Author Archives: ETE

The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published today a Decision on the information that competent authorities must report to them for the designation of critical ICT third-party service providers under the Digital Operational Resilience Act (DORA). In particular, the Decision requires competent authorities to report by 30 April 2025 the […]

Craig Buchan and Martin Cooke, former partners of MedDen Financial Services LLP (MedDen), have been fined £6,037 and £6,020 (respectively) and banned by the FCA for recklessly breaching an asset requirement imposed on the firm. The FCA imposed an asset requirement on MedDen, meaning the firm could not diminish the value of any of its […]

The FCA is committed to supporting growth. The financial services sector is the engine of the country’s economy. A successful sector drives prosperity for companies, getting money to flow to small and medium-sized businesses allowing them to invest and grow. The UK is a magnet for talent and investment, with London ranking as the world’s […]

The Financial Conduct Authority (FCA) and Financial Ombudsman Service have published a joint call for input to seek views on how to modernise the redress system, so it better serves consumers and provides greater stability for firms to invest and innovate. The organisations will also improve how they work together, and with industry and consumer […]

We have set out the next steps in our work on closing the advice gap, following feedback on our Discussion Paper (DP23/5). We want people to be able to make informed decisions about their finances with confidence – and for people to have access to the help, guidance and advice to do so. We want […]

The FCA welcomes the Government’s publication of their consultation response and the draft legislation on bringing environmental, social and governance (ESG) ratings providers into regulation. This is widely supported by industry. As financial services firms integrate ESG into their activities and expand their products in this space, they are increasingly reliant on third party ESG […]

Former Director and CEO of Bananacoast Community Credit Union Limited (BCU), Lyndon Allen Kingston, has been found guilty of dishonest conduct. On 12 November 2024, following a four-week trial in the Brisbane District Court, a jury found Mr Kingston guilty of two counts of dishonestly using his position with the intention of gaining an advantage […]

We share the vision of an innovative, safe and competitive payments sector, embracing technological change to better serve people and business. The changes announced today will help ensure better coordination and clearer regulatory responsibilities. We will continue to work closely with the Payment Systems Regulator (PSR), the Bank of England and the government to deliver […]

ASIC today announced its enforcement priorities for 2025, capturing the key areas where it will direct resources and expertise in the coming year. ASIC Deputy Chair Sarah Court said, ‘Our 2025 enforcement priorities reflect the increased risks consumers are facing that are being driven by cost of living pressures. These priorities are about protecting Australians […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is launching a data collection exercise together with the national competent authorities (NCAs), on costs linked to investments in AIFs and UCITS. ESMA with the NCAs has designed a two-stage data collection involving both manufacturers and distributors of investment funds. Information […]