FCA News

Finding opportunity in a world of uncertainty

Speaker: Sarah Pritchard, Executive Director, MarketsEvent: CityUK Annual Conference at The QEII Centre, WestminsterDelivered: 30 June 2022Note: This is a drafted speech and may differ from the delivered version Highlights Underpinning every action we take, are our three core aims: reducing and preventing serious harm, setting and testing higher standards and promoting competition and positive […]

FCA News

FCA resolves High Court proceedings in relation to unauthorised deposit taking

The FCA began court proceedings in December 2019 against Bright Management and six defendants for taking money from the public for different projects, including forex and crypto-asset trading, without the required FCA authorisation. The FCA also alleged misleading statements and marketing about the nature of the investments Bright Management was offering. The FCA sought orders […]

FCA News

Restrictions placed on Colbourne & Company

On 23 June 2022 the FCA imposed a number of restrictions on Colbourne & Company stopping it from carrying out any regulated activities due to concerns about the way it conducts its business. We consider that Colbourne & Company, a small IFA, has for a number of years been carrying out regulated activities outside it’s […]

FCA News

FCA fines Ghana International Bank Plc £5.8m for failings in its anti-money laundering controls

GIB provided correspondent banking services to overseas banks. This allowed them to provide products and services they would not otherwise be able to, including making payments in different currencies and across borders. The FCA requires banks to do extra checks on their correspondent banking customers to reduce the higher risk of money laundering and terrorist […]

FCA News

Shaping the rules for a data-driven future

Speaker: Nikhil Rathi, Chief ExecutiveEvent: AFM 20th anniversary seminarDelivered: 16 June 2022Note: this is the speech as drafted and may differ from the delivered version Highlights The value of consumer data has soared and we often trade privacy for expediency.  We have had constructive engagement with Google on promotional adverts of non-regulated firms and more recently with Twitter and […]