Rathbones halts taking on high-risk clients after watchdog-led review Shares in the company fell by around 16% after revealing it is having to make changes that will cost an estimated £60 million. Evening Standard · Jun 16
Global taskforce releases draft framework for social disclosure In this week’s edition of Economy and Society: Ballotpedia · Jun 10
Revealed: How much you need to earn in top UK cities to get on the housing ladder Average salaries are far below what is needed to get a mortgage in many places The Independent UK · Jun 10
Neil Woodford’s W4.0 platform ‘rejects’ FCA characterisation amid legal threat The FCA alleged on Monday that former fund manager Mr Woodford and his business had been providing unauthorised investment advice. Evening Standard · Jun 9
Car finance payouts could be delayed by years over legal challenges, says FCA Complaints-led approach could pile £6bn of extra costs on to lenders, says City watchdog The Guardian - UK · Jun 9
Car finance payouts likely to be delayed until at least 2027, warns watchdog The Financial Conduct Authority said it has already spent more than £20 million developing the plans and that further costs lie ahead. Evening Standard · Jun 9
FCA aims to help more people such as first-time buyers to access mortgages The regulator said it believes that some creditworthy people may be currently underserved by the market. The Independent UK · Jun 8
City watchdog sues Neil Woodford for allegedly offering unauthorised investment advice Move comes months after the FCA announced plans to ban the former investment star from holding senior City roles after collapse of popular equity fund The Guardian - UK · Jun 8
FCA seeks injunction against Neil Woodford and investment platform It comes after the financial regulator provisionally fined Mr Woodford and banned him as a fund manager last year. Evening Standard · Jun 8
Will AI really make banking better for customers? AI is changing how people bank, save, borrow and ask for help. It could make finance faster, cheaper – and even more personal. But if customers cannot understand decisions, challenge mistakes or reach a human when things go wrong, “smart” finance may simply become a more efficient way to frustrate… The Conversation · Jun 8
Global Markets: UK financial regulator softens proposed change to UK money market fund rules In May the government said it would impose tougher rules on money market funds, which were hit by heavy redemptions during a COVID-19-induced "dash for cash" and have been a focus of regulators since. The Economic Times · Jun 8
FCA’s Palantir deal could expose UK financial data to Trump’s US, critics fear Exclusive: MP and campaigners say sensitive citizen and company data could be subject to US disclosure laws The Guardian - UK · Jun 1
Poorer drivers more likely to miss out on car finance payouts, lawyers say Around 1.1 million low-value car finance agreements will not be eligible for redress, consumer law firm Slater and Gordon found. Evening Standard · May 25
The ‘ghost broking’ trend that’s scamming young drivers for car insurance IN FULL The Independent UK · May 19
The Independent UK · May 19 The ‘ghost broking’ car insurance scam targeting young drivers on social media A warning has been issued to motorists about ‘ghost brokers’ selling bogus insurance policies through social media and messaging platforms
Evening Standard · May 19 Young drivers urged to steer clear of ‘ghost broking’ insurance scams The Financial Conduct Authority is urging motorists to be wary of offers that sound too good to be true.
Evening Standard · May 19 Reforms aim to help make consumer credit rules ‘fit for digital age’ The Consumer Credit Act was written for a different era, Economic Secretary to the Treasury and City minister Rachel Blake said.
Evening Standard · May 13 Review will check if investment firms offer bereaved customers adequate support The FCA will look at the experience customers have from when firms are told about a bereavement, through to the settlement or transfer of investments.
The Independent UK · May 7 Revealed: The five high street banks with the most customer complaints In total banks paid out £236.2m to complainants, with the average pay-out totalling £215
Evening Standard · May 6 Regulator to review claims management companies amid ‘poor practices’ concerns Consumers were being let down ‘too often’, the Financial Conduct Authority said.
The Guardian - UK · May 6 UK regulator launches review of ‘aggressive’ claims management firms amid compensation concerns FCA focuses on marketing, misleading ads, unfair exit fees and people being signed up without their permission
The Guardian - UK · May 2 New free financial advice plan aims to help Britons build savings ‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensions
The Guardian - UK · May 1 FCA faces four lawsuits over £9.1bn compensation scheme for car loan victims Watchdog says legal challenges from Consumer Voice and three lenders ‘create fresh uncertainty for millions of consumers’
Evening Standard · May 1 Watchdog warns millions face ‘fresh uncertainty’ over car finance compensation Three lenders and a consumer group have launched legal challenges to the Financial Conduct Authority’s redress scheme.
The Guardian - UK · Apr 30 Canada to create powerful financial crimes agency as US weakens its approach Cryptocurrency ATMs also face ban, after public inquiry found Canada lacked anti-money-laundering strategy