Financial Conduct Authority (FCA) - News, Articles & Research

UK regulators publish AI report

The Bank of England and Financial Conduct Authority have concluded a year-long investigation into the role of data, model risk and governance in the use of AI in financial services.

18 February 2022

News/regulation

FCA concerned about Binance getting access to Faster Payments

The Financial Conduct Authority has expressed concern about a deal to give crytpo exchange Binance access to the the UK's Faster Payment Service, but says it has "limited powers" to object.

16 February 2022

News/regulation

UK Finance expresses fears over FCA Consumer Duty proposals

Banking industry body UK Finance has raised serious misgivings about the FCA's plans to impose a new 'Customer Duty' on financial firms with the intention of ensuring a more consistent standard of consumer protection for users of financial services.

16 February 2022

Company announcement/regulation

Xpress Money Services enters administration

On 11 February 2022, a special administration order was made by the Court in relation to Xpress Money Services Limited (Xpress) under the Payment and Electronic Money Institution Insolvency Regulations 2021.

14 February 2022

Company announcement/regulation

UK regulators review MoU on payment systems

The Bank of England (BoE), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Payment Systems Regulator (PSR) have a Memorandum of Understanding (MoU) that sets out the high-level framework the Authorities use to cooperate with one another, in relation to payment systems in the UK.

14 February 2022

News/regulation

BNPL firms ordered to refund charges to users following FCA crackdown

The Financial Conduct Authority is cracking down on potentially unfair and unclear terms in the contracts of Clearpay, Klarna, Laybuy and Openpay ahead up-and-coming regulation of the UK buy now, pay later market.

14 February 2022

News/regulation

Freetrade in the dock over misleading influencer promotions

The Financial Conduct Authority has ordered FreeTrade to take down all of its social media influencer posts over concerns that they could tempt vulnerable people into making unwise investments.

10 February 2022

Company announcement/people

UK names interim chairs of FCA and Payment Systems Regulator

HM Treasury has announced that they have started the search for the next Chair of the FCA. While the search for Charles Randell’s permanent successor concludes, Richard Lloyd OBE will act as interim chair of the FCA from 1 June 2022. Aidene Walsh will act as interim chair of the PSR from 1 April 2022.

04 February 2022

News/regulation

FCA staff vote in favour of industrial action

Financial Conduct Authority employees have voted in favour of industrial action over proposed cuts to pay and conditions.

02 February 2022

News/retail

Large bank market share falls as digital challengers step up

The UK's Financial Conduct Authority has found evidence of growing competition in financial services, driven in part by the pandemic and the rise of digital challenger banks.

20 January 2022

Company announcement/regulation

FCA to tighten rules on high risk investment promotions

The FCA is acting to address concerns about the ease and speed with which people can make high-risk investments by proposing a significant strengthening of its rules on how high-risk financial products are marketed.

19 January 2022

News/sustainable

City of London policy chair hails UK capital as a centre of green finance

This week, the FCA and the City of London Corporation held a demo day for its Sustainability Cohort initiative, which aims to further green the financial sector and catalyse the transition to net zero.

18 January 2022