Wise shares plummet as money transfer firm faces fraud investigation June 1, 2026 Shares in money transfer firm Wise have plummeted this morning as the fintech faces an investigation over allegations its accounts have been used for criminal activity. Prosecutors in Belgium opened an investigation last year after discovering Wise accounts had been flagged in hundreds of international criminal requests that spanned over 30 European countries. The transactions [...]
Jamie Dimon opens door to a $20bn JP Morgan takeover May 28, 2026 Jamie Dimon has kicked the door open to the prospect of JP Morgan completing a major takeover that would shake-up the global banking landscape. The Wall Street boss raised the idea of the bank spending as much as $20bn (£15bn) as it looks to capitalise on the freed up capital from deregulation reforms. “I do [...]
UK finance workers weigh quitting over back-to-office mandates May 19, 2026 Financial services workers are weighing quitting their roles if their companies mandate office attendance amid a deepening feud between managers and employees. Nearly six in ten employees in the finance sector said requirements around their office presence is making them more likely to leave their role, according to new research from City recruiter Morgan McKinley. [...]
Revolut bags watchdog approval to beef up UK wealth offering May 14, 2026 Revolut has received the regulatory green light to bulk up its wealth management offering, marking one of its first major expansions in the UK after bagging its banking licence. The $75bn juggernaut’s trading arm has secured a Variation of Permissions from the City watchdog, which allows the firm to broadened the scope of regulated activities [...]
Motor finance compensation scheme hanging by a thread amid legal row May 8, 2026 The City watchdog has told lenders to prepare for the “alternative scenario of no scheme” in the long-running motor finance scandal as another legal showdown brews. The Financial Conduct Authority (FCA) has received four legal challenges including from lenders Volkswagen Financial Services, Mercedes-Benz Financial Services and Crédit Agricole Auto Finance. On the consumer side, the [...]
Lloyds hit with highest FCA complaints as finance firms fork out £240m April 28, 2026 Lloyds Banking Group led the pack as the most complained about financial services group in the second half of 2025 as the industry forked out a near-quarter of a billion pounds to dissatisfied customers. Across its subsidiaries, the FTSE 100 giant was hit with a storm of 187,516 grievances to the UK’s financial watchdog in [...]
Macquarie ups stake in Argentex founder’s fintech as it clinches licence April 28, 2026 Macquarie has built up its stake in a London-based foreign exchange fintech after the firm clinched a new permit from the City watchdog. The financial services giant has increased its holdings in Tenora to 33 per cent. It follows the fintech bagging Macquaire’s investment last summer in fundraise that valued the start-up at £15m. The [...]
Exclusive: Treasury and regulator to hold crunch talks with UK fintech unicorns April 16, 2026 Top fintech bosses will lock horns with Treasury and watchdog officials next week as the industry lobbies for key regulatory reforms, Morning Wire can reveal. Several of the nation’s fastest-growing companies are set to meet City Minister Lucy Rigby on Tuesday as part of a flurry of key summits in UK fintech week. The City [...]
Blue Owl caps private credit redemptions after investors try to pull $5.4bn April 2, 2026 Investors in Blue Owl’s multi-billion dollar private credit fund have asked to withdraw around a fifth of their money in another dramatic escalation of jitters across Wall Street and the financial ecosystem. The asset manager’s flagship $36bn fund saw redemption requests hit 21.9 per cent of outstanding shares in the first quarter, while its tech-focused [...]
UK banks blast regulations for ‘penalising’ good risk management April 2, 2026 Top lenders have laid bare their frustrations with UK banking regulation in a bombshell new report that urges the removal of “excessive conservatism”. In response to the Bank of England’s review of capital requirements, the Association for Financial Markets in Europe (AFME) – which represents over 150 global banks, including the UK’s Big Four – [...]