Author Archives: ETE

The FCA has fined Barclays £40 million in total for its failure to disclose certain arrangements with Qatari entities in 2008. This follows Barclays’ decision to withdraw its referral of the FCA’s planned action to the Upper Tribunal. The action was based on findings which included that Barclays’ conduct in its October 2008 capital raising […]

The competition will award funding for several research projects focused on growth, competitiveness and regulation in the UK financial services sector. The FCA is launching its first competition to fund research into how regulation can support national growth. This follows a review of recent literature which found significant gaps in the available research. Applicants should […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is clarifying details for some of the documents that future applicants will be expected to provide when participating in the selection process for Consolidated Tapes Providers (CTPs). During the first stage of the selection procedure, the exclusion criteria will be used […]

The FCA has found that while life insurers provide good service to bereaved customers, they need to settle claims quicker and improve how they measure customer experience. The multi-firm review found evidence of good practice, such as firms providing additional support for claimants throughout what is a difficult time for them. The FCA also recognises […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor sent today its response to the European Commission (EC) consultation on assessing the adequacy of macroprudential policies for NBFI. In its response to the consultation, ESMA makes key proposals in several areas, as follows: Liquidity Management: ESMA recognises the progress made […]

The Financial Services and Credit Panel (FSCP) has made an order to suspend the registration of financial adviser Ian Reid for three months from 21 November 2024. Mr Reid’s financial adviser registration is not in force during the suspension period and he must not provide personal advice to retail clients in relation to relevant financial […]

The Financial Services and Credit Panel (FSCP) has made an order to suspend the registration of financial adviser Ian Reid for three months from 21 November 2024. Mr Reid’s financial adviser registration is not in force during the suspension period and he must not provide personal advice to retail clients in relation to relevant financial […]

The proposed extension would allow firms more time to handle complaints efficiently and effectively and help prevent disorderly, inconsistent and inefficient outcomes for consumers and firms. The FCA is seeking feedback on proposals to extend the time firms have to respond to motor finance complaints where a non-discretionary commission arrangement was involved. The regulator previously […]

The FCA has started criminal proceedings against 4 individuals for conspiracy to commit false accounting, with 3 of them facing further charges for fraud. Terry Dodd, John Riley and Brian Flanagan have been charged for fraudulently abusing their positions as directors of the Dial-A-Cab Credit Union for their own personal gain. The FCA alleges that […]

Former public company director, Harry Hatch (Hatgikyriazis), of North Melbourne, Victoria, has been convicted and sentenced for failing to disclose the total number of Copper Strike Limited shares he held, contrary to the Corporations Act 2001. Mr Hatch was sentenced to six months imprisonment to be released immediately after paying a $2,000 fine on the […]