Tag: FCA

January 8, 2024

On 28 November 2023, the UK’s Financial Conduct Authority (FCA) unveiled its Policy Statement PS 23/16 (Policy Statement), which sets out the final rules for sustainability disclosure and investment labels (SDR Rules). The market has been anticipating this development since […]

December 8, 2023

In accordance with the new powers granted to the FCA by the Financial Services and Markets Act 2023, the regulator says that designated banks and building societies will need to assess the gaps in access to cash, taking local factors […]

November 16, 2023

The bank says that it “received confirmation of its position on the FCA’s watchlist for financial crime compliance” on 6 June, and that the action related to the “ongoing management of financial crime risk” within its back book and online […]

September 28, 2023

The equity investment comes from IAG Silverstripe, who exclusively led its $30 million Series A round in September 2022, as well as from the lender’s existing backers. With the new funds, the newly-licenced bank aims to launch Perenna Mortgage, its […]

July 13, 2023

This was the primary narrative of a speech given by Nikhil Rathi, the regulator’s chief executive, at the Economist Impact event in London this week. Rathi’s speech centred around the growing impact of AI within the financial services industry, including […]

December 9, 2022

The regulator says between 31 December 2012 and 18 October 2017, Santander failed to adequately manage its AML systems, affecting more than 560,000 business accounts. Santander has not disputed the FCA’s findings and agreed to settle, which means it has […]

July 5, 2022

This new guidance will include assessing the impact of shorter branch opening times, planned branch closures, removal or conversion of ATMs or reduction in the services they provide. The FCA has warned that “some banks and building societies are not […]

December 21, 2021

The FCA claims HSBC’s transaction monitoring systems showed “serious weaknesses” over a period of eight years from March 2010 to March 2018. The regulator says HSBC did not dispute its findings and agreed to settle “at the earliest possible opportunity”. […]

November 4, 2021

The Farm Credit Administration (FCA) last month issued a final rule governing the standards of conduct (SOC) of directors and employees of Farm Credit System institutions (System Institution). The rule excludes the Federal Agricultural Mortgage Corporation (Farmer Mac). The final […]

December 24, 2020

The reviews, undertaken by Dame Elizabeth Gloster and Raj Parker respectively, assessed the FCA’s actions, policies and approach when regulating LCF between April 2014 and January 2019. The FCA has accepted the nine recommendations addressed solely to the FCA in […]

October 23, 2020

The FCA and PRA fines are part of a globally coordinated resolution reached with Goldman Sachs Group (GSG) and its subsidiaries. GSI is an indirect wholly owned subsidiary of the GSG. GSI acts as a material booking entity for bond […]

March 13, 2020

In a warning published on its website, the regulator says criminals and scammers are trying to take advantage of confusion and market instability in the wake of the virus’ spread across the globe. “Watch out for scams related to coronavirus […]

January 20, 2020

Cashaa’s mission is to help crypto businesses get access to banking who have always struggled with traditional banks. Finally, in 2019, it started its operations in partnership with an FCA regulated entity intending to become the go-to banking services provider […]

January 10, 2020

After 12 months of offering multiple introductory rates, banks will then have to decide on one single easy access rate (SEAR) for their easy access cash savings accounts, and one for their easy access cash savings ISAs. The regulator says […]

December 5, 2019

A transition away from Libor – which has been tarnished by rigging scandals – remains one of the largest challenges facing the industry. The Financial Stability Board’s (FSB) Official Sector Steering Group (OSSG) coordinates international efforts on benchmark reform and […]

October 7, 2019

The FCA consulted the industry on measures to protect investors, who may seek to buy crypto-based futures, options, and contracts for difference and exchange-traded notes. In its response, the WFE emphasised its desire to help find the right balance between […]

July 5, 2019

The Financial Conduct Authority (FCA) has focused on derivatives linked to crypto-assets, citing their extreme volatility, difficulty in valuation and the limited understanding of these products among retail consumers. The regulator’s fear is that retail investors may “suffer harm from […]

February 19, 2018

The Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commission (CFTC) have today signed an arrangement that commits the regulators to collaborating and supporting innovative firms through each other’s financial technology (FinTech) initiatives – LabCFTC and FCA Innovate. […]