of laundered Russian money image
Source : Guardian [Read Article] Monday 20th of March 2017 06:00:24 PM
....However, the Guardian’s disclosures raise awkward questions for UK banks. The Financial Conduct Authority demands that banks “consider the money-laundering risk presented by customers, taking into account country risk; the customer’s reputation and the source of their wealth and funds”. ...
Rising food costs - what's that got to do with the price of Brexit? image
Source : Guardian [Read Article] Sunday 19th of March 2017 07:00:01 AM
....For starters, folk have finally started to notice what has always been financial spread betting’s dirty little secret – namely that only 20% of users actually make any money from products pitched as investments. This has become such a problem that even the Financial Conduct Authority has noticed and, in December, the regulator announced a clampdown to protect inexperienced retail customers, which knocked £1bn off the value of listed spread betting firms. ...
Over-55s urged to wise up on pension advice image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 10:43:00 PM
....”. Brown called on City watchdog the Financial Conduct Authority to do more to promote advice, by pointing out that it leads to better outcomes. ...
Charlotte Hogg image
Source : BBC [Read Article] Tuesday 14th of March 2017 01:51:01 PM
Lloyds Banking Group sets aside an extra £350m for PPI image
Source : BBC [Read Article] Friday 10th of March 2017 02:05:39 PM
....Lloyds Banking Group has set aside a further £350m to cover claims for mis-sold payment protection insurance (PPI). The bank is making the additional provision after the Financial Conduct Authority (FCA) set a deadline of August 2019 for making new PPI complaints. ...

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