Financial Conduct Authority (FCA)

700 results about this entity

Period: 02 Sep 2004 - 16 May 2024

FSA urges firms to improve disaster recovery planning

The UK's largest financial insitutions have "highly resilient" IT systems that could recover critical functions quickly after a terrorist attack or natural disaster, but firms could still be at risk because too many back-up sites are located in London, says the Financial Services Authority.

FSA moves to cut red tape

Stung by criticism that it operates an overly prescriptive compliance regime, the Financial Services Authority (FSA) has published plans to reduce the cost and burden of regulations on UK firms.

UK's financial sector conducts disaster recovery drill

Britain's financial sector is conducting a market-wide business continuity test today that will assess firms' readiness for dealing with a major crisis such as a natural disaster or a terrorist attack.

FSA warns firms to step up MiFID preparations

The UK's Financial Services Authority (FSA) is urging banks and asset management companies to step up their preparations for the implementation of the European Union's Markets in Financial Instruments Directive (MiFID), which the watchdog says is now likely to come into force on 1 November 2007.

FSA warns of criminal gangs inside City banks

The UK's Financial Services Authority has repeated a warning that organised gangs of criminals are infiltrating British banks in order to carry out large-scale frauds.

City financial firms given priority access to telephone network

Large financial firms in the City of London are to be given access to priority telephone networks following the terrorist bombings on 7 July.

FSA to review trading transparency in the bond markets

The UK's Financial Services Authority (FSA) has published a discussion paper to examine whether there is a need for greater pre- or post-trade price information in the secondary bond markets.

FSA hits out at MiFID cost burden

The head of the UK's Financial Services Authority has launched a stinging attack on the European Union's new investment services directive, which he claims will impose significant costs in return for questionable benefits.

City emergency prompted algorithmic shutdown

The London Stock Exchange ordered all market participants to switch off their algorithmic trading systems in an effort to relieve downward pressure on pricing following Thursday's bomb attacks in central London.

FSA fines Citigroup £13.9m for Eurobond trades

The UK's Financial Services Authority has fined Citigroup £13.9 million following its investigation into the bank's controversial trading in the European government bond and bond derivative markets last August.

FSA to upgrade IT surveillance to combat insider trading

The UK's Financial Services Authority is tendering for a supplier to upgrade its Sabre IT system, which monitors trading activity in the City.

FSA appoints Deloitte to study cost of compliance

The UK's Financial Services Authority has appointed Deloitte to conduct research among regulated companies into the cost of compliance with financial regulation.

UK regulator warns of offshoring risks

The UK's Financial Services Authority (FSA) has warned that shifting call centres and back office operations to offshore centres poses a serious risk to the watchdog's objectives of reducing financial crime and maintaining consumer protection and market confidence.

FSA faces withering attack over regulatory burden

The Financial Services Authority has been savaged by City business leaders in a brutal attack on the UK watchdog's "heavy-handed" compliance regime.

UK regulator warns of back office risks in OTC credit derivatives

The Financial Services Authority says that firms in the fast-growing OTC credit derivatives business are failing to keep their back office operational risk procedures up-to-speed with the latest market developments.

FSA consults on Basel II as banks weigh IT costs

The Financial Services Authority has issued a consultation paper on the European Union's Capital Requirements Directive for Basel II in an effort to aid firms as they prepare for extensive systems and risk management changes to comply with the new regulations.

FSA calls on financial services firms to improve IT security

Banks are failing to keep pace with IT security in the fight against fraud according to a report from the UK's Financial Services Authority (FSA). The watchdog also warns that criminals are applying for jobs in financial services firms in order to gain access to sensitive customer data.

FSA to crack down on financial fraud risks

The Financial Services Authority is to step up its examination of bank anti-fraud safeguards in an effort to cut down on soaring levels of financial crime.

Electronic checks mooted under FSA proposals for relaxing customer ID rules

The UK's financial watchdog is proposing a relaxation of customer ID rules for anti-money laundering, including the acceptance of electronic verification checks.

Bank of Ireland fined for anti-money laundering breaches

The Financial Services Authority (FSA) has fined the Bank of Ireland (BoI) £375,000 for failing to have in place systems to detect a series of high-risk, cash transactions worth approximately £2 million, in breach of anti-money laundering regulations.