Following a hearing at Southwark Crown Court, Guy Flintham, 46, was today sentenced to 6 years for fraud. On 19 February 2024, Mr Flintham pleaded guilty to fraud by false representation, following a prosecution brought by the FCA. Between January 2016 and November 2021, Mr Flintham, based in Blackburn, Lancashire, defrauded more than 240 investors […]

The FCA has recovered funds from an unauthorised deposit-taking scheme operated by Bright Managment Solution Limited [sic] and others. Investors will receive money back totalling £533,000 after the High Court granted a distribution order to the FCA. The FCA recovered the money from Bright, Soccer League International Limited, and three individual defendants, Mohammed Zakir Hussain, […]

Speech by Sarah Pritchard, Executive Director, Markets and Executive Director, Internationalat TheCityUK International Conference 2024. Speaker: Sarah Pritchard, Executive Director, Markets and Executive Director, International Event: TheCityUK International Conference 2024 Delivered:18 April 2024 Note: This is the speech as drafted and may differ from the delivered version Highlights We want to strike a balance between […]

We have cancelled the permissions of KBFS Financial Limited (KBFS), preventing them from providing any financial services. KBFS failed to engage with us in an open and cooperative way. KBFS also failed to pay redress awarded to former members of the British Steel Pension Scheme (BSPS) by the Financial Ombudsman Service. Our final decision notice […]

We've been investigating a number of complaints, under our complaints scheme, about our actions or inactions in relation to the British Steel Pension Scheme (BSPS). Members of the BSPS worked hard during their employment and have experienced significant worry regarding their financial security in retirement. We found that many BSPS members suffered financial loss after […]

The Financial Conduct Authority (FCA) is looking for expressions of interest from market participants to join our advisory committee. The committee was established in 2022 and we are renewing the membership in line with our terms of reference. The purpose of the committee is to support our work in wholesale secondary markets for equities, derivatives, […]

In a speech delivered today, the FCA's Chief Executive Nikhil Rathi announced the regulator's plans to examine how Big Tech firms’ unique access to large sets of data could unlock better products, more competitive prices and wider choice for consumers and businesses. The speech at a Digital Regulation Cooperation Forum (DRCF) event outlined Nikhil Rathi’s […]

Speech by Nikhil Rathi, FCA Chief Executive delivered at the Digital Regulation Cooperation Forum (DRCF). Speaker: Nikhil Rathi, Chief Executive Event: Digital Regulation Cooperation Forum (DRCF) Delivered: 22 April 2024 Note: This is a drafted speech and may differ from the delivered version Key points: Leading a co-ordinated and effective effort to make the most […]

Ahead of the anti-greenwashing rule coming into force on 31 May, the FCA is supporting industry with guidance to help them meet the standard. The new rule is designed to protect consumers by ensuring sustainable products and services they are sold are accurately described. Results from the latest Financial Lives surveyshows significant consumer interest in […]

The Financial Conduct Authority (FCA) has launched criminal proceedings against Lee Steven Maggs of Sittingbourne, Kent, for 2 counts of fraud and 1 count of breaching the Financial Services and Markets Act 2000 (FSMA). Mr Maggs is alleged to have operated an unauthorised investment scheme called 'Kube Trading' which received around £2.67m from investors between […]

One in six women in the UK has experienced financial abuse in a current or former relationship. Although it is not only women who are affected, over 9 million people, as many as the population of London, have been subject to control, exploitation or sabotage of their money and finances by an intimate partner. It […]

Take care if you get an unexpected call about your funeral plan, we’re warning consumers. It may be a scam. Don’t engage if you get any unexpected calls from your funeral plan provider asking you to transfer money to top up your funeral plan due to the recent issue at Legacy Independent Funeral Directors. This […]

The former CEO of Shard Capital Partners has been fined £120,300 and banned by the Financial Conduct Authority (FCA). James Lewis, the former CEO of Shard Capital Partners, has been fined £120,300 and banned by the FCA following two separate instances of providing incorrect information about clients’ cash purportedly held by Shard. Mr Lewis’ misconduct […]

Speech by Emily Shepperd, FCA Chief Operating Officer delivered at the Building Societies Annual Conference. Speaker: Emily Shepperd, FCA Chief Operating Officer Event:The Building Societies Annual Conference Delivered: 9 May 2024 Note: This is the published version of the speech which may differ to that delivered Highlights Building societies have been a force for good, […]

Taheer Sardar has today been sentenced to 18 months’ imprisonment for perverting the course of justice at Southwark Crown Court. Mr Sardar pleaded guilty on 7 May 2024. Mr Sardar was interviewed by the FCA as part of an investigation it was conducting into a sophisticated boiler room scam that had defrauded 120 investors of […]

Following a sentencing hearing at Southwark Crown Court, Stuart Bayes, 58, was today sentenced to 18 months’ imprisonment, suspended for 2 years, after being convicted of 2 counts of insider dealing. He was also given a Rehabilitation Activity Requirement of 35 days and ordered to carry out 150 hours of unpaid work. On 28 March […]

The FCA has charged 3 individuals with fraud for their alleged involvement in a high-risk trading scheme, which targeted people’s pension savings. Kristofer McGuire, Keith Williamson and Karla Walker have been charged with multiple offences, including fraud by false representation and fraudulent trading, after they targeted victims by persuading them to invest in contracts for […]

Speech by Emily Shepperd, FCA Chief Operating Officer delivered at the British Insurance Brokers' Association (BIBA) conference. Speaker: Emily Shepperd, FCA Chief Operating Officer Event:BIBA Conference 2024 Date:16 May 2024 Note:This is a drafted speech and may differ from the delivered version Key points Brokers have the opportunity to wield power responsibly and play a […]

The FCA has brought charges against nine individuals in relation to an unauthorised foreign exchange trading scheme promoted on social media. Emmanuel Nwanze has been charged with running an unauthorised investment scheme and issuing unauthorised financial promotions. The FCA alleges that, between 19 May 2018 and 13 April 2021, Mr Nwanze and Holly Thompson used […]

Speech by Sheree Howard, Executive Director, Authorisations. Speaker:Sheree Howard, Executive Director, Authorisations Event:PIMFA Women’s symposium conference Delivered: 16 April 2024 Note: This is the speech as drafted and may differ from the delivered version Highlights Our latest Financial Lives Survey finds more women than men are struggling to cope financially. To attract and retain women […]