22 November 2014

Latest articles for Financial Conduct Authority (FCA)

 

RBS and Ulster Bank hit with £56 million fine over IT meltdown

20 November 2014  |  3613 views  |  0 News

The Royal Bank of Scotland and its subsidiary Ulster Bank have been hit with a £56 million fine by regulatory authorities over a computer malfunction in 2012 that locked customers out of accounts and knocked out payments processing systems.

 

FCA review finds small banks and insurance intermediaries fail to manage financial crime risk

14 November 2014  |  1450 views  |  0 Company announcement

The Financial Conduct Authority (FCA) has found that many small banks and commercial insurance intermediaries fail to effectively manage financial crime risk. The two reviews published today follow related work by the FCA's predecessor on banks in 2011 and intermediaries in 2010.

 

FCA fines five banks £1.1 billion for FX failings and announces industry-wide remediation programme

12 November 2014  |  1125 views  |  0 Company announcement

The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ($343 million), JPMorgan Chase Bank N.A. £222,166,000 ($352 million), The Royal Bank of Scotland Plc £217,000,000 ($344 million) and UBS AG £233,814,000 ($371 million) (‘the Banks’).

 

FCA confirms price cap rules for payday lenders

11 November 2014  |  795 views  |  0 Company announcement

People using payday lenders and other providers of high-cost short-term credit will see the cost of borrowing fall and will never have to pay back more than double what they originally borrowed, the Financial Conduct Authority (FCA) confirmed today.

 

UK watchdog to investigate blockchain potential

29 October 2014  |  4639 views  |  3 News

The Financial Conduct Authority is to investigate ways in which the technology underpinning bitcoin can be used elsewhere in the formal financial services industry.

 

FCA opens Innovation Hub

28 October 2014  |  1483 views  |  0 Company announcement

The Financial Conduct Authority’s (FCA) Innovation Hub, part of Project Innovate, is now open and offering support to innovators.

 

FCA examines move to full bank account portability

01 October 2014  |  4503 views  |  3 News

The UK's Financial Conduct Authority will explore the introduction of full bank account portability as part of a review into the country's existing current account switching service.

 

Nationwide selects AxiomSL for COREP reporting and XBRL submissions

10 September 2014  |  1171 views  |  0 Company announcement

AxiomSL, a global provider of regulatory reporting and risk management solutions, was selected by Nationwide Building Society to deliver Bank of England (BOE), Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) reporting requirements.

 

Deutsche Bank fined £4.7 million for transaction reporting failures

28 August 2014  |  1504 views  |  0 Company announcement

Deutsche Bank AG London Branch (Deutsche) has been fined £ 4,718,800 by the Financial Conduct Authority (FCA) for incorrectly reporting transactions between November 2007 and April 2013.

 

FCA to consult on social media rules

06 August 2014  |  1051 views  |  0 Company announcement

The Financial Conduct Authority (FCA) has today launched a consultation which is intended to clarify its approach to the supervision of financial promotions in social media.

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