Financial Conduct Authority (FCA)
The Financial Conduct Authority is the conduct regulator for 59,000 financial services firms and financial markets in the UK and the prudential supervisor for 49,000 firms, setting specific standards for 19,000 firms.
Editor's letter - May 2015
“At a time of 0% inflation how is an 8.4% rise justified? Are you 8.4% more in need of regulation than you were this time last year?”
Law firm warns on add-ons after FCA fines Moorhouse
Pinsent Masons says the regulator is taking an ongoing interest in the add-ons market.
Moorhouse apologises for failures leading to FCA fine
Broker claims the issues identified by the regulator were addressed 18 months ago.
FCA bans former insurance broker Stephen Robert Allen
Regulator finds he is not a fit and proper person to perform any function connected to a regulated activity.
Clydesdale Bank to pay biggest ever PPI fine
The FCA fines the bank £20.7m for handling PPI complaints incorrectly.
Biba chief bemoans expensive regulation as FCA proposes 8.4% hike
White highlights brokers already face the most expensive regulation in the world.
FCA points out the pitfalls of social media
Regulator’s guidance on financial promotions serves as useful reminder for brokers
FCA data shows complaints about insurance intermediaries continue to fall
Fourth consecutive half year of falling complaints.
PPI complaints fell in the second half of 2014
Overall number of complaints to financial services firms fell 7% compared to the first six months of the year.
Gocompare welcomes FCA social media guidance
Aggregator says it doesn't rely on the medium to drive business.
Select Committee slams FCA over insurance briefing
MPs warn that problems may still exist at the regulator.
FCA to raise fees as funding requirement grows 8.4%
Regulator's annual funding requirement has risen to £481.6m and fees will rise accordingly.
Brokers welcome FCA’s review of appointed representatives
Industry says attention from the regulator is a positive development and will help increase awareness of the model.
FCA proposes to ban opt-out selling
Regulator to abolish opt-out selling following study into the general insurance add-ons industry.
FCA to focus on appointed representatives and big data
The regulator says it will publish final client money rules this year.
FCA issues guidance on financial promotions via social media
Regulator says communications must be fair, clear and not misleading.
FCA takes firm stance on NED accountability
Roles of chairman, senior independent director and chairs of risk, audit, remuneration and nominations committees to come under new Senior Managers Regime.
Towergate planning for up to £85m mis-selling bill for financial division
Potential payments relates to past advice given to customers on ETV and UCIS.
FCA to reassess PPI complaints
Regulator to examine if current approach to PPI is working.
Wheatley regrets "shoot first" line
The FCA chief executive appears at hearing following the Davis Report.
FCA consults on FSCS management levy
FCA proposes management costs of £74.4m for Financial Services Compensation Scheme.
FCA insurance fines down 28.5% to £31.96m in 2014
Broker-specific fines fall from £9.76m in 2013 to £1.3m last year.
Confusion over new FCA rules
Experts fear sales over the phone will have to stop.
FCA could stop firms using premium rate numbers
Regulator is considering changes to the rules on complaint handling and post-sale calls.