Financial Conduct Authority (FCA)

700 results about this entity

Period: 02 Sep 2004 - 16 May 2024

/regulation

FCA accuses three money transfer firms of price fixing

In a statement of objections issued today, the Financial Conduct Authority (FCA) alleges that Dollar East (International Travel & Money Transfer) Ltd, Hafiz Bros Travel & Money Transfer Limited, and LCC Trans-Sending Limited (including its parent company Small World Financial Services Group Limited) trading as Small World, fixed prices charged to customers in Glasgow for transferring money from the UK to Pakistan.

/regulation

FCA penalises Al Rayan Bank for anti-money laundering failures

The FCA has fined Al Rayan Bank PLC (Al Rayan) £4,023,600 for failing to put in place adequate anti-money laundering (AML) controls.

/regulation

FCA fines GT Bank £7.8 million for serious AML compliance failings

The Financial Conduct Authority (FCA) has fined Guaranty Trust Bank (UK) Limited (GT Bank) £7,671,800 for serious weaknesses in its anti-money laundering (AML) systems and controls between October 2014 and July 2019.

/regulation

TSB fined £48.6 million over operational resilience failures

UK regulators have levied a £48.6 million fine on the TSB for a bungled IT migration programme in 2018 that locked customers out of their accounts for weeks and led to months of ongoing technical problems.

/retail

UK updates on new Open Banking entity

UK authorities have published an update on plans for a successor to the Open Banking Implementation Entity (OBIE).

/regulation

FCA fines BGC/GFI £4.8 million for market abuse failings

The FCA has fined BGC Brokers LP, GFI Brokers Limited and GFI Securities Limited (together, BGC/GFI) £4,775,200 for failing to ensure they had appropriate systems and controls in place to effectively detect market abuse.

/regulation

FCA to clamp down on misleading financial promotions

The FCA has proposed new measures to clamp down on illegal, unfair or misleading financial marketing.

/wealth

FCA to create 'simplified' financial advice regime

As part of its consumer investment strategy, the FCA has set out new proposals to improve people’s access to financial advice so they can invest with confidence.

/regulation

FCA issues warning about trading app gamification

The UK's Financial Conduct Authority (FCA) has warned stock trading app operators to review design features, including those with game-like elements, which risk prompting consumers to take actions against their own interest.

/crime

FCA issues final notice to former Sonali Bank CEO for AML failings

The Financial Conduct Authority (FCA) has publicly censured Mohammad Ataur Rahman Prodhan, the former Chief Executive Officer of Sonali Bank (UK) Limited (SBUK) for anti-money laundering (AML) failings.

/regulation

FCA warns of jail time for BNPL bosses over financial promotions

The UK's Financial Conduct Authority is warning BNPL bosses that they could face jail time if they do not stick to stringent financial promotion rules.

/sustainable

FCA to clamp down on greenwashing

In a bid to clamp down on greenwashing, the Financial Conduct Authority (FCA) is proposing a package of new measures including investment product sustainability labels and restrictions on how terms like ‘ESG’, ‘green’ or ‘sustainable’ can be used.

/regulation

FCA commences study into Big Tech entry into financial services

The UK's Financial Conduct Authority is launching a study on the potential competition benefits and harms from Big Tech firms’ entry into a range of retail financial services sectors.

/retail

FCA toughens stance on bank branch closures

The Financial Conduct Authority (FCA) has set additional expectations for banks that are considering branch or ATM closures.

/crime

25% of consumers vulnerable to scams when withdrawing pension savings - FCA

FCA research has found that a quarter of consumers would consider withdrawing pensions savings to cover cost of living in the current crisis. According to the FCA, this renders consumers vulnerable to ‘misdirection’ scam tactics.

/regulation

FCA’s amendment to the 90 day PSD2 rule comes into effect

The update will further streamline users’ ability to confirm data access for open banking services.

/regulation

UK watchdog warns consumers of dealings with FTX

THE FCA has warned consumers to steer clear of cryptocurrency exchange FTX, which is selling products and services in the UK without authorisation from the regulator.

/regulation

Revolut under pressure over internal audit

Online bank Revolut is facing more questions over its internal controls after it was criticised by a UK regulator for the unacceptably high risk of "material misstatement" in its account auditing.

/retail

UK's bank branch sharing project to be extended

A trial project involving bank branches shared by multiple institutions is set to be rolled out across the UK.

/regulation

FCA fines Citi £12.5m for trading oversight failings

The UK's Financial Conduct Authority (FCA) has levied a £12.5m fine against Citigroup Global Markets over past failures to police its trading activity