FCA boss: Watchdog’s mindset ‘is changing’ on financial advice September 24, 2024 The Financial Conduct Authority (FCA) has said its “mindset is changing” as it attempts to make financial advice more accessible to consumers. The watchdog is aiming to shift the way it regulates to take a “more outcomes-based approach”, said Sarah Pritchard, executive director of markets and international at the FCA, in a speech today. With [...]
FCA to ‘intensify engagement’ with City over controversial ‘name and shame’ plans September 24, 2024 The Financial Conduct Authority (FCA) is planning to "intensify" its engagement with the City in the coming months over controversial plans to ‘name and shame’ firms under investigation.
FCA chair cleared of wrongdoing in whistleblowing case September 23, 2024 Financial Conduct Authority (FCA) chair Ashley Alder has been cleared of wrongdoing after an investigation over his handling of a whistleblower complaint. Last month, a former employee of the FCA claimed that Alder had failed to keep their identity secret, with a second former employee coming forwards with a similar allegation shortly afterwards. The FCA [...]
FCA chief encourages more risk-taking among firms to boost financial inclusion September 19, 2024 The chief executive of the Financial Conduct Authority has said more risk-taking among firms is needed to push a "step change" in the UK's financial inclusion, which could also boost economic growth.
Investment trusts celebrate move to reform cost disclosure rules September 19, 2024 The UK has finally exempted investment trusts from complying with cost disclosure requirements that industry experts say could unlock billions in investment. In a statement today, the government and Financial Conduct Authority said regulators would temporarily withdraw the requirements, which campaigners have argued force trusts to ‘double count’ their fees. While this is also the [...]
Close Brothers to sell asset management arm as motor finance bill looms September 19, 2024 Close Brothers' shares are down by around a third since the Financial Conduct Authority announced in January that it would review whether customers were overcharged via now-banned discretionary commission arrangements on car loans.
London Stock Exchange set to decline in coming years, FTSE boards warn September 19, 2024 Slightly more than half of FTSE 350 company boards believe the London Stock Exchange will decline in the coming years, according to a new survey, in a blow to the UK government's plans for capital markets reform.
UK banks giving savers better value but still ‘room for improvement’, FCA says September 18, 2024 The City regulator has said savers are an estimated £4bn better off following improvements to easy access rates in recent months, but still put pressure on banks to offer more value.
UK bank compensation scheme faces leadership vacuum after recruitment delays September 18, 2024 The institution that protects government-guaranteed deposits in failed banks is facing questions over its future leadership after multiple setbacks to recruiting a new chair and permanent chief executive, Morning Wire can reveal.
New access to cash rules kick in for UK banks and building societies September 18, 2024 New rules from the UK's financial regulator to ensure access to cash have come into force, handing new powers to local communities and placing stricter requirements on banks looking to close branches.