Search Results for: UK Financial Conduct Authorit
How Six Brokers Walked Free After Unraveling of U.K. Libor Case
February 9th, 2016
Witnesses fail to convince, jury acquits local defendants Loss in complex case seen a major setback for regulators The first signs of trouble for prosecutors came about three weeks into the trial. Their witness was a government investigator called ...
FCA confirms accountability rules for wholesale traders and interim rules on regulatory references
February 5th, 2016
The Financial Conduct Authority (FCA) has published the final rules confirming their approach to improving individual accountability for those carrying out wholesale activities, such as algorithmic and high-frequency trading, in banks, building societies, and Prudential Regulation Authority (PRA) designated ...
FCA fires warning shot at spread betting firms
February 3rd, 2016
Britain’s financial regulator warned spread betting firms on Tuesday to comply with its rules after a survey found poor practices that risk leaving customers unfairly treated. The Financial Conduct Authority published on Tuesday a “Dear CEO” letter sent to ...
FCA and PRA announced that will start investigations into HBOS senior managers
January 29th, 2016
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have decided to start investigations into certain former HBOS senior managers. These investigations will determine whether or not any prohibition proceedings should be commenced against them. The FCA ...
Barclays faces £700m legal action
January 29th, 2016
Barclays has confirmed it is being sued for more than £700m by deal-maker Amanda Staveley in connection with its emergency fundraising in 2008. The Financial Times reported that Ms Staveley’s firm, PCP Capital Partners, had taken legal action against ...
Andrew Bailey appointed as new Chief Executive of the FCA
January 26th, 2016
HM Treasury have today announced the appointment of Andrew Bailey as the new permanent Chief Executive of the Financial Conduct Authority (FCA). Andrew is currently the Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive ...
Europe’s big banks remain wary of doing business with Iran
January 25th, 2016
Sanctions have been lifted but uncertainty over US authorities’ stance means banks are reluctant to handle payments A week after the lifting of sanctions against Iran, major European banks are still reluctant to handle Iranian payments as they remain wary of ...
HMRC admits to winding up inquiry into HSBC tax evasion claims
January 14th, 2016
Only one person was prosecuted following claims the bank turned a blind eye to illegal activities of hundreds of wealthy customers HM Revenue and Customs has wound up its inquiries into claims that hundreds of British customers used HSBC’s ...
Two former Forex traders will sue their former employers this month
January 14th, 2016
Ex-Barclays, Citi FX traders sue for unfair dismissal in London Two former foreign exchange traders will this month sue their former employers Barclays and Citigroup for unfair dismissal at a London court. Former Barclays FX trader Jack Murray is ...
Cypriot police quiz HSBC officials
January 12th, 2016
A police official says state prosecutors seeking to bring controversial banker Andreas Vgenopoulos to Cyprus to answer criminal charges are now chewing over their next move after questioning several officials of HSBC in London. CID investigators had flown to ...
