Tag: UK financial regulation

April 26, 2016 BY Maria Nikolova

FSCS sets levy for 2016/17 at £337 million

The Financial Services Compensation Scheme (FSCS), the UK's statutory compensation scheme for customers of authorised financial services firms, has announced its levy for 2016/17. FSCS, which is well known to former customers of Alpari (UK) Limited and LQD Markets UK, which fell victims of the Swiss franc spike on January 15, 2015, will levy £337 million…

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April 19, 2016 BY Maria Nikolova

FCA aims to launch redesigned website in June

Having a stable website with good design is crucial for any business and institution nowadays – that is an obvious statement to make, especially in the FX industry where IT issues make the difference between “make it” and “break it”. This must be the main idea for the UK Financial Conduct Authority (FCA), which is…

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February 26, 2016 BY Maria Nikolova

UK payments regulator PSR wants banks out of VocaLink payments system

The UK Payment Systems Regulator (PSR) has on Thursday published the provisional findings of its market review into the ownership and competitiveness of the infrastructure that supports the payments systems; Bacs, Faster Payments System (FPS) and LINK. The above-mentioned payment systems are currently owned by a relatively small number of banks, which also control the…

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February 03, 2016 BY Maria Nikolova

UK FCA reviews 1,108 financial promotions in Q3 2015

The UK Financial Conduct Authority (FCA) has just published its latest Data Bulletin, which includes information about the activities of the regulator regarding financial promotions. The most recent numbers show that the FCA reviewed 1,108 financial promotions in the third quarter of 2015, that is, from July 1st to September 30th last year. Out of…

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January 26, 2016 BY Maria Nikolova

Andrew Bailey becomes new Chief Exec of UK FCA

Andrew Bailey, the Chief Executive Officer of the UK Prudential Regulation Authority, will take the helm of the Financial Conduct Authority (FCA). HM Treasury have today announced his appointment as the new CEO of the FCA. Mr Bailey will assume his new role once his successor at the Prudential Regulation Authority (PRA) has been found.…

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January 11, 2016 BY Maria Nikolova

UK competition regulator fast-tracks Ladbrokes/Coral merger to phase 2 investigation

The UK Competition and Markets Authority (CMA) today referred the proposed merger of gaming and betting provider Ladbrokes PLC (LON:LAD) and certain businesses of Gala Coral Group Limited, including Coral Retail, Eurobet Retail and Gala Coral’s online businesses for an in-depth phase 2 investigation. The CMA started its phase 1 investigation on December 16, 2015 and…

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January 07, 2016 BY Maria Nikolova

Tracey McDermott withdraws from race for FCA's chief exec position

The UK Financial Conduct Authority (FCA) today issued a special statement, confirming that Acting Chief Executive Tracey McDermott has decided to leave the process to appoint the permanent Chief Executive of the FCA. The Treasury-led recruitment process is still open, with Ms McDermott set to continue as Acting Chief Executive until a permanent replacement is…

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December 16, 2015 BY Maria Nikolova

Ladbrokes, Coral Group seek to fast track regulatory approval of merger

The UK Competition and Markets Authority (CMA) today announced an invitation to comment on the proposed merger of gaming and betting provider Ladbrokes PLC (LON:LAD) and certain businesses of Gala Coral Group Limited, including Coral Retail, Eurobet Retail and Gala Coral’s online businesses. As usual, the CMA is considering whether this transaction will result in the…

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