FCA says banks paid 11bn for swap miss selling
Banks nabbed selling miss-selling interest rate hedging products have forked out £1.1bn in compensation, the FCA said.
FCA
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fca issues far-reaching client money changes
The UK’s Financial Conduct Authority has signalled a sharper regulatory focus on holding client money with the publication of its policy statement today, and the prospect of other jurisdictions following suit.
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ABI branded unfair for doubting
A senior figure at Fidelity Worldwide Investment has criticised the Association of British Insurers (ABI) for its unfair claim that providers are not a suitable choice to deliver the guidance guarantee announced in this years Budget.
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Firms face 460m annual bill for regulation
Advisory firms based in the UK are spending an estimated £460m each year on the direct and indirect cost of regulation, according to a recent study.
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Coutts reviews client advice
Coutts has written to clients to inform it is conducting a review into the suitability of its historic investment advice, a response to the regulators Dear CEO letters sent in 2011.
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APFA criticises FCA over its scrapping of fee
The Association of Professional Financial Advisers (APFA) has said it is disappointed in the FCAs decision to scrap a review of the methods it uses to calculate regulatory fees.
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FCA in circles over simplified advice
FCA chief Martin Wheatley has stressed the need to “square the circle of selling complex products to so-called unsophisticated investors”, but are we really any clearer on the shape of things to come?
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FCA welcomes in new financial review body
The Financial Conduct Authority (FCA) has welcomed in a new independent body aimed at restoring the damaged reputation of the financial services industry.
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Barclays fined 26m for gold fixing failings
Barclays Bank’s reputation has taken another heavy blow this morning after the Financial Conduct Authority handed it a £26m fine for failing to manage conflicts of interest in relation to gold trading.
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Financial adviser gets four years behind bars
A financial adviser who stole £130,000 in savings from vulnerable pensioners and widows has been jailed for three years.
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Towergate could face fine over FCA investigation
Towergate could be fined by the Financial Conduct Authority (FCA) over the potential mis-selling of two of its products, following discussions with the regulatory body.
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Ex-UBS trader banned by FCA over trading losses
The FCA has banned an ex-UBS trader from performing any function in relation to any regulated activity for his hand in unauthorised activity related to $2.3bn in trading losses by another trader.