Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm. This is what we call a ‘clone firm’; and fraudsters usually […]
FCA News
New rules for claims management companies to boost consumer protection and professionalism
From next April, all CMCs set up or serving customers in England, Scotland and Wales will have to be authorised by the FCA to continue operating legally. To be authorised by the FCA they must demonstrate they meet minimum standards to operate. Any firm that isn’t authorised will have to stop handling claims. In PS18/23: […]
FCA introduces new rules on handling complaints about Authorised Push Payment fraud
In the case of APP fraud, the PSP is often a bank which holds the accounts of either the victim or fraudster. Currently, the sending PSP, but not the receiving PSP, must handle these complaints in line with existing complaints handling rules in the FCA Handbook. These obligations have now been extended to the receiving […]
FCA and PSR Boards appoint new members to decision-making committees
The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) Boards have appointed new members to three decision-making committees: the FCA’s Competition Decisions Committee (CDC) and the PSR’s Competition Decisions Committee and Enforcement Decisions Committee (EDC). These three committees are responsible for taking certain competition law and regulatory decisions when a settlement cannot be reached. […]
FCA bans Angela Burns from acting as a non-executive director and fines her for her failure to declare conflicts of interest
Angela Burns is an experienced UK investment professional and the chief executive of her own investment consultancy. From January 2009 until May 2011, Ms Burns was a NED at two mutual societies and served as the chair of their investment committees. Both mutual societies were seeking investment manager services and looked to Ms Burns for her […]
Statement on London Capital & Finance plc
[unable to retrieve full-text content]Original Article Here
Regulation round-up December 2018
December 2018 Quick Links Introduction: Christopher Woolard, Executive Director of Strategy and Competition We recently set out our proposals for a price cap on the rent-to-own (RTO) sector – these are now open for consultation. Through this work, we’re aiming to protect some of the most financially vulnerable people in the UK – saving them up […]
Insight Managed Funds (clone of FCA authorised firm)
Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm. This is what we call a ‘clone firm’; and fraudsters usually […]
FCA seeks re-trial in insider dealing case
[unable to retrieve full-text content]Original Article Here
Update on preparing your firm for Brexit
We expect that, by now, firms have considered the issues that we have previously highlighted. We have updated our webpage on preparing your firm for Brexit to follow up on some key areas: contract continuity – we remind firms which do business in the EEA under a passport that they need to consider how they […]