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PRA amendment to LTI rules will exclude most private banks

1 October 2014 12:47 pm | By Paul Thomas

Lenders that write fewer than 300 mortgages a year are now excluded.

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Channel Islands Stock Exchange fined £190k over Arch cru

1 October 2014 11:46 am | By Tessa Norman

Guernsey regulator fines stock exchange for failings relating to Arch cru transactions. 

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ASA bans claims firm ads targeted at Lloyds customers

1 October 2014 9:10 am | By Tessa Norman

Two online adverts from claims firm The Claims Guys have been banned for being misleading.

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'Danger' in advice to borrowers to suspend pension payments

1 October 2014 8:49 am | By Tessa Norman

Lenders’ policies on pension contributions are pushing some to consider ceasing payments. 

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Adviser summoned to Crown Court over £1m investment fraud

30 September 2014 1:38 pm | By Devraj Ray

John Field, 77, is alleged to have fraudulently obtained more than £1m from 33 investors over a 9-year period.

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Citizens Advice: Payday lenders still 'falling short on responsible lending'

30 September 2014 12:00 pm | By Devraj Ray

Survey shows just a quarter of struggling borrowers feel their lender has treated them sympathetically.

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FSCS declares seven investment and pensions firms in default

30 September 2014 11:33 am | By Tessa Norman

Investment and pension firms among 14 businesses declared in default. 

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CISI chair Alan Yarrow elected Lord Mayor of the City of London

30 September 2014 10:17 am | By Devraj Ray

Yarrow spent 37 years at Dresdner Kleinwort, most recently serving as chairman of the UK bank.

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Lloyds sacks eight staff for Libor rigging

30 September 2014 8:50 am | By Devraj Ray

The bank has withheld £3m in bonus payments to the employees, dismissed for rigging the benchmark interest rate.

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FCA charges ex-Morrisons exec with insider trading

29 September 2014 3:08 pm | By Michael Berry

The FCA has charged the former treasurer and head of tax at Wm Morrisons, Paul Coyle, with insider trading.

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Sesame restricted move prompts 6% member exit

29 September 2014 3:00 pm | By Tessa Norman

Network sees 6 per cent of members leave after announcing plans for restricted move. 

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FCA expects adviser costs to halve following RMAR changes

29 September 2014 11:19 am | By Tessa Norman

Regulator confirms proposed changes to RMAR, including move to annual reporting for section K. 

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FCA in talks with banks over £2bn Forex rigging fines

26 September 2014 1:30 pm | By Tessa Norman

Regulator close to enforcement deal with banks over Forex rigging, according to reports. 

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FCA creates new 'cradle to grave' retail fund team

26 September 2014 11:19 am | By Michael Berry

The FCA’s new 15-strong team will authorise and supervise retail investment funds with the aim of greater efficiency.

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Just how ready is the industry for Budget guidance?

26 September 2014 10:01 am | By Natalie Holt

What needs to be done between now and April to deliver a workable service?

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UK financial services commissioner stripped of bankers' pay powers

26 September 2014 8:44 am | By Sam Brodbeck

EC president cuts remuneration policy from commissioner’s brief to appease critics.

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Advisers back FCA U-turn on independent advice and referrals

25 September 2014 4:17 pm | By Tessa Norman

Change of stance will result in better consumer outcomes, say advisers. 

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RBS chairman to step down

25 September 2014 10:31 am | By Tessa Norman

Sir Philip Hampton has served as chairman for five years. 

Comments (2)

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Barclays tops FCA complaints data again

25 September 2014 9:56 am | By Tessa Norman

Barclays received the highest number of complaints in the first half of 2014. 

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FOS upholds complaint against stockbroker over £110k Ucis

25 September 2014 9:30 am | By Tessa Norman

Firm accepted investment instructions from Quintillion Asset Management without investor’s consent. 

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Ex-Barclays bankers summoned by SFO

25 September 2014 8:35 am | By Sam Brodbeck

Former board members will give evidence as part of probe into Qataris’ involvement during the financial crisis.

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FCA fines Barclays £38m for client money failings

25 September 2014 | By Tessa Norman

Regulator found “significant weaknesses” in the bank’s systems and controls. 

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FSCS defends ‘modest’ £3m PR campaign

24 September 2014 1:04 pm | By Tessa Norman

FSCS targeting pensions freedoms in future communications. 

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FCA bans adviser for false mortgage applications

24 September 2014 11:02 am | By Tessa Norman

Adviser overstated his income in two personal mortgage applications. 

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FCA warns advisers and investors over EEA Life Settlements misselling

24 September 2014 8:51 am | By Pamela Morris

Regulator recommends advice firms ‘re-examine’ EEA sales.

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Bank of England wants co-ordination on regulatory fines

24 September 2014 8:45 am | By Sam Brodbeck

PRA chief Andrew Bailey warns firms’ operations could be limited if fines are too high.

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SEC investigates Pimco ETF pricing

24 September 2014 8:44 am | By Natalie Holt

The Wall Street Journal reports the US regulator is carrying out a probe into whether Pimco artificially boosted returns of an ETF.

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Inaccurate FCA returns and account names: Why Barclays was fined £38m

23 September 2014 12:12 pm | By Tessa Norman

Barclays mixed client money with other assets and held inaccurate data, FCA final notice reveals. 

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FCA fines Barclays £38m over client money failings

23 September 2014 8:25 am | By Sam Brodbeck

Record penalty comes three years after the bank paid £1m for the same issue.

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BBA urges Bank to exclude HNW clients from LTI cap

22 September 2014 4:12 pm | By Devraj Ray

Bankers trade body says LTI cap will unfairly penalise private banks and high net worth clients.

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'Inconsistent, outdated and unfair’: Firms give FCA feedback for Project Innovate

19 September 2014 4:04 pm | By Tessa Norman

Firms blame the FCA’s approach for stifling innovation. 

Comments (2)

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FCA: Failure to prepare for Mifid II is unacceptable

19 September 2014 2:07 pm | By Tessa Norman

Firms must begin preparations for EU rules now ahead of 2017 implementation, says FCA. 

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Apfa: How the guidance guarantee should be funded

19 September 2014 12:18 pm | By Tessa Norman

Levy should be allocated based on the retirement products consumers take up. 

Comments (1)

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Godfrey Bloom: Ukip should do more to tackle financial regulation

18 September 2014 1:04 pm | By Samuel Dale

Former Ukip financial services spokesman Godfrey Bloom says the party is focussing solely on EU regulation.

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FCA suspends activities of three debt management firms

18 September 2014 10:52 am | By Tessa Norman

Regulator freezes bank accounts of three firms under investigation. 

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FOS upholds two complaints against Sesame for advice failings

18 September 2014 9:30 am | By Tessa Norman

FOS finds advice process failings including poor record-keeping.

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ShareAction attacks ‘dangerously weak’ DC governance reforms

17 September 2014 12:26 pm | By Sam Brodbeck

Charity warns new independent governance committees are conflicted and lack the power to hold providers to account.

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Listed companies face executive pay shake-up

17 September 2014 8:57 am | By Tessa Norman

New rules from Financial Reporting Council will see pay linked to long-term performance. 

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'Safe as houses': How ex-SJP adviser misled clients

16 September 2014 12:13 pm | By Tessa Norman

Ex-SJP adviser promised clients annual returns of up to 24 per cent.

Comments (9)

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Citizens Advice urges FCA to place 'health warning' on payday loan adverts

16 September 2014 10:20 am | By Devraj Ray

CAB says payday loan adverts that appeal to children are “utterly unacceptable”.

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