This guidance follows the temporary measures that have been in place since May this year. The proposed guidance sets out how firms should provide tailored support to consumers who have already had a payment deferral and those newly in financial difficulty due to changed circumstances relating to coronavirus. For insurance arrangements, this includes measures […]
FCA News
FCA proposes additional measures to help insurance customers in financial difficulty because of coronavirus
This guidance follows the temporary measures that have been in place since May this year. The proposed guidance sets out how firms should provide tailored support to consumers who have already had a payment deferral and those newly in financial difficulty due to changed circumstances relating to coronavirus. For insurance arrangements, this includes measures […]
FCA regulation of consumer credit – during the pandemic and beyond
Speaker: Nisha Arora, Director of Consumer and Retail PolicyEvent: Delivered online at the Financial Leasing Association Annual Regulation Conference Delivered: 13 October Note: This is a drafted speech and may differ from the delivered version Highlights Whilst the range of firms, consumers and uses of credit varies widely, across the board we want credit markets to achieve […]
East West Insurance Company Limited enters administration
East West Insurance Company Limited (East West) is an insurance firm authorised and regulated in the UK by the PRA and the FCA. On 12 October 2020, following application to the High Court of Justice, East West was placed into administration. The firm has ceased writing any new insurance, and has been focused on claims management […]
Market abuse in a time of Coronavirus
Speaker: Julia Hoggett, Director of Market OversightEvent: City Financial Global eventDelivered: 12 October 2020Note: this is the speech as drafted and may differ from the delivered version Highlights It is hugely important to us that we have the opportunity to give these speeches as they support all market participants to play their part in ensuring our markets […]
FCA bans IFA directors who provided false and misleading SIPP declarations
Mr Howson and Mr Butterfield, who were both directors of the now-liquidated Vanguard Wealth Management Limited (Vanguard), submitted the information to self-invested personal pension (SIPP) provider, James Hay, which had no knowledge of their actions. Vanguard Wealth Management Limited has no connection to the Vanguard Group. FCA Executive Director of Enforcement and Market Oversight, Mark […]
German Property Group (GPG) companies enter preliminary bankruptcy proceedings
A number of companies in the overseas investment scheme, German Property Group (GPG), have recently entered preliminary bankruptcy proceedings in Germany. This means that any money you might have invested in this scheme is at risk and you need to take action now to help recover this. The GPG companies are incorporated in Germany and […]
FCA, FSCS and the Ombudsman service publish joint statement on German Property Group (also known as Dolphin Capital/Dolphin Trust/Red Rock), together referred to as GPG
A number of companies in the overseas investment scheme, German Property Group (GPG), have recently entered preliminary bankruptcy proceedings in Germany. This means that any money you might have invested in this scheme is at risk and you need to take action now to help recover this. The GPG companies are incorporated in Germany and […]
FCA, FSCS and FOS publish joint statement on German Property Group (also known as Dolphin Capital/Dolphin Trust/Red Rock), together referred to as GPG
A number of companies in the overseas investment scheme, German Property Group (GPG), have recently entered preliminary bankruptcy proceedings in Germany. This means that any money you might have invested in this scheme is at risk and you need to take action now to help recover this. The GPG companies are incorporated in Germany and […]
FCA bans the sale of crypto-derivatives to retail consumers
The FCA considers these products to be ill-suited for retail consumers due to the harm they pose. These products cannot be reliably valued by retail consumers because of the: inherent nature of the underlying assets, which means they have no reliable basis for valuation prevalence of market abuse and financial crime in the secondary market (eg cyber […]