Prime broker Linear Investments disputes £409,300 FCA fine LeapRate

September 27, 2018 BY Valentina Kirilova

Prime broker Linear Investments disputes £409,300 FCA fine

The Financial Conduct Authority (FCA) has just published a Decision Notice concerning Linear Investments Limited (Linear). Linear failed to take reasonable care to organise and control its affairs responsibly and effectively to ensure potential instances of market abuse could be detected and reported. The failure occurred from 14 January 2013 to 9 August 2015. Linear…

September 05, 2018 BY Valentina Kirilova

FCA appoints Sheldon Mills as its new Director of Competition

The Financial Conduct Authority (FCA) has just informed the public that it has appointed Sheldon Mills as its new director of competition. Sheldon Mills is currently senior director, mergers and state aid at the Competition and Markets Authority (CMA). At the FCA, Mills will be a central figure in delivering one of the organisation’s operational…

FCA wants to improve conduct and communications in payment services and e-money firms

August 01, 2018 BY Valentina Kirilova

FCA to improve conduct in payment services and e-money sectors

The Financial Conduct Authority (FCA) has just informed the public that it is consulting on rules and guidance to improve conduct standards and communications in the payment services and e-money sectors. The Consultation Paper proposes to extend the application of the Principles for Businesses and certain specific rules about promotions and communications so that they…

ESMA releases supportive opinion regarding BaFin’s ban on short selling

July 25, 2018 BY Valentina Kirilova

FCA bans four former directors of Secure My Money Ltd

The Financial Conduct Authority (FCA) has just announced that it has banned David James Carter Mullins, Edward John Booth, Christopher Paul Brotherton and Mark Robert Kennedy, the former directors and shareholders of Secure My Money Limited (now dissolved). The firm took fees of over £7.2 million from approximately 124,000 online customers by duping them into…

July 05, 2018 BY Valentina Kirilova

FCA challenged to do more to support professionalism in UK financial services

A financial services Alliance with a combined global membership of 200,000 has announced that it is challenging UK's Financial Conduct Authority (FCA) to do more to support professionalism in UK financial services. The Chartered Body Alliance, which is composed of the Chartered Insurance Institute, the Chartered Institute for Securities & Investment and the Chartered Banker…

July 04, 2018 BY Valentina Kirilova

FCA clarifies fairer treatment of regular premium PPI complaints

The Financial Conduct Authority (FCA) has today issued a consultation paper on new guidance about the handling of certain regular premium payment protection insurance (PPI) complaints. In March 2017 the FCA has made rules in relation to the Supreme Court judgment in Plevin. That judgment and the rules say that a lenders failure to disclose…

June 11, 2018 BY Valentina Kirilova

FCA secures increased confiscation order against a convicted fraudster

The UK Financial Conduct Authority (FCA) has just informed that His Honour Judge Grieve QC sitting at the Central Criminal Court has increased the value of a confiscation order made against Benjamin Wilson, a convicted fraudster, from 1 to 31,905.33, . The increased order must be paid within 28 days or Mr Wilson will face…

June 08, 2018 BY Valentina Kirilova

FCA releases new premium listing category for sovereign-controlled countries

The Financial Conduct Authority (FCA) has announced that it has today finalised rules creating a new category within its premium listing regime to cater for companies controlled by a shareholder that is a sovereign country. In July last year, the FCA consulted on proposals aimed at encouraging such companies to choose the higher standards of…

June 06, 2018 BY Valentina Kirilova

FCA fines Canara Bank £896,100 and imposes a restriction

The Financial Conduct Authority (FCA) has informed the public that it has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days. Financial services firms are required to maintain robust anti-money laundering (AML) systems and controls, since they are at risk from those seeking to…

April 05, 2018 BY Valentina Kirilova

FCA sets out next steps to improve competition in UKs asset management industry

The Financial Conduct Authority (FCA) has informed that it has today published the latest step in its response to the concerns identified through its asset management market study. This is part of a package of remedies to ensure fund managers compete on the value they deliver, and act in the interests of the millions who…

Tag: Financial Conduct Authority