Regulatory Oversight
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Enforcement Actions
Weak bank customer due diligence in spotlight again after Barclays fined £42 million
Barclays was handed two separate fines by the UK Financial Conduct Authority (FCA) yesterday for failures in its financial crime...
Regulatory Oversight
Financial Ombudsman board dismissed CEO after ‘fundamental disagreementsʼ
Abbey Thomas was dismissed from her role as chief executive of the Financial Ombudsman Service (FOS), the Treasury Committee has...
UK Regulation
FCA creates dedicated ‘neo-brokerʼ supervision team
The UK Financial Conduct Authority (FCA) is creating a separate team to supervise firms that are classified as “neo-brokers” under...
Enforcement Actions
Monzo fined £21 million for fincrime failures, third challenger bank fine inside a year
Challenger bank Monzo has been handed a £21 million fine by the UK Financial Conduct Authority (FCA) for failings in...
Conduct & Culture
FCA’s new harassment and bullying rule expands possibility for individual bans
The UK Financial Conduct Authority’s (FCA) new harassment and bullying rules introduce the possibility of the regulator banning more individuals...
Compliance
FCA tech head claims AI enabling ‘Minority Reportʼ-like detection of financial harm
The Financial Conduct Authorityʼs (FCA) deployment of artificial intelligence (AI) has given the regulator the ability to detect financial harm...
Regulatory Oversight
Lifetime ISAs failing savers, should carry ‘consumer warning’ say lawmakers
The Lifetime Individual Savings Account (LISA), which allows people to save towards a deposit for their first home and for...
Regulatory Oversight
FCA, PRA labelled risk adverse and growth hampering in House of Lords report
The UKʼs financial regulators have a “deeply entrenched culture of risk aversion”, which is stalling their efforts to advance their...
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