FCA
Investment | 15 Feb 16
Investors to receive compensation after FCA prosecution
More than 100 people who invested in a fraudulent collective scheme will collectively receive around £2.9m compensation following the successful prosecution of a fake foreign exchange trader under the Proceeds of Crime Act 2002 (POCA).
Tax & Regulation | 27 Jan 16
Talk of UK commissions return draws ire
A return to commission payments would be a huge step backwards and contrary to the retail distribution review, said industry leaders after the Financial Conduct Authority’s (FCA) interim chief executive failed to rule out a return to commission payments.
Tax & Regulation | 26 Jan 16
Bank of England’s Bailey named FCA chief executive
The new chief executive of the UK’s Financial Conduct Authority (FCA) has been named as Andrew Bailey, the Bank of England’s deputy governor for prudential regulation and chief executive of the Prudential Regulation Authority (PRA).
Tax & Regulation | 20 Jan 16
New UK exit fee cap to apply equally to work-based plans
The UK pensions minister Ros Altmann says the new powers handed to the Financial Conduct Authority to cap exit fees on savers seeking access to their pension pots will apply equally to occupational and work-based personal schemes.
Tax & Regulation | 19 Jan 16
Authorised UK firms hit with £363m FSCS levy
Firms authorised by the UK’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will have to collectively pay £363m ($518m, €475m) to fund the Financial Services Compensation Scheme (FSCS) in 2016/17, an increase of 13.1% from £319m in 2015/16.