On 28 April 2016, the FCA published a press release announcing that a director of three debt management firms (Debts Reduced Ltd, Linked Finance Ltd and a firm set up in the director’s own name) has been sentenced at Cardiff Crown Court for fraud by abuse of position. Read FCA press release = http://bit.ly/1XXMBoG The court […]

The Financial Conduct Authority (FCA) has today published a Decision Notice in respect of Mr Arif Hussein, formerly a derivatives trader at UBS in London. This sets out the FCA’s finding that Mr Hussein is not a fit and proper person and its decision to prohibit him from any role in regulated financial services. Mr […]

This Consultation Paper includes proposed changes to the FCA’s Decision Procedure and Penalties Manual and Enforcement Guide. Why are we consulting on this? On 18 December 2014, HM Treasury published its ‘Review of enforcement decision-making at the financial services regulators’. The focus of the review was on the transparency, fairness, effectiveness and speed of the […]

The FCA has imposed a fine of £450,000 on Mr Timothy Alan Roberts, of Catalyst Investment Group Limited, for failure to comply with Statement of Principles 1 and 6 of the FCA’s Statements of Principle for Approved Persons and has made an order prohibiting Mr Roberts from performing any function in relation to any regulated […]

On 7 April 2016, an article on reuters.com reported that the FCA has written to around 20 banks and other financial institutions, giving them a deadline of 15 April 2016 to check whether they have any links to Mossack Fonseca, the firm at the centre of the leak of the so-called “Panama Papers”. http://reut.rs/22hDgZJ According […]

On 7 April 2016, the FCA published a report setting out the findings of a thematic review it has carried out into whether, and how, asset managers are meeting investors’ expectations (TR16/3). http://bit.ly/1UMZL9R The FCA announced the thematic review in its Business Plan for 2015/16 – The aim was determine whether UK authorised investment funds […]

Banks and financial firms have been told to hand over any information about their dealings with the law firm at the centre of the Panama Papers to the UK’s Financial Conduct Authority by a week on Friday. The City regulator had written to major financial firms on Monday, as the details of the accounts handled […]

The Business Plan outlines seven priority themes which will guide how the FCA will use its flexible resources and provide additional focus for the core activities of the organisation. The seven themes are: pensions, financial crime and anti-money laundering, wholesale financial markets, advice, innovation and technology, firms’ culture and governance, and the treatment of existing […]