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Over £27 million reported lost to crypto and forex investment scams
The Financial Conduct Authority (FCA) and Action Fraud are warning the public to be wary of investment scams carried out via bogus online trading platforms. This warning comes as cryptoassests and forex investment scams reports more than tripled -
FS20/13: Coronavirus and customers in temporary financial difficulty: feedback on draft updated guidance for insurance and premium finance firms
We summarise the feedback we received on our proposed measures for insurance and premium finance firms, and our response. -
FCA and PRA jointly fine Raphaels Bank £1.89m for outsourcing failings
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have fined R. Raphael & Sons plc (“Raphaels”) for failing to manage its outsourcing arrangements properly between April 2014 and December 2016. -
FCA joins forces with global regulators to foster digital innovation with Project Guardian
The FCA joins MAS, Singapore’s central bank, the Financial Services Agency of Japan (FSA), and the Swiss Financial Market Supervisory Authority (FINMA) as part of Project Guardian. -
FCA opens a discussion on introducing a basic savings rate in the cash savings market
The Financial Conduct Authority (FCA) has today published a Discussion Paper on price discrimination in the cash savings market. -
Lloyds Banking Group fined £4.3 million for delayed PPI redress payments
The Financial Services Authority (FSA) has fined three Lloyds Banking Group firms a total of £4,315,000 for failings in their systems and controls that resulted in up to 140,000 customers receiving delayed payment protection insurance (PPI) redress. -
FCA review finds that most mortgage customers get suitable advice but “scope for improvement”
FCA review finds that most mortgage customers get suitable advice but “scope for improvement”. ... There was no evidence of systemic customer detriment. Some firms were failing to take reasonable steps to obtain sufficient, relevant information about -
TR15/6: Handling of insurance claims for Small and Medium-sized Enterprises (SMEs)
We wanted to understand the extent to which claims from SMEs, who are less likely to be sophisticated customers and who often exhibit similar knowledge and experience to that of retail ... Claims were not always being managed effectively in the interests -
CP14/29: Guaranteed Asset Protection insurance: a competition remedy
The objectives for the proposals set out in the paper are to reduce the advantage enjoyed by the add-on distributor and to empower customers to make informed and active decisions ... Our proposals will affect whether and how retail and commercial -
CP17/1: Financial Services Compensation Scheme – management expenses levy limit 2017/18
In a joint consultation with the Prudential Regulation Authority (PRA), we are consulting on the management expenses levy limit (MELL) for the Financial Services Compensation Scheme (FSCS).