FCA doubles its remit in 2014
The Financial Conduct Authority is expecting a significant rise in the number of regulated firms next year as it takes over from the Office of Fair Trading as watchdog of the consumer credit market next year.
The Financial Conduct Authority is expecting a significant rise in the number of regulated firms next year as it takes over from the Office of Fair Trading as watchdog of the consumer credit market next year.
The financial services industry is often prone to fads where a boutique structure or an institutional-type investment vehicle is desired by the retail world.
Lloyds TSB and Bank of Scotland have been fined more than £28m by the Financial Conduct Authority, its largest-ever fine for retail conduct failings.
SEI Investments has been fined £900,200 by the Financial Conduct Authority for client money breaches.
The City regulator has spent more than £100,000 on social media, clocking up its bill by training staff on Twitter and Facebook as well as monitoring and analysing online platforms.
Wealth managers and other intermediaries are going to have to dig deep to pay an interim levy imposed by the Financial Services Compensation Scheme (FSCS) now the FCA has found yet another investment firm in default.
The FCA has outlined plans to speed up fund authorisations with measures to help the UK increase its competitiveness against offshore financial centres.
The Financial Conduct Authority (FCA) has launched a thematic review into asset management as the industry reaches a “crossroad”.
Data on regulated firms – and a recent investigation – has gone missing because FCA staff have been victims of crime, the regulator has revealed.
Banks’ incentives will face increasing scrutiny and reviews as the City regulator looks to reform mis-selling rules, it has been claimed.
Barclays Bank has topped the Financial Conduct Authority’s list of most complained about firms, with Lloyds, Bank of Scotland and Santander UK following closely behind.
Barclays’ Hector Sants has taken three months’ leave because of stress.