Topic filter : Financial Conduct Authority

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....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. ... [Read full article on BBC ]
Tuesday 28th of March 2017 06:35:26 AM
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....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. ... [Read full article on BBC ]
Saturday 25th of March 2017 12:08:14 AM
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. Tesco is to pay out £235m to settle investigations by the Serious Fraud Office and Financial Conduct Authority into the 2014 accounting scandal that rocked Britain’s biggest retailer. ... [Read full article on Guardian ]
Tuesday 28th of March 2017 07:16:54 AM
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. For Tesco, a £235m bill to settle investigations by the Serious Fraud Office and Financial Conduct Authority counts as a tidy piece of business. ... [Read full article on Guardian ]
Tuesday 28th of March 2017 05:48:11 PM
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....” . Check that any company is regulated by City watchdog, the Financial Conduct Authority. ... [Read full article on Daily Express ]
Wednesday 29th of March 2017 12:01:00 AM
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....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. ... [Read full article on Guardian ]
Thursday 30th of March 2017 09:13:12 AM
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.... . City watchdog the Financial Conduct Authority (FCA) is introducing new regulations designed to nudge people into moving on. ... [Read full article on Daily Express ]
Sunday 26th of March 2017 12:01:00 AM
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Latest Finance News related to Financial Conduct Authority

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. ...
Gina Miller urges FCA investigation into fund management 'price fixing' image
....1% less, investors would save £488m a year. “It is surely time for both the Financial Conduct Authority and the Competition and Markets Authority to investigate price fixing in UK retail actively managed investment funds,” Miller said. ...
Just one in five complaints about potential mis-sold PPI  made so far image
Source : Guardian [Read Article] Thursday 2nd of March 2017 05:36:47 PM
....The cut-off of 29 August 2019 provoked an outcry from consumer groups, but will be welcome news for UK banks, which have set aside more than £40bn to cover compensation payments and other costs relating to Britain’s biggest mis-selling scandal . The Financial Conduct Authority also revealed that it now estimates that 52m to 64m PPI policies were sold to around 30m consumers between 1990 and 2010. ...
PPI claims deadline is announced image
Source : BBC [Read Article] Thursday 2nd of March 2017 07:21:58 AM
....People seeking compensation over mis-sold payment protection insurance (PPI) will have to make their claims before 29 August 2019. The final deadline has been set by the Financial Conduct Authority (FCA) in an effort to draw a line under one of the banking industry's biggest scandals. ...
ITV shouldn't get away with blaming Brexit for falling revenues | Nils Pratley image
.... ITV is carrying little debt, can afford to carry on buying independent production houses and, whatever the advertising weather, doesn’t need a strategic rejig. What sheltered lives they’ve been leading at the Financial Conduct Authority (FCA). ...
Overdraft charges are elephant in the room, say MPs image
Source : BBC [Read Article] Wednesday 1st of March 2017 02:41:57 PM
.... . However, the Financial Conduct Authority has now announced that it will examine the issue in detail itself. ...
Scam warning: How investment fraudsters are adopting THESE tactics to target over-55s image
....Older savers are the prime target for fraudsters because they have more money to invest, often after using new pension freedoms to cash in their pots. City watchdog the Financial Conduct Authority (FCA) is urging the over-55s to check out investment opportunities they are offered. ...
Con-artists use flattery to net investment scam victims image
Source : BBC [Read Article] Wednesday 1st of March 2017 12:13:51 AM
....The City regulator is warning people aged over 55 to be cautious over unsolicited callers putting on pressure to sign up to a "special deal". Scammers often praised victims for being "knowledgeable investors", the Financial Conduct Authority (FCA) said. ...
Payday loans complaints rise 22% despite FCA clampdown image
Source : Guardian [Read Article] Tuesday 28th of February 2017 06:01:20 AM
....The ombudsman also revealed that those complaining about payday lenders included teachers, nurses, students and “even a handful of vets”, showing that this was an issue that affected people from “all walks of life”. The increase follows a regulatory clampdown on the multibillion-pound sector, which the Financial Conduct Authority (FCA) began policing in April 2014. ...
PPI still dominates financial ombudsman's in-tray image
Source : BBC [Read Article] Tuesday 28th of February 2017 12:14:54 AM
...." . A deadline of June 2019 could be set by the Financial Conduct Authority (FCA) for disgruntled customers to make compensation claims to their banks and credit card issuers about mis-sold PPI policies. ...
City watchdog sounds alarm bells over hard Brexit image
Source : Guardian [Read Article] Monday 27th of February 2017 03:06:00 PM
....A hard Brexit poses risks to the integrity of financial markets and could make it harder to protect consumers from wrongdoing by banks, the head of the City regulator has warned MPs. Andrew Bailey, chief executive of the Financial Conduct Authority, said a cliff-edge Brexit – one in which the regulatory framework changes the instant the UK leaves the EU – also presented competition risks, alongside threats to legal and market stability. ...
Were YOU mis-sold your pension? Prudential and Standard Life review annuity sales image
Source : Daily Express [Read Article] Saturday 25th of February 2017 01:13:00 PM
....Standard Life announced it has put aside £175million for compensation and is working with the financial regulator to provide redress. At the same time, Prudential has agreed with the Financial Conduct Authority to look over sales made since 2008 - experts said the firm could end up paying far more out than Standard Life, due to the size of its customer base. ...
Pensioners sold wrong annuities to get thousands in redress image
Source : BBC [Read Article] Friday 24th of February 2017 04:02:11 PM
....Analysts have said that Prudential is likely to have to pay at least £200m. It follows an investigation from the Financial Conduct Authority (FCA), which concluded that between 39 and 48% of those sold annuities by both companies were provided with "insufficient information". ...
Avoid sky-high costs and charges to get the most out of your investments image
Source : Daily Express [Read Article] Wednesday 22nd of February 2017 12:01:00 AM
....While the best managers such as Terry Smith at Fundsmith Equity can thrash the market, three quarters routinely underperform, yet charge a high price for failure, through fund management charges. The Financial Conduct Authority has warned that actively managed funds fail to outperform benchmarks after costs. ...
Business rates: this toxic row will return unless we find a fairer alternative | Nils Pratley image
.... The biggest regulatory bust-ups may have passed but, as ever, there’s something new to worry about at HSBC. The latest entry in the bulging “regulatory matters” file is an investigation by the Financial Conduct Authority into potential breaches of money-laundering rules. ...
City watchdog investigating HSBC over potential financial crime, bank reveals image
....2bn fine imposed on HSBC in 2012 by the US for poor anti-money laundering controls and is overseeing attempts to improve its defences against financial crime. The Financial Conduct Authority did not comment but the bank said it was “the subject of an investigation by the FCA into its compliance with UK money laundering regulations and financial crime systems and controls requirements”. ...
Co-op Bank faces struggle to find owner with ethics – and deep pockets image
Source : Guardian [Read Article] Saturday 18th of February 2017 04:00:05 PM
....“Putting them in the documents, they are clearer than they’ve ever been,” said Coleman. The business secretary Greg Clark and the Financial Conduct Authority can ban any buyer from using the Co-op name if it is regarded as misleading to the public. ...
A new Isa is offering tax-free returns of 12% – so what’s the catch? image
Source : Guardian [Read Article] Saturday 18th of February 2017 07:00:33 AM
.... From this April, the total amount you can save each year into all Isas will increase to £20,000. Companies must jump two hurdles: they require full authorisation from the Financial Conduct Authority, plus the approval of HM Revenue & Customs, to act as an Isa manager. ...
One in four UK retirees burdened by unpaid mortgage or other debts image
Source : Guardian [Read Article] Friday 17th of February 2017 06:49:49 AM
....The Prudential insurance company found the proportion of people who expected to retire in debt this year to be at its highest level for seven years, and that the level had risen to 44% in London. The research follows a study by the Financial Conduct Authority which found that 2017-18 would be the first of three “peak periods” when large numbers of interest-only mortgages would mature. ...
For sale: Co-op Bank looks for buyers image
Source : Guardian [Read Article] Monday 13th of February 2017 08:05:49 AM
Fraud case and falling share price take shine off Lloyds’s farewell to taxpayer image
....While this is the only HBOS operation where fraud has been prosecuted, the lurid stories the jury heard about sex parties and cash in brown envelopes embellished its image as a bank whose ambitions had got out control. A 2013 parliamentary report described HBOS as an “accident waiting to happen”; in 2012, the now defunct Financial Services Authority lambasted subsidiary Bank of Scotland’s aggressive, high-risk growth strategy, and another report, published in 2015 by the Bank of England and the Financial Conduct Authority, said the bank’s business model “placed inappropriate reliance on continuous growth without due regard to the risks involved”. ...
Pay-as-you-go car insurance – perfect for the low-mileage driver? image
Source : Guardian [Read Article] Saturday 11th of February 2017 07:00:09 AM
.... There are no maximum age limits at this stage. While Cuvva is registered with the Financial Conduct Authority and has an underwriter in place, Just Miles is still going through those processes. ...
Banks charging up to £180 fees on £100 borrowing, Which? finds image
Source : Daily Express [Read Article] Wednesday 8th of February 2017 09:22:00 AM
....Payday loan charges were capped in 2015, as part of moves to prevent people getting trapped in a debt spiral. The Financial Conduct Authority (FCA) recently announced plans to put the high-cost credit sector under the spotlight, including overdrafts as well as payday lenders, pawnbrokers and firms offering rent-to-own credit on household goods. ...
Brexit will cost UK 30,000 finance jobs, says Brussels thinktank image
Source : Guardian [Read Article] Tuesday 7th of February 2017 11:01:00 PM
....The analysis is based on the assumption the UK will leave the single market, as set out in Theresa May’s Brexit speech last month. “Brexit involves risks for market integrity and stability, because the EU including the UK has been crucially dependent on the Bank of England and the UK Financial Conduct Authority for oversight of its wholesale markets,” states the report. ...
Lloyds must compensate the victims of the £245m HBOS scam – fast | Nils Pratley image
.... Last week’s response was too airy. It promised to “review any new concerns on a case-by-case basis taking into account any relevant new information from the trial” but it didn’t commit to two essential ingredients of a solid compensation scheme – oversight by an independent third party and the involvement of the regulator, the Financial Conduct Authority. ...
Lloyds apologises for 'distress' caused by £245m HBOS loan scam image
Source : Guardian [Read Article] Tuesday 7th of February 2017 12:45:49 PM
.... It said after the convictions that it would consider reviews for compensation on the basis of any new information from the trial. It will now appoint an independent organisation to review whether it should pay compensation, in consultation with City regulator the Financial Conduct Authority. ...
Alarm bells ring over raids on pension pots image
Source : Daily Express [Read Article] Wednesday 1st of February 2017 12:01:00 AM
.... . To protect yourself, avoid being pressured into making a quick decision, shun anything that sounds too good to be true and only deal with advisers regulated by the Financial Conduct Authority, Kline added. ...
Deutsche Bank's $630m Russian fine reflects badly on banking | Nils Pratley image
.... The bank has been fined $630m (£506m) for “unacceptable” deficiencies in its anti-money laundering controls but the details of the affair are extraordinary. Some $10bn was transferred out of Russia through Deutsche “in a manner highly suggestive of financial crime”, says the Financial Conduct Authority. ...
Deutsche Bank fined $630m over Russia money laundering claims image
Source : Guardian [Read Article] Tuesday 31st of January 2017 05:00:06 AM
....Deutsche Bank has been fined more than $630m (£506m) for failing to prevent $10bn of Russian money laundering and exposing the UK financial system to the risk of financial crime. The UK’s Financial Conduct Authority imposed its largest ever fine – £163m – for potential money laundering offences on Germany’s biggest bank, which it said had missed several opportunities to clamp down on the activities of its Russian operations as a result of weak systems to detect financial crime between 2012 and 2015. ...
Has Vodafone finally got the right Idea in India? image
Source : Guardian [Read Article] Monday 30th of January 2017 07:07:50 PM
.... But, once the CMA gets stuck in, complication is the way to bet. Tracey McDermott, formerly the enforcement chief and then acting head of the Financial Conduct Authority, is to join Standard Chartered, one of the banks she used to help regulate. ...
Don’t throw your money on home emergency and key cover insurance – Patrick Collinson image
.... Except that official figures released this week reveal just how many millions of people are overpaying for these policies. The Financial Conduct Authority has for the first time published figures that detail, company by company, the frequency that claims are made, and how much is paid out. ...
Is equity release a good way to pay off your home loan? image
Source : Guardian [Read Article] Saturday 28th of January 2017 07:00:48 AM
.... This has in turn prompted claims that the equity release market stands to benefit hugely. The Financial Conduct Authority has previously warned that many of those with maturing interest-only mortgages may not have enough money to pay what they owe. ...
Lloyds bank accounts targeted in huge cybercrime attack image
Source : Guardian [Read Article] Monday 23rd of January 2017 12:20:26 PM
....The money will help boost the National Cyber Security Centre, the new division of the surveillance agency GCHQ created last month. Andrew Tyrie, MP, chair of the Treasury select committee, said that responsibility for reducing cyber threats is shared too widely among a number of bodies, including the Prudential Regulatory Authority, the Financial Conduct Authority and GCHQ, and needs to be simplified. ...
‘Barclays took my £440,000 and put me through hell’ image
Source : Guardian [Read Article] Sunday 22nd of January 2017 07:00:23 AM
.... It follows that because countries deemed high risk in terms of terror and money laundering tend to be Asian and African, people from these areas may be particularly vulnerable. The Financial Conduct Authority has warned of potential discrimination as banks run scared of the rules. ...
Whistleblower wins 13-year campaign against HSBC image
Source : Guardian [Read Article] Friday 20th of January 2017 01:17:13 PM
....A lone whistleblower has won a 13-year “David and Goliath battle” against HSBC and Britain’s chief financial watchdog, resulting in a multimillion-pound compensation payout to thousands of people. The Financial Conduct Authority (FCA) said HSBC had voluntarily agreed to set up a £4m compensation scheme for people who had lost out financially as a result of having to pay “unreasonable” debt collection charges imposed by two subsidiaries of the bank. ...
Lower-paid 'must get help to save' image
Source : BBC [Read Article] Thursday 12th of January 2017 01:23:07 PM
.... . Meanwhile, the Financial Conduct Authority (FCA), the City regulator, has found that, for two years running, some savers are getting an annual return of as little as 0. ...
'It's a financial cliff edge': how Britain fell back in love with credit cards image
.... Last year, the UK’s financial watchdog attacked credit card providers for squeezing profits out of consumers who were stuck in the trap of making monthly minimum repayments for years rather than actually paying off their debts. The Financial Conduct Authority report found that one in nine card holders had balances that would take them more than a decade to repay, with 1. ...
Money Shop owner receives bid approach image
Source : BBC [Read Article] Thursday 5th of January 2017 03:00:07 PM
....A clampdown on payday lending in the UK has led to lower profits, with the firm admitting to tougher trading conditions. Loan charges were capped by the Financial Conduct Authority (FCA) in January 2015. ...
Payday loans are capped. Now let’s tackle other high-cost credit | Gillian Guy image
.... The majority of lenders still do not ask for proof of income and expenditure. But the initial success of the Financial Conduct Authority’s intervention should not be understated. ...
Lost billions image
Source : BBC [Read Article] Sunday 1st of January 2017 04:13:54 AM
....Nearly £2bn in redress was paid to consumers of financial services in the first half of the year. While the industry watchdog, the Financial Conduct Authority, holds data on the success of compensation schemes in reaching those entitled to payouts, it does not publish all of it. ...
Brexit, strikes and pay revolts: the year in business image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:00:27 AM
....The pound plunged after the vote to leave the EU and is down 15% against the dollar, a fall not helped by October’s “flash crash” when the currency dived to new 31-year lows. Andrew Bailey’s year started with his unexpected appointment as chief executive of the Financial Conduct Authority. ...
'Buy now, pay later' debts hitting young image
Source : BBC [Read Article] Wednesday 21st of December 2016 12:06:44 AM
...." . The Financial Conduct Authority (FCA) is conducting a review into high-cost, short-term credit, including catalogue debt. ...
GCHQ asked to step up action against cyber-attack threat to financial services image
.... The Bank of England has also listed the threat of cyber-attacks as one of the major risks facing the financial services industry. In his letter Tyrie, a Conservative MP, outlines the responsibility for cyber-threats as being shared between the Bank’s Prudential Regulation Authority (PRA), the Financial Conduct Authority and GCHQ. ...
Bank scam victims left high and dry by regulator, says Which? image
Source : Guardian [Read Article] Friday 16th of December 2016 09:38:56 AM
....“There is no silver bullet, but more can be done to prevent these scams in the first instance, and to respond faster when it does happen, in order to give consumers more support and help in recovering their money,” said Nixon. The Financial Conduct Authority, which also looks after the interests of consumers, said it would work with firms to tackle concerns about the banks sending the payments and the banks which receive them. ...
Eurozone ministers won't budge an inch on Greek finance measures image
Source : Guardian [Read Article] Wednesday 14th of December 2016 08:12:30 PM
.... On the trading front and in its relations with tenants, Punch has been showing definite signs of rehabilitation. Financial spreadbetting firms hate the Financial Conduct Authority’s plan to make the industry a safer place for punters by clamping down on the leverage ratios that can be used on products such as contracts for difference. ...
FCA considers £1m compensation limit to increase protection for pensioners image
Source : Guardian [Read Article] Wednesday 14th of December 2016 01:29:36 PM
....The maximum compensation someone can receive if an investment company goes bust could be increased from its current £50,000 to as much as £1m, the UK’s main financial watchdog has suggested. The Financial Conduct Authority (FCA) said a rethink of the official compensation scheme relating to financial firms may be needed following the new freedoms on pensions introduced in 2015. ...
New crowdfunding platforms following peer-to-peer lending are riskier than many realise image
....The new breed of crowdfunding platforms that have followed in the wake of P2P are far riskier than many realise. City regulator the Financial Conduct Authority (FCA) is looking to crack down on these crowdfunding platforms to protect savers who do not understand the dangers. ...
Lloyds Banking Group fails to meet 'fee-free' basic account guidelines image
Source : Guardian [Read Article] Monday 12th of December 2016 07:32:21 PM
....”. He added: “The only way Lloyds will resolve this is if they are forced to act, and that’s why I am calling on the Treasury and the Financial Conduct Authority to fine them a percentage of their profits until this is resolved. ...
FCA to review 'close relationships' in mortgage market image
Source : Guardian [Read Article] Monday 12th of December 2016 03:30:50 PM
....Britain’s financial watchdog has launched a review of the mortgage market that will probe the “inducements” routinely paid to brokers and other industry players, to see whether consumers are losing out as a result. The Financial Conduct Authority (FCA) market study will look at whether competition in the mortgage sector can be improved, and whether commercial tie-ups between the sector’s different players “lead to conflicts of interest or misaligned incentives to the detriment of consumers”. ...
Banks could face more PPI payouts as FCA delays deadline decision image
Source : Guardian [Read Article] Friday 9th of December 2016 10:44:26 AM
....Banks might have to pay out more in compensation to victims of the £40bn payment protection insurance scandal after the financial regulator delayed a decision on setting a deadline for complaints. The Financial Conduct Authority said in August it was considering a mid-2019 cutoff for PPI claims and would decide before the end of 2016. ...
City regulator to crack down on crowdfunding image
Source : Guardian [Read Article] Friday 9th of December 2016 08:53:42 AM
....The City regulator has announced a crackdown on crowdfunding – the fast-growing sector that lets businesses and individuals raise money from online investors. The Financial Conduct Authority said it had concerns about loan-based businesses – also known as peer-to-peer (P2P) lenders – and investment-based platforms. ...
Tougher crowdfunding rules proposed by FCA image
Source : BBC [Read Article] Friday 9th of December 2016 08:28:05 AM
. Tougher rules are needed to protect investors in crowdfunding platforms, the Financial Conduct Authority (FCA) has said. ...
Old People WARNED that nest eggs are main target for SCAMMERS image
Source : Daily Express [Read Article] Wednesday 7th of December 2016 12:01:00 AM
.... . One in five over-55s has been targeted by investment fraudsters in the past three years, which rises to an alarming one in three among the over-75s, according to new research by the Financial Conduct Authority (FCA). ...
Andrew Tyrie questions RBS over compensation for small businesses image
Source : Guardian [Read Article] Tuesday 6th of December 2016 06:27:00 PM
....In a letter to the RBS chief executive, Ross McEwan, Tyrie said campaigners had asked for the bank to pay out £2bn in compensation. Tyrie wrote to McEwan – and Andrew Bailey, chief executive of the Financial Conduct Authority – after last month’s move by RBS to apologise to small business customers and pledge to issue them with refunds of fees and allow them to make fresh complaints about their treatment between 2008 and 2013. ...
What is financial spread betting and why do most people lose at it? image
Source : Guardian [Read Article] Tuesday 6th of December 2016 04:01:53 PM
. The Financial Conduct Authority has studied a sample of spread-betting customers and found that 82% lost money on products offered by the industry called contracts for difference (CFDs). ...
The idiot's guide to spread betting image
Source : BBC [Read Article] Tuesday 6th of December 2016 01:45:40 PM
....Spread betting on financial markets by the general public will be more tightly regulated by the financial watchdog. The Financial Conduct Authority (FCA) wants to put limits on how much individuals can risk when they open accounts with spread betting firms. ...
Spread-betting industry loses £1bn after City watchdog steps in image
Source : Guardian [Read Article] Tuesday 6th of December 2016 09:31:02 AM
....More than £1bn has been wiped off the stock market value of the spread-betting industry after the City regulator announced a clampdown to protect inexperienced retail customers from unexpected losses on complex trades. The Financial Conduct Authority said it was concerned about people opening online accounts with spread-betting providers without understanding the products they were trading. ...
FTSE 100 rises but spread betting firms dive on FCA plans image
Source : BBC [Read Article] Tuesday 6th of December 2016 09:30:59 AM
. Shares in financial spread betting firms have plunged by a third after the Financial Conduct Authority (FCA) proposed stricter rules for the sector. ...
Crackdown on financial spread betting proposed by FCA image
Source : BBC [Read Article] Tuesday 6th of December 2016 09:29:54 AM
....New rules to help protect investors using financial spread betting - in which 82% have lost money - have been proposed by the financial watchdog. The Financial Conduct Authority wants to tackle the "contract for difference" (CFD) market, which includes financial spread betting. ...

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