Author Archives: ETE

Introduction Financial inclusion, enabled by innovation, unlocks economic opportunity. I saw this in action myself when I visited a debt charity in Glasgow recently. Staff told me how clients used to walk in carrying literal shopping bags of paperwork – bank statements, bills, scraps of paper with notes jotted on them. You can imagine the […]

The FCA has published the second phase of its consultation on proposals for a measured increase in transparency about its enforcement investigations, and set out plans for further engagement after significant concerns were raised in relation to the original consultation. The further consultation also aims to assist ongoing parliamentary scrutiny, including by the Commons’ Treasury […]

Jye Dilin Menzies-Clifton of Minchinbury, NSW, today appeared at the Mt Druitt Local Court charged with two counts of authorising the making of a false statement in a document lodged with ASIC contrary to section 1308(1) of the Corporations Act 2001 (Cth). At the time of the alleged offences, Mr Menzies-Clifton was the director of […]

ASIC has disqualified director Mary Asha Makeny of Liverpool, NSW, from managing corporations for five years following her involvement in the failure of three companies in the security industry. Between September 2020 and November 2021, Ms Makeny was the director of: Atlas Support Services Pty Ltd (ACN 652 292 021) All In One Security Pty […]

The FCA has fined András Sebők, former chief supply chain officer at Wizz Air Holdings plc (Wizz Air), £123,500 for trading company shares when he wasn’t permitted to, and failing to disclose his trades. Mr Sebők carried out the trades in his capacity as a person discharging managerial responsibility (PDMR) at Wizz Air. It was […]

The MiFID Organisational Regulation (MiFID Org Reg) is EU law we have adopted which contains key conduct, systems and controls obligations for firms, in particular investment firms. Following the Treasury’s announcement to lift requirements from legislation into the FCA’s rulebook, this consultation sets out our proposals for transferring the rules without policy changes. We are […]

Highlights Our new 5-year strategy will focus on 4 key themes of economic growth and innovation, financial crime, consumer resilience, and how we become a more efficient and effective regulator. The strategy has been built in partnership with a wide range of stakeholders, consistent with how we intend to deliver it. Trust in both the […]

The FCA has fined Macquarie Bank Limited – London Branch (MBL) £13m for serious failings that allowed one of its employees to record over 400 fictitious trades. From June 2020 to February 2022, Travis Klein, a trader based on MBL’s London Metals and Bulks Trading Desk was able to record and take steps to conceal […]

According to the FCA’s latest research on consumer attitudes and behaviours towards crypto, 12% of UK adults now own crypto, up from 10% in previous findings. Awareness of crypto also rose from 91% to 93%. The average value of crypto held by people increased from £1,595 to £1,842. Respondents told the FCA that information from […]

We brought together over 100 organisations involved in the industry, like crypto exchanges, banks, trading firms, blockchain analytics companies, law firms, industry associations and universities. Government officials, academics and other regulatory authorities including the Treasury and Bank of England. The US Securities and Exchange Commission also joined us to share their views. Together, we discussed […]