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FCA confirms how it will use new power to publicise warning notices
The Financial Conduct Authority (FCA) today confirmed how it will use its new power to publicise warning notices by publishing information about proposed enforcement action. ... Director of enforcement, Tracey McDermott said:. "We listened carefully to -
Wealth Management Association (formerly APCIMS) speech
Speech by FCA Chairman, John Griffith-Jones, delivered to the Wealth Management Association in London. This is the text of the speech as drafted, which may differ from the delivered version. -
Clydesdale Bank fined £8.9 million for failing to treat its mortgage customers fairly
Tracey McDermott, the FCA’s director of enforcement and financial crime said of the fine:. ... Clydesdale also received a 30% discount for settling at an early stage of the enforcement process. -
ICAP Europe Limited fined £14 million for significant failings in relation to LIBOR
system. Tracey McDermott, director of enforcement and financial crime, said:. "The misconduct in relation to LIBOR has cast a shadow over the financial services industry. ... out the new rules and regulations for financial benchmarks, following on from -
FCA review of medium-sized firms’ PPI complaints handling finds significant room for improvement
One medium sized firm has already been referred to Enforcement as a result of our action and the FCA is considering whether a number of others should also face further action. ... The FCA asked each firm to provide a sample of 50 PPI complaints (40 -
Future into focus
Speech by Martin Wheatley, Chief Executive, the FCA, at the International Swaps and Derivatives Association (ISDA) conference, London. This is the text of the speech as drafted, which may differ from the delivered version. -
AXA fined and reviews investment sales for advice failings
The Financial Conduct Authority (FCA) has fined AXA Wealth Services Ltd (AXA) £1,802,200 for failing to ensure it gave suitable investment advice to its customers. -
Aberdeen Asset Managers and Aberdeen Fund Management fined £7.2 million for failing to protect client money
The Financial Conduct Authority (FCA) has fined Aberdeen Asset Managers Limited and Aberdeen Fund Management Limited (Aberdeen) £7,192,500 for failing to identify, and therefore properly protect, client money placed in Money Market Deposits (MMDs) -
Redress package agreed for consumers mis-sold CPP insurance products
The Financial Conduct Authority has reached an agreement with Card Protection Plan Limited (CPP) and 13 high street banks and credit card issuers that will pave the way for redress to be paid to customers who were mis-sold CPP’s Card Protection -
Financial Conduct Authority appoints four new supervision directors
The Financial Conduct Authority (FCA) has appointed four directors to lead key areas of its Supervision division. These appointments complete the senior structure in Supervision, and are the final step in implementing a new structure for the division