Credit Suisse and Yorkshire Building Society fined
Credit Suisse International (CSI) and Yorkshire Building Society have been fined £3.8m by the Financial Conduct Authority for misleading investors in a widely sold structured product.
FCA
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fca says banks paid 1pt1bn for swap missselling
Banks nabbed selling miss-selling interest rate hedging products have forked out £1.1bn in compensation, the FCA said.
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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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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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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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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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PA ANALYSIS One cost to rule them all
The FCA's review of the clarity of fund charges shows that there remains a long way to go to a single number that investors can use to compare one fund with another.
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FCA calls for fund charge consistency
The FCA today urged fund managers to focus on the ongoing charges rather than annual management charges in a bid to improve transparency.
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FCA finalises dealing commission rules
Under new rules announced by the FCA, investment managers will only be able to pay for substantive research with dealing commissions.
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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.
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pa analysis nobody spotted Invesco failings
The unanswered question coming out of the FCA fining Invesco Perpetual £19m yesterday is: why did nobody else spot this?