Financial Conduct Authority (FCA)

704 results about this entity

Period: 02 Sep 2004 - 11 Jul 2024

UBS fined £29.7 million by FSA over rogue trading incident

The UK's Financial Services Authority has fined UBS £29.7 million for serious failings that allowed rogue trader Kweku Adoboli to rack up £1.4 billion in losses from unauthorised trading.

Bats Chi-X Europe seeks UK exchange license

Pan-European trading platform Bats Chi-X Europe is in talks with the UK's Financial Services Authority about becoming a registered exchange, according to press reports.

FSA fines Bank of Scotland over costly legacy computer lash-up

The Financial Services Authority (FSA) has fined Bank of Scotland (BOS) £4.2 million for computer system failures which meant it held inaccurate mortgage records for 250,000 of its customers. As a result of the failings, the bank mistakenly made £20.4 million in goodwill payments to some customers who did not deserve the cash bonanza.

Libor reform sparks market data tender scramble

Market data firms and index compilers are set to go to tender for the right to administer a souped-up version of the tainted London Interbank Offered Rate (Libor).

FSA fines BlackRock unit £9.5m for putting client money at risk

BlackRock Investment Management (UK) (BIM) has been fined £9.53 million by the FSA after errors caused by systems changes put client money at risk.

FSA selects Nasdaq OMX market surveillance technology

The UK's Financial Services Authority (FSA) has signed for Nasdaq OMX's Smarts Integrity market surveillance system to help monitor transaction reports.

Australian and UK regulators warn on crowdfunding risks

Australian and UK watchdogs have both warned of the potential financial and regulatory risks for participants involved in the fast-growing crowdfunding sector.

FSA warns banks on old tech, slow payments and failure to engage with customers

British banks must start treating their customers better, according to FSA managing director Martin Wheatley, who accuses the industry of dragging its feet on issues such as prompt payments processing.

CA Cheuvreux launches equities MTF; locks out HFT troublemakers

Crédit Agricole Cheuvreux has launched its own pan-European dark pool that will not be open to proprietary and high-frequency traders.

FSA fines Coutts £8.75m over AML failings

Coutts, the private bank owned by RBS, has been fined £8.75 million by the Financial Services Authority (FSA) for anti-money laundering systems and controls failings.

UK and Swiss watchdogs launch formal investigations into UBS over trading scandal

UK and Swiss regulators have launched formal proceedings against UBS over the £2.3 billion unauthorised trading loss made at the bank last year.

UK banks wage cyber war games

UK banks are participating in a war games-style market exercise to test their responses to a concerted cyber attack and the threats posed to their business by traffic gridlock at the 2012 Olympics.

Ex-City minister calls for HFT probe

After a week of extreme market volatility, former City minister Lord Myners has called on the UK government to investigate high-frequency trading.

LSE buys FSA's Transaction Reporting Service

The London Stock Exchange has agreed a £15 million cash deal to buy the Financial Services Authority's Transaction Reporting Service (TRS).

Banks found to be putting profits before risk in FSA money laundering review

The Financial Services Authority is ready to launch a crack-down on bank anti-money laundering practices after finding serious weaknesses in banks' systems and controls and a willingness to turn a blind eye to profitable business relationships with high-risk customers and regimes.

UK banks breaching data protection rules - Which?

The UK's biggest banks and building societies are regularly breaching data protection rules, according to figures obtained by consumer group Which? under the Freedom of Information Act.

LCH.Clearnet and X-Clear get FSA approval for interoperability

European clearing house interoperability has moved a step nearer after the UK's FSA approved new arrangements between LCH.Clearnet and Switzerland's X-Clear.

As FSA deadline looms, TeleWare unveils mobile call recording system

Teleware has launched a 'clientless' mobile call recording system designed to help financial services firms meet FSA rules set to come into effect later this year.

FSA paper trail hampering compliance activities - CISI

The Financial Services Authority is bombarding member firms with so much written material that it is hampering compliance activities, according to a survey conducted by the Chartered Institute for Securities & Investment (CISI).

FSA not interested in trawling through algo code

The UK's Financial Services Authority has no intention of "looking through lines of code" before signing off algorithms used by high-frequency traders, describing the prospect, floated by the European Commission, as a "bad idea".