Tag: Financial Conduct Authority

December 20, 2022

The FCA states that following the update, while the data for the bank’s corporate and customer services was migrated successfully to the new IT platform, the platform “immediately experienced technical failures” leading to “significant disruption” in TSB’s banking services, 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 […]

April 19, 2022

Robinhood is making a second play to expand into the U.K. Nearly two years after the stock-trading app indefinitely postponed its launch in the country, the company announced Tuesday it would acquire Ziglu, a U.K.-based crypto and payments company. Terms […]

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”. […]

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 […]

March 5, 2020

The Bank of Japan (BoJ), European Central Bank (ECB), UK’s Financial Conduct Authority (FCA) and the US Federal Reserve have all announced a range of measures that target the economic and operational risks the virus poses. “The coronavirus outbreak is […]

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 […]

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 […]

May 23, 2019

Tempted by professional-looking social media adverts and websites, investors have been signing up to ‘get rich quick’ online trading platforms – only to find they have been scammed. In the last financial year, reports of crypto and forex investment scams […]

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. […]

April 27, 2017

Lloyds Banking Group (LYG)  shares rose to the highest level of the year Thursday after the former state-rescued lender reported a better-than-expected doubling in first quarter pre-tax profit. Lloyds saw profit increase 99% from the from £654 million posted a […]