‘The big claims management companies (CMCs) will be hit hardest by fee increases planned by the Financial Conduct Authority (FCA) to fund the £17m cost of their new regulatory regime, it has emerged.’
Legal Futures, 23rd August 2018
Source: www.legalfutures.co.uk
‘Rules requiring banks to publically disclose how often they have had to report major operational and security incidents have taken effect in the UK.’
OUT-LAW.com, 22nd August 2018
Source: www.out-law.com
‘The UK’s accountancy regulator, the Financial Reporting Council (FRC) has fined KPMG £2.1 million after an investigation into audits of fashion company Ted Baker.’
OUT-LAW.com, 20th August 2018
Source: www.out-law.com
‘BHS’s accounts were misleading and featured unrealistic forecasts before Sir Philip Green sold the now collapsed department store chain, according to a report into the role of the retailer’s auditor, PwC.’
The Guardian, 15th August 2018
Source: www.theguardian.com
‘UK banks will be given some flexibility when deciding how best to ensure that they can continue to serve customers in the EU after Brexit, the Financial Conduct Authority (FCA) has said.’
OUT-LAW.com, 13th August 2018
Source: www.out-law.com
‘The largest loan-based crowdfunding platforms operating in the UK could be required to establish “an independent compliance function” and “independent risk and internal audit functions”, according to new rules proposed by the Financial Conduct Authority (FCA).’
OUT-LAW.com, 31st July 2018
Source: www.out-law.com
‘Banks could be forced to pay savers a minimum interest rate after City regulators found that longstanding customers in instant access accounts are paid derisory rates because of their apathy about switching providers.’
The Guardian, 25th July 2018
Source: www.theguardian.com
‘The FCA is seeking views on whether there is a need for a new customer “duty of care” or “fiduciary duty”, or whether the existing rules already provide sufficient protections for consumers. It is also seeking views on a new right for consumers to seek private damages against firms which have breached the new duty or the regulatory principles set out in the FCA Handbook, particularly the requirement to “treat customers fairly”.’
OUT-LAW.com, 23rd July 2018
Source: www.out-law.com
‘A judge’s sharp criticism of the Financial Conduct Authority for its failure to go after top bankers has put a cat right into the middle of the City regulator’s pigeons.’
The Independent, 21st June 2018
Source: www.independent.co.uk
‘The Financial Conduct Authority (FCA) has set out the more stringent regime it intends to apply to claims management companies (CMCs) when it takes over their regulation on 1 April 2019.’
Legal Futures, 6th June 2018
Source: www.legalfutures.co.uk
‘A computer failure at TSB that caused up to 1.9 million people to lose access to online banking services is being investigated by the financial regulator.’
BBC news, 6th June 2018
Source: www.bbc.co.uk
‘The rent-to-own sector faces a price cap similar to limits on payday loans, but the financial regulator will not rush to impose the same restrictions on overdrafts.’
BBC News, 31st May 2018
Source: www.bbc.co.uk
‘City firms have launched a review into dispute resolution for companies wronged by banks, in the wake of the scandal over RBS’s mistreatment of small businesses. UK Finance, the lobby group for 300 British finance companies, has commissioned an independent study to analyse how complaints and disputes can be resolved in a more time and cost effective manner.’
Daily Telegraph, 29th April 2018
Source: www.telegraph.co.uk
‘Former BHS owner Dominic Chappell will be banned from serving as company director for up to 15 years over his role in the the high street chain’s collapse, while its previous owner Sir Philip Green will escape any sanction. The Insolvency Service said that the retail mogul Sir Philip, who sold BHS to thrice bankrupt Mr Chappell little over a year before its demise for £1, will not face further action.’
Daily Telegraph, 27th March 2018
Source: www.telegraph.co.uk
‘The City watchdog has announced measures to deal with an “erupting pensions mis-selling scandal”, but MPs say the plans do not go far enough to protect people’s savings.’
The Independent, 26th March 2018
Source: www.independent.co.uk
‘Speech by Sir Geoffrey Vos, Chancellor of the High Court: Integrity and independence in the judiciary and the financial services industry – a comparative study.’
Courts & Tribunals Judiciary, 21st March 2018
Source: www.judiciary.gov.uk
‘People who borrow money from doorstep lenders should get the same protection as those with payday loans, a charity has argued.’
BBC News, 19th March 2018
Source: www.bbc.co.uk
‘The Court of Appeal confirms the restrictive approach to third party rights under FCA Notices adopted by the Supreme Court in Macris v FCA [2017] UKSC 19.’
4 New Square, 6th February 2018
Source: www.4newsquare.com
‘Civil justice is readily available to the international super-rich but out of reach of most British citizens, according to a top City watchdog. But John Griffith-Jones, chairman of the Financial Conduct Authority, believes it is the job of parliament to boost consumer redress by changing the law, rather than simply tinkering with the regulator’s rulebook.’
Law Society's Gazette, 14th March 2018
Source: www.lawgazette.co.uk
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