OSC and FCA sign Co-Operation Agreement to support innovative businesses LeapRate

February 22, 2017 BY Valentina Kirilova

OSC and FCA sign Co-Operation Agreement to support innovative businesses

Under a new Co-Operation Agreement, innovative FinTech businesses in Ontario and the United Kingdom will be able to seek support from their financial regulators as they seek to operate in the other’s market. Signed this week, the Agreement allows the Financial Conduct Authority (FCA) and the Ontario Securities Commission (OSC) to refer to one another…

February 14, 2017 BY Valentina Kirilova

FCA reviews effectiveness of UK primary capital markets

The Financial Conduct Authority (FCA) has today published a Discussion Paper which seeks feedback on how the UK primary capital markets can most effectively meet the needs of issuers and investors. The UK’s primary capital markets support the wider economy by bringing together investors seeking investment opportunities, and issuers wanting to access capital to finance…

January 31, 2017 BY Valentina Kirilova

FCA fines Deutsche Bank £163 million for serious anti-money laundering controls failings

The Financial Conduct Authority (FCA) has fined Deutsche Bank AG £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial Services Authority…

January 24, 2017 BY Valentina Kirilova

FCA warns on clone firm of UK Fast Loan

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm UK Fast Loan. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics…

January 17, 2017 BY Valentina Kirilova

FCA takes first criminal action against an individual acting as unlicensed consumer credit lender

Mr Dharam Prakash Gopee has appeared today at Westminster Magistrates Court charged with offences under the Consumer Credit Act 1974 and the Financial Services and Markets Act 2000. These charges arise from an investigation carried out by the Financial Conduct Authority (FCA) into Mr Gopee and companies he controls including Reddy Corporation Ltd, Speedy Bridging…

January 16, 2017 BY Valentina Kirilova

Former employee of Logica Plc sentenced in insider dealing case

In a prosecution brought by the Financial Conduct Authority (FCA) Manjeet Mohal, a former employee of Logica Plc, has today been sentenced to 10 months imprisonment suspended for two years in respect of two counts of insider dealing. He was also ordered to undertake 180 hours of community work. Reshim Birk, a neighbour of Mr…

December 14, 2016 BY Valentina Kirilova

FCA proposes changes to FSCS client compensation rules

The Financial Conduct Authority (FCA) has today announced that it is inviting views on the future funding of the Financial Services Compensation Scheme (FSCS) and has also launched a consultation on a number of specific changes to its scheme rules. The FSCS is the UK’s statutory compensation scheme of last resort, which can step in…

December 09, 2016 BY Valentina Kirilova

FCA plans to tighten rules around investment and loan crowdfunding

Continuing a busy week for UK regulator the FCA, in which it has already shaken the online trading market by introducing stricter rules for CFD trading, the FCA has given an update on the post-implementation review of the loan-based and investment-based crowdfunding market. UK watchdog's earlier call for input raised a number of issues for…

December 08, 2016 BY Valentina Kirilova

FCA warns on clone firm of Kleinwort Benson Private Bank Limited

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Kleinwort Benson Private Bank Limited. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of…

December 01, 2016 BY Valentina Kirilova

FCA warns on clone firm of Algo Capitals

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Algo Capitals. Canada’s leading securities regulator, the Ontario Securities Commission (OSC), has already issued a warning against UK-based Algo Capitals Limited, operating as AlgoCapitals. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that…

Tag: Financial Conduct Authority