10/21/2016
FCA orders lenders to refund overcharged mortgage arrears customers
The automatic inclusion of arrears balances in customers’ mortgage payments lacks transparency and can lead to harm.
Legal, Regulation & Compliance
10/21/2016
Updates from Britain's biggest banks expected to reveal further PPI scandal hit
Britain's biggest banks are expected to reveal another mammoth hit from the payment protection insurance scandal in next week's third quarter updates.
10/21/2016
CMA update on retail banking market investigation - Herbert Smith Freehills
The Competition and Markets Authority (CMA) has published new documents on the retail banking market investigation
10/21/2016
Tribunal backs FCA over fund manager ban
The Tribunal’s decision was issued following a hearing in September 2016.
10/20/2016
Britain plays key role in ‘allowing corrupt money to flow globally’
It urged the government to do more to combat the lack of transparency in its overseas territories else it risks hampering global anti-corruption efforts.
10/20/2016
Ingenious wins Supreme Court battle against HMRC
The highest court in the land today, however, ruled that the Revenue had breached its duty of confidentiality.
10/20/2016
Industry-agreed disclosure code needed to protect consumers and social media influencers - PRII
It was recently confirmed by the Minister for Jobs, Enterprise and Innovation that this applies to social media influencers as much as it does to the traditional media.
10/20/2016
New rules on packaged bank accounts have improved standards
The Financial Conduct Authority (FCA) has today published findings from its thematic review of packaged bank accounts.
10/19/2016
Crunch looms on QE as European Central Bank meets
Up to now, the ECB has been able to sidestep the controversy.
10/19/2016
FCA wants to ban restrictive investment banking contracts
The FTSE 250 and AIM markets, to feel that they need to reward a lending bank or corporate broker.
10/19/2016
Treasury committee pushes FCA to release RBS report
The FCA’s report was initially expected to be published at the end of 2015.
10/19/2016
Culture in UK banking – regulatory priorities by FCA Chief Economist, Peter Andrews
In a speech to the Westminster Business Forum, FCA Chief Economist, Peter Andrews, looks at how regulators might improve conduct in banking and disputes the unflattering assessment of finance made by second US President, John Adams.
10/19/2016
FCA publishes the final report of its investment and corporate banking market study
The FCA has today published the final findings of its investment and corporate banking market study and set out a targeted package of remedies to ensure effective competition in the market.
10/19/2016
CS Healthcare's Parker says new FCA general insurance rules (PS16-21) will cost consumers encouraged to shop around for Private Medical Insurance
The new rules, which encourage clients to shop around when their insurance policy is due for renewal, have caused widespread alarm amongst the broker community, with many calling upon the FCA for the Private Medical Insurance (‘PMI’) industry
10/19/2016
UK regulator approves Singapore Exchange's takeover of London's Baltic Exchange
FCA has approved Singapore Exchange's 87 million pound takeover of London's Baltic Exchange
10/19/2016
Lloyds Regulatory Official Sues Bank Over Whistle-Blowing Claims
Lloyds Banking Group Plc former head of regulation sued the lender over claims he was pushed out for blowing the whistle on corporate misconduct
10/18/2016
FCA asks Standard Life to review non-advised annuity sales
These firms are now being asked by the FCA to review all non-advised sales from July 2008 and, where appropriate, provide redress.
10/18/2016
Standard Life told by watchdog to review annuity sales
The FCA did not disclose which insurers had taken part in its industrywide review.
10/18/2016
How EU fund rules leave gaps in investor protection
That structure meant the fund generated 34.7 million euros in performance fees for Mediolanum in 2015.
10/18/2016
ECB’s QE programme strains eurozone repo market
Short-term borrowing costs often swing sharply at the end of a quarter