Borrowers have until Wednesday to apply for payment holidays
Borrowers have until Wednesday to apply for a payment holiday on products such as mortgages, personal loans and credit cards.
Financial Conduct Authority
Crackdown on ‘online free-for-all’ of pension scam adverts needed, say MPs
Global technology firms such as Google must be held to account for hosting pension scam adverts, MPs have urged.
Bailey was given time to respond to criticism, author of damning report says
The author of a damning report into the City regulator has dismissed claims that Bank of England governor Andrew Bailey was not given an opportunity to respond to statements made about him.
Regulators criticised for role in mini-bond collapse apologise to MPs
Regulators at the Financial Conduct Authority (FCA) have apologised to bondholders who lost millions of pounds invested in collapsed mini-bond London Capital and Finance (LCF).
Click-and-collect orders soar as Wickes prepares for independence
Wickes saw a quadrupling of click-and-collect orders last year, the company revealed as it progressed plans to split from parent Travis Perkins and list on the London Stock Exchange.
‘Whack-a-mole’ approach to stopping online scams is not working, says Which?
The “whack-a-mole” approach to protecting people from fraud when they are searching the internet is not working, Which? has warned.
Amigo shares slide after watchdog extends probe into troubled lender
Shares in troubled lender Amigo have tumbled further after it said the financial watchdog has extended the scope of an investigation into the firm.
Bank governor asked to explain link to scheme in RBS scandal
Bank of England governor Andrew Bailey is facing questions over his role designing a scheme allegedly linked to a Royal Bank of Scotland unit that mistreated small businesses.
Deloitte under investigation over audits of car seller Lookers
Accountancy giant Deloitte is under investigation by the industry watchdog over its role in auditing car showroom business Lookers between 2017 and 2018.
Pay-later boss voices ‘surprise’ over concerns about the sector
The boss of pay-later giant Klarna has said he is surprised by concerns about the sector.
FCA calls time on Libor rates by the end of 2021
The method for setting the rates at which banks borrow money, Libor, is set to run out at the end of the year for most currencies, as the regulator called time on a system which proved open to abuse by bankers almost a decade ago.
Home repossessions allowed from April but only as last resort – regulator
Home repossessions may take place from April but only as a last resort, the City regulator has said.
Proposals to drive up standards around pre-paid funeral plans set out by FCA
Proposals to improve standards around the sale and design of pre-paid funeral plans, including a ban on cold calling, have been set out by the City regulator.
Fair treatment of vulnerable customers must be embedded in firms’ culture – FCA
The fair treatment of vulnerable customers should be embedded in the culture of firms, from how frontline staff deal with customers to the way products are designed in the first place, the City regulator said.
Moneysupermarket sees revenue drop after Covid-19 travel collapse
Moneysupermarket said that it suffered from the coronavirus pandemic last year as closed borders led to a collapse in travel insurance sales.
Financial pain of coronavirus pandemic not being shared equally, says watchdog
The financial impact of the coronavirus pandemic has split the UK population into two halves, with some people’s incomes devastated and others left entirely unaffected, figures from the City regulator show.
Investigator rejects claims made by Bank boss around investment firm’s collapse
The investigator who released a report which was highly critical of the Financial Conduct Authority has said she rejects evidence its former boss gave to MPs on Monday.
FCA bosses ‘inherited broken system’ before collapse of mini-bond firm
Incoming bosses at the Financial Conduct Authority (FCA) inherited a “broken machine” that meant that multiple “red flags” were missed before the collapse of mini-bond operation London Capital & Finance (LCF), its former chief executive has said.
Urgent changes needed to make credit market fit for future, says Woolard Review
Regulation of the buy now pay later (BNPL) sector is one of a host of changes urgently needed to make the credit market fit for the future, according to the Woolard Review.
Buy now, pay later firms will come under FCA regulation
Buy now, pay later (BNPL) credit agreements will be regulated by the Financial Conduct Authority (FCA) following a surge in shoppers turning to such products during the coronavirus pandemic.
Banks should reconsider plans to close branches during lockdown says FCA
Banks should reconsider their plans to close branches during the current coronavirus restrictions, the city regulator has said.
FCA supports zero-tolerance approach to customers abusing bank branch staff
Reports of verbal and physical attacks on bank branch and other financial services staff who have asked customers to wear a face covering or to queue have been on the increase, the Financial Conduct Authority (FCA) has said.
Contactless card payment limit could be increased to £100
The contactless card payment limit could be raised to £100 under measures to be considered by the City regulator.
£78m reported lost to ‘clone firm’ investment scams in 2020
Consumers reported more than £78 million of losses to investment and pension scams involving fraudsters imitating genuine firms in 2020.
Compensation scheme for savers sets aside extra £339m to cover failures
A Government-backed insurance body designed to step in when banks or investment schemes fail has said it will need an extra £339 million to protect UK savers from the effects of Covid-19 in the coming financial year.
Watchdog proposes price caps on claims management firm charges
The fees charged by claims management companies could be capped under proposals by the City regulator, potentially saving customers a total of £9.6 million a year.
Advice firms recommend £20.1bn to be transferred from gold-plated pensions
Firms offering pension transfer advice recommended a total of £20.1 billion be moved out of gold-plated pots between October 2018 and March 2020, according to figures from the City regulator.
More than £3m spent Covid-proofing Treasury, FCA and tax offices
More than £3.1 million has been spent by the Treasury, the City watchdog and HM Revenue & Customs (HMRC) on making their offices Covid-19 secure for staff, new figures have revealed.
FCA issues final report on RBS’s controversial restructuring unit
The Financial Conduct Authority (FCA) has attempted to draw a line under a five-year scandal that saw officials accused of failing to take action against poor practices at Royal Bank of Scotland’s controversial restructuring division.
Aberdeen man, 72, conned out of £85,000 savings
An irate grandfather today told how heartless scammers conned him out of his life savings.