UK outsourcing firm Capita has paid £18.5m (€22.07m, $24.2m) to settle a claim brought against it by the liquidator of the Connaught property fund fraud in which investors lost up to £100m.
The Treasury Committee is recommending that part of the UK’s Financial Conduct Authority (FCA) be spun out to form a new financial regulation enforcement body.
The UK Financial Conduct Authority says it has identified “serious and widespread” issues with how general insurance companies and brokers manage their networks of authorised representatives.
UK Financial Conduct Authority chief executive Andrew Bailey has admitted to the government’s Treasury Select Committee that proposals made by the Financial Advice Market Review may not solve the advice gap, which was in part created by the Retail Distribution Review.
Over half of UK savers are cashing in their savings following the introduction of pension freedoms last year, research from the UK’s Financial Conduct Authority (FCA) suggests.
Payouts to UK consumers, aggrieved by poor life and pensions advice, have more than doubled due to an increase in high risk Sipp investment claims, new figures from the Financial Services Compensation Scheme (FSCS) show.
UK chancellor George Osborne and the Financial Conduct Authority (FCA) intervened in a US investigation that could have seen Europe’s largest lender, HSBC, prosecuted for money laundering, a new report claims.
The Bank of England is looking to impose new measures in a bid to stem the flow of property fund suspensions in the wake of last month’s Brexit vote.
The Financial Conduct Authority (FCA) has reminded fund managers of their obligations to investors following the closure of a number of high profile property funds in the UK.
UK robo-advisers are ‘wired’ to lose money and most will go bust before acquiring the sizeable assets under management needed to survive, a scathing new report has warned.
Old Mutual Wealth is cutting exit fees to 1% from 5% for all customers aged 55 or over ahead of the UK regulator’s proposals to adopt a similar regime.
The introduction of a secondary annuity market in the UK should be delayed due to a lack of interest from advisers as well as the post-Brexit fallout, the Association of Professional Financial Advisers (Apfa) has told the UK’s Financial Conduct Authority (FCA).
