Mae'r Awdurdod Ymddygiad Ariannol (FCA) wedi cynnig rheolau newydd i gynnal mynediad rhesymol i arian parod ar gyfer cwsmeriaid personol a busnes ledled y DU. Mae hyn yn dilyn pwerau newydd a roddwyd i'r FCA gan Ddeddf Gwasanaethau a Marchnadoedd Ariannol 2023. O dan gynigion yr FCA, bydd angen i fanciau a chymdeithasau adeiladu dynodedig […]

The Financial Conduct Authority (FCA) has today imposed fines on three money transfer firms after they admitted to fixing prices charged to consumers in Glasgow. Dollar East (International Travel & Money Transfer) Ltd; Hafiz Bros Travel & Money Transfer Limited; and LCC Trans-Sending Limited (including its parent company, Small World Financial Services Group Limited), trading […]

Prior to the UK leaving the EU, EEA-based firms were able to operate in the UK without our direct authorisation. The Temporary Permissions Regime, which allowed EEA firms to continue to operate in the UK while transitioning to the full UK regulatory regime, is coming to an end after 3 years. We are assessing the […]

Speech by Emily Shepperd, Chief Operating Officer and Executive Director of Authorisations at City & Financial's Culture and Conduct Forum. Speaker: Emily Shepperd, Chief Operating Officer and Executive Director of Authorisations Event:City & Financial's Culture and Conduct Forum Delivered: 23 November 2023 Note: This is the published version of the speech which may differ to […]

We have today published the final report on our multi-firm review into firms’ progress in implementing the internal capital adequacy and risk assessment (ICARA) process and reporting requirements under the Investment Firms Prudential Regime (IFPR). This final report must be read together with the report on our initial observations published in February 2023. The IFPR […]

The Financial Conduct Authority (FCA) has banned Nigel Lewis and Susan Jones of West Wales Financial Services Limited (in liquidation) (WWFS) from advising customers on pension transfers and pension opt outs. Mr Lewis has also been banned from holding any senior management functions in a regulated firm. Mr Lewis and Ms Jones will also pay […]

The FCA has confirmed a substantial package of measures to improve the trust and transparency of sustainable investment products and minimise greenwashing. With an estimated $18.4 trillion of ESG-orientated assets now being managed globally, the FCA is putting in place new Sustainability Disclosure Requirements and an investment labels regime after detailed engagement with a range […]

There has been commentary over the weekend about the redress scheme for people who invested in the Woodford fund. It is vital that as people vote they receive accurate information. This scheme represents the best way for most people to get money back. Any other routes are highly uncertain, would take much longer and be […]

The FCA has announced today proposals to require personal investment firms to set aside capital so that they can cover compensation costs and ensuring the polluter pays when consumers are harmed. The proposals would require personal investment firms – often referred to as investment advisers — to calculate their potential redress liabilities at an early […]

On 29 November 2023, Rational Foreign Exchange Limited (RFX) entered special administration under the Payment and Electronic Money Institution Insolvency Regulations 2021. Ed Boyle and Kristina Kicks of Interpath Ltd have been appointed joint special administrators (JSAs). RFX provides foreign exchange and payment services to corporate and retail clients. It is authorised by the FCA […]

More people could access advice or support to help make their money work harder under proposals set out today by the Financial Conduct Authority (FCA) and the Government. The potential options aim to help more people benefit from investment opportunities, provide for later life, save for major expenses or tidy up their finances. The FCA […]

We have today set out temporary measures to give investment companies greater ability to explain their costs and charges to help consumers make better informed investment decisions. We are taking steps to address concerns that current disclosure obligations are producing unhelpful cost information for consumers. To support better cost disclosure, we will allow funds to […]

This statement relates to concerns raised about costs and charges disclosure in the PRIIPs Key Information Document (KID), the UCITS Key Investor Information Document (KIID) and MiFID II requirements.It sets out our interim measure, pending broader reform possible through legislative change, to provide for some disaggregation of costs and charges disclosure.These actions should give investment […]

In preparation for the new Overseas Funds Regime (OFR), the Financial Conduct Authority (FCA) has set out its proposals for how the regime should operate. The OFR has been designed by Parliament to provide a streamlined process that allows non-UK domiciled funds to market to UK retail customers where the government has found a jurisdiction […]

People will find their credit files better reflect their financial circumstances, under proposals announced by the Financial Conduct Authority (FCA). The change is one of a range of measures to improve the quality of the information collated by credit reference agencies (CRAs), which is used to inform lending decisions, and boost competition in the market. […]

The FCA is warning of the risk of loan fee fraud as almost two-thirds of parents feel pressured to spend above their means at Christmas. 40% of UK adults are concerned about being able to afford Christmas spending this year, rising to half of parents (52%) with young children under the age of 18. Over […]

We have published a data update on the cash savings market. We have seen some indications of a more competitive cash savings market emerging, with higher rates being paid to savers and data indicating people are moving their money to take advantage of them. From July 2023 to October 2023, both the volume of deposits […]

The FCA has written to the Treasury Committee about its decision not to take enforcement action following investigations into NCM Fund Services Ltd and Northern Provident Investments Ltd, the two organisations that approved the financial promotions of Blackmore’s mini-bonds. A copy of our letter has been published by the Treasury Committee.

The FCA has proposed new rules to maintain reasonable access to cash for personal and business customers across the UK. This follows new powers granted to the FCA by the Financial Services and Markets Act 2023. Under the FCA’s proposals, designated banks and building societies will need to assess gaps in access to cash. These […]

All pension savers need to be confident that their scheme delivers value regardless of where they’re invested. We know that short term cost can dominate decision making in the context of defined contribution (DC) schemes, and whilst cost matters investment choices also significantly impact consumer outcomes. In spring 2024 the FCA will consult on detailed […]