FCA joins Bank of England in relocating jobs from London to Leeds August 7, 2024 The Financial Conduct Authority (FCA) has revealed plans to relocate 100 jobs from London to Leeds, just months after the Bank of England announced a similar move. The watchdog, which established its first office in Leeds two years ago, is growing its team at the digital delivery centre on Queen Street, where around 100 employees [...]
H2O Asset Management to pay investors £215m to avoid ‘substantial’ FCA fine August 7, 2024 H2O Asset Management will pay €250m (£215m) to clients who have been unable since 2020 to access investments then worth around €1.6bn (£1.4bn) to avoid a “substantial” fine from UK regulators. Following talks with the Financial Conduct Authority (FCA), the watchdog has agreed H2O will make the sum available to all those whose investments remain trapped. The French firm will apply to cancel its [...]
FCA listings shake-up is golden opportunity to revive UK’s REITs sector August 7, 2024 Reinvigorating investment in real estate will ultimately accelerate growth, writes Antony Antoniou
The Notebook: Why the Consumer Duty is something to celebrate August 6, 2024 Where the City’s movers and shakers have their say. Today, Debbie Kennedy, CEO at Lifesearch, takes the notebook pen to tell us why we should cheer the Consumer Duty Happy birthday to the Consumer Duty! Last week saw the one-year anniversary of Consumer Duty – a relative ‘unknown’ for the average person on the street, [...]
One year on, is the consumer duty helping or hindering the City? July 31, 2024 Today, the consumer duty’s final deadline comes into force. The set of regulations implemented by the Financial Conduct Authority a year ago has finally been set in stone for so-called closed products, with all financial services companies now forced to "put their customers' needs first.
The Notebook: If Reeves wants the City onside, she must be clear on her vision July 31, 2024 Where the City’s movers and shakers have their say. Today, it’s Lucy McNulty, editor of the Following the Rules podcast, with the pen, talking Treasury-City relations, buy now, pay later, and her pick of the podcasts The City needs a clear vision The decision by Chancellor Rachel Reeves to create a Treasury unit focused on [...]
FCA to strip back red tape after conceding consumer duty ‘overlap’ July 29, 2024 The Financial Conduct Authority (FCA) will strip back red tape from the City and “streamline” its regulatory rulebook after conceding that its stringent consumer duty rules were overlapping with swathes of existing regulation.
FCA shakes up prospectus regime in bid to revive beleaguered capital markets July 26, 2024 The Financial Conduct Authority (FCA) has laid out a shake-up of the UK’s prospectus regime today as part of a sweeping package of reforms designed to boost the country’s capital markets.
FCA makes first crypto-related sting against Coinbase subsidiary July 25, 2024 Crypto company CB Payments Limited (CBPL) has been slapped with a £3.5m fine after the Financial Conduct Authority made its first ever crypto sting.
Banks must ensure access to cash when closing branches under new FCA rules July 24, 2024 Banks and building societies looking to close branches will have to weigh up whether residents are able to access cash under new rules announced by the City watchdog today. Starting from 18 September, banks will have to assess whether closing local bank branches or ATMs leaves communities without adequate access to cash. Where significant gaps [...]