FCA shuts down half its money-laundering investigations in 2020
It stopped seven of the 14 investigations into money laundering since January.
FCA
FCA accused of rushing consultation to minimise own failings
The complaints commissioner criticises the timing and lack of promotion.
EBA looks into adoption of regtech across EU
The banking questionnaire covers initiatives that could support the uptake of regtech solutions.
FCA posts concerns over repeat lending by credit firms
UK watchdog highlights issue with letting users borrow again and again.
Applications for FCA’s sixth regulatory sandbox drop more than 30%
Last year, the sandbox recieved a record 99 applications.
FCA confirms post-Brexit cooperation deals with EU regulators
UK watchdog says agreements remain “relevant and appropriate”.
FCA lifts restrictions on Wirecard Card Solutions
UK watchdog allows payments to restart.
FCA prepares shift to new data collection platform RegData
This is in response to industry feedback about the Gabriel system over the past three years.
FCA permanently bans marketing of mini bonds
The FCA will extend it to other speculative investments that are hard to trade.
Commerzbank fined £37.8m by FCA for AML failings
The London branch of the bank dragged up for issues between 2012 and 2017.
FCA extends SCA deadline for merchants by six months
The new timeline is 14 September 2021.
Certified liveness detection a must for FCA recommended customer selfies
How to comply with the legislation and ensure that appropriate safeguards and additional checks are in place.
FCA plans financial relief for customers amid COVID-19 pandemic
UK regulator wants a freeze on loan and credit card debt.
Coronavirus: FCA announcements round-up
We collated a round-up of these notices to assist our readers on COVID-19 updates.
FCA requests listed companies delay publishing preliminary financials
It highlights that this statement does not apply to AIM-listed companies.
FCA sets out guidance for mortgage providers & lenders on COVID-19-related loan scheme
This supports the announcements made by the Chancellor last week.
FCA issues coronavirus cryptocurrency scam warning
UK watchdog tells investors to be wary of deals too good to be true.
FCA plans market changes to simplify mortgage switching
UK watchdog concerned that non-switching consumers are left out of pocket.
FCA to review data and analytics in wholesale financial markets
UK watchdog calls for input on market use of advanced analytics.
Financial regulators address the economic & operational effects of COVID-19
Regulators across the globe issue statements addressing coronavirus precautionary measures.
FCA warns Deutsche over repeated compliance failings
The bank’s tardiness in notifying affected clients and regulators led to concerns.
FCA data leak branded “embarrassment”, former CEO called for review
Regulator’s former CEO Andrew Bailey called out for “tsunami of failure”.
FCA: Innovative fintech entrants putting some customers at risk
UK watchdog warns of customer risk exposure from flashy fintech firms.
More change at the top for the Financial Conduct Authority
Two non-executive directors join the FCA board.
FCA calls UK’s current overdraft market “dysfunctional”
The regulator is asking banks to explain their 39.99% rates.
FCA admits it does not track frequency of funds that block investor withdrawals
The UK financial watchdog has been severely criticised for its lack of oversight of several funds.
UK regulators fire Libor warning shots as deadlines loom
The FCA and Bank of England tell industry the time to act is now.
FCA stirs up competition for banks’ easy access saver accounts
FCA: Competition is not working well for 40 million British customers.
Bank of England and FCA plot internal data analytics shake-up
UK regulators outline plans to improve their data handling capabilities.
FCA launches call for input on open finance future
UK regulator wants industry input on next steps.
UK firms struggling to meet Mifid II reporting requirements
A fifth of investment firms are failing to report properly.
FCA hands out record level of fines in 2019
UK watchdog has handed out £391 million in fines so far in 2019.
UK regulators take aim at banks’ IT failures
The FCA, PRA and Bank of England have published a paper on operational resilience
Regulators need to provide clarity on Libor cessation, says ISDA
ISDA writes letter to FCA asking for greater information on Libor phase-out.
Explained: The ECB’s role in the banking licence process & UK’s licensing procedures
Cécile Sourbes unpacks the process of licensing in the UK.
Former FCA exec says banking tech could lead to discrimination
Diverse hiring practices would help address discrimination by financial technologies.
FCA exposed for ‘shameful’ behaviour at its London HQ
Behaviors include defecating on the toilet floors and verbally abusing outsourced staff.
PRA warns insurers over work culture
Staff must feel able to speak up about their concerns.
FCA should overhaul EMIR supervision, says ESMA review
FCA ranks bottom among six major EU competent authorities for EMIR data supervision.
FCA will ‘take appropriate action’ against product greenwashing which misleads customers
The regulator will work on “common standards and product disclosures”.
