Financial Conduct Authority (FCA)

713 results about this entity

Period: 02 Sep 2004 - 14 Aug 2024

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Merrill slapped with record fine for repeated transaction reporting failures

Merrill slapped with record fine for repeated transaction reporting failures

The Financial Conduct Authority has fined Merrill Lynch a record £13.3 million for repeated breaches of transaction reporting rules.

BNY Mellon fined £126 million for FCA over Cass compliance failings

BNY Mellon (NYSE: BK) today issued the following statement regarding the findings of a U.K. Financial Conduct Authority ("FCA") investigation into compliance with relevant FCA Principles and U.K. Client Asset Sourcebook ("CASS") rules during the period from November 2007 to August 2013:

FCA fines Clydesdale £20 million for PPI complaints mishandling

The Financial Conduct Authority (FCA) has today fined Clydesdale Bank Plc (Clydesdale) £20,678,300 for serious failings in its Payment Protection Insurance (PPI) complaint handling processes between May 2011 and July 2013.

Lack of awareness and confidence hampering UK account switching service

Lack of awareness and confidence hampering UK account switching service

The UK's current account switching service (Cass) has failed to produce a significant increase in the number of people moving banks, according to the Financial Conduct Authority (FCA), which says that a move to full account number portability could prove a more effective approach.

P2P lender RateSetter hires former FSA man Simon Pearse as head of compliance

The UK’s leading peer-to-peer (P2P) lender RateSetter has hired Simon Pearse to join the Company in a new role as Head of Compliance.

FCA to probe investment and corporate banking competition

FCA to probe investment and corporate banking competition

The Financial Conduct Authority (FCA) is to launch its first wholesale market study into investment and corporate banking to assess whether competition in the sector is working properly.

UK watchdog agrees compensation package for consumer's mis-sold card security packages

The Financial Conduct Authority (FCA) has reached an agreement with Affinion International Limited (“Affinion”) and 11 high street banks and credit card issuers, following voluntary negotiations, that will pave the way for customers to claim compensation if they have concerns about the way that card security products with the following product names were sold to them:

FCA bids to boost transparency in cash savings market

FCA bids to boost transparency in cash savings market

The Financial Conduct Authority is proposing a shake up of the £700 billion cash savings market after research showed that UK consumers are getting a raw deal from financial services firms.

FCA restructures to deal with new regulatory challenges

The Financial Conduct Authority today set out details of how it intends to meet the regulatory challenges ahead following a detailed review of its strategy, priorities and ways of working.

RBS and Ulster Bank hit with £56 million fine over IT meltdown

RBS and Ulster Bank hit with £56 million fine over IT meltdown

The Royal Bank of Scotland and its subsidiary Ulster Bank have been hit with a £56 million fine by regulatory authorities over a computer malfunction in 2012 that locked customers out of accounts and knocked out payments processing systems.

FCA fines five banks £1.1 billion for FX failings and announces industry-wide remediation programme

The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ($343 million), JPMorgan Chase Bank N.A. £222,166,000 ($352 million), The Royal Bank of Scotland Plc £217,000,000 ($344 million) and UBS AG £233,814,000 ($371 million) (‘the Banks’).

FCA confirms price cap rules for payday lenders

People using payday lenders and other providers of high-cost short-term credit will see the cost of borrowing fall and will never have to pay back more than double what they originally borrowed, the Financial Conduct Authority (FCA) confirmed today.

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