Search Results for: UK Financial Conduct Authorit
FCA: Investment and fund manager banned
October 24th, 2016
On 20 October 2016 the Tribunal upheld the Financial Conduct Authority’s (FCA) decision to ban Tariq Carrimjee of Somerset Asset Management LLP (Somerset) from carrying out the compliance oversight and money laundering reporting significant influence functions. The Tribunal’s decision ...
FCA fines Sonali Bank for serious anti-money laundering systems failings
October 12th, 2016
The Financial Conduct Authority (FCA) has fined Sonali Bank (UK) Limited (SBUK) £3,250,600 and has imposed a restriction, preventing it from accepting deposits from new customers for 168 days. It has also fined the bank’s former money laundering reporting ...
Barclays Bank is the most complaint about firm according to FCA
October 11th, 2016
Financial services firms recorded a 2.6% reduction in new complaints between January and June 2016 compared to the previous six months, according to new complaints data published today by the Financial Conduct Authority. The total number of complaints was ...
Asian Stocks Slide as Deutsche Bank Jitters Boost Dollar, Gold
September 30th, 2016
Deutsche Bank sank to record low in U.S., hitting financials Gold advances with sovereign bonds as haven assets favored What’s set to be the best quarter for Asian stocks since 2012 is ending on a sour note as concern about ...
FCA proposes new measures to maintain firms’ focus on culture
September 29th, 2016
The Financial Conduct Authority (FCA) will mark six months since the implementation of the Senior Managers’ and Certification Regime by providing feedback on implementation so far and proposing measures to further strengthen the regime. The proposed rules will reinforce ...
Payday firm CFO Lending to pay £34 million redress
September 20th, 2016
Payday firm, CFO Lending, has entered into an agreement with the Financial Conduct Authority (FCA) to provide over £34 million of redress to more than 97,000 customers for unfair practices. The redress consists of £31.9 million written-off customers’ outstanding ...
FCA warns for an unathorised Forex provider
August 25th, 2016
The Financial Conduct Authority (FCA) has issued a warning to inform that the Authority believes that the below firm has been providing financial services or products in the UK without FCA’s authorisation. Almost all firms and individuals offering, promoting ...
FCA warns for a clone of JB Trade Finance
August 23rd, 2016
The Financial Conduct Authority (FCA) has issued a warning to inform investors and public that fraudsters are using the details of firms the FCA authorises to try to convince people that they work for a genuine, authorised firm. According ...
EuroFX: How British Firms Built a Pyramid Scheme in China That Lost Millions
August 19th, 2016
The foreign exchange fraudsters hid in the cracks between international jurisdictions. As David Byrne ate breakfast at the Tongli Lakeview Hotel outside Shanghai one Sunday in April, an angry customer was waiting for him. Byrne, 52, is a British ...
FCA fined Cenkos Securities £530,500 for failures
August 9th, 2016
The Financial Conduct Authority (FCA) has today fined Cenkos Securities plc (Cenkos) £530,500 for failures in its sponsor services business. Cenkos failed to have appropriate systems and controls in place across its sponsor services business, and, on a particular ...
