28 April 2015

Latest articles for Financial Conduct Authority (FCA)

 

Merrill slapped with record fine for repeated transaction reporting failures

22 April 2015  |  2450 views  |  0 News

The Financial Conduct Authority has fined Merrill Lynch a record £13.3 million for repeated breaches of transaction reporting rules.

 

BNY Mellon fined £126 million for FCA over Cass compliance failings

15 April 2015  |  1149 views  |  0 Company announcement

BNY Mellon (NYSE: BK) today issued the following statement regarding the findings of a U.K. Financial Conduct Authority ("FCA") investigation into compliance with relevant FCA Principles and U.K. Client Asset Sourcebook ("CASS") rules during the period from November 2007 to August 2013:

 

FCA fines Clydesdale £20 million for PPI complaints mishandling

14 April 2015  |  1256 views  |  0 Company announcement

The Financial Conduct Authority (FCA) has today fined Clydesdale Bank Plc (Clydesdale) £20,678,300 for serious failings in its Payment Protection Insurance (PPI) complaint handling processes between May 2011 and July 2013.

 

FCA publishes 2015/16 business plan; launches supervisory and authorisations division

24 March 2015  |  1235 views  |  0 Company announcement

The Financial Conduct Authority has set out the key areas of work it will undertake in the forthcoming financial year with the publication of its Business Plan for 2015/16.

 

Instinet applies for FCA registration as a payment institution

16 March 2015  |  1251 views  |  0 Company announcement

Driven by customer demand, Instinet Europe Limited (Instinet) today announced its application as a Payment Institution with the Financial Conduct Authority (FCA).

 

FCA sets out social media promotion guidance

13 March 2015  |  2194 views  |  0 Company announcement

The Financial Conduct Authority (FCA) has today published its guidance on financial promotions in social media. This follows detailed engagement and consultation with the industry.

 

Lack of awareness and confidence hampering UK account switching service

12 March 2015  |  3191 views  |  6 News

The UK's current account switching service (Cass) has failed to produce a significant increase in the number of people moving banks, according to the Financial Conduct Authority (FCA), which says that a move to full account number portability could prove a more effective approach.

 

P2P lender RateSetter hires former FSA man Simon Pearse as head of compliance

10 March 2015  |  1079 views  |  0 Company announcement

The UK’s leading peer-to-peer (P2P) lender RateSetter has hired Simon Pearse to join the Company in a new role as Head of Compliance.

 

Online payday lenders must publish details on a price comparison website - CMA report

24 February 2015  |  1566 views  |  0 Company announcement

The CMA has published its final report on the payday lending market, including its decisions on measures to increase price competition between payday lenders and to help borrowers get a better deal.

 

Post-trade controls in asset management firms insufficient to detect market abuse - FCA

19 February 2015  |  1721 views  |  0 Company announcement

Market abuse damages market integrity and undermines confidence in financial markets. At a firm level, association with market abuse causes reputational damage and can lead to substantial financial loss. Our regime requires firms to have effective processes to identify, monitor and manage the risk of market abuse.

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