Responsive ad
CT Capital hit with regulator fine for PPI failings
Jun06

CT Capital hit with regulator fine for PPI failings

UK regulator Financial Conduct Authority (FCA) has fined CT Capital Ltd (CT Capital) GBP 2,360,900 for serious failings in its historic Payment Protection Insurance (PPI) complaint handling processes. PPI is an ongoing issue in Britain because of alleged fraud perpetrated on citizens and residents by banks and other financial institutions. FCA said that between May 2011 and November 2013, during which time it handled 6,669 PPI...

Read More
Besieged bankers offered legal lifeline
Aug10

Besieged bankers offered legal lifeline

Bankers worried over UK’s toughening stance toward financial offenders are offered a legal lifeline by a London law firm specialising in private prosecution service. The banking community was rocked by the sentencing 3 August 2015 of Tom Hayers, 35, for rigging the London Interbank Offered Rate (Libor). The 14 years in jail handed down to the former UBS and Citigroup yen derivatives trader was seen by some City circles as too...

Read More
New UK rules to embed bankers’ accountability
Jul07

New UK rules to embed bankers’ accountability

The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) today (7 July 2015) published what they said are “the final rules confirming the approach to improving individual accountability in the banking sector.” The final rules cover the Senior Managers Regime; the Certification Regime; and new Conduct Rules. The publication follows joint FCA-PRA final rules on variable remuneration (eg bonuses) in...

Read More
FCA review reveals general insurance shortcomings in UK
May11

FCA review reveals general insurance shortcomings in UK

A Financial Conduct Authority (FCA) review has revealed that insurers and insurance intermediaries are not always providing customers with clear information about the different payment options available, when buying general insurance products, the UK watchdog body said (11 May 2015). The FCA thematic review of premium finance focused on the online sale of home and car insurance and followed the customer journey up to the point where...

Read More
Payday lenders failing customers in arrears: FCA
Mar10

Payday lenders failing customers in arrears: FCA

The payday industry is beginning to take a more customer-focused approach to its business, but a review of the first twelve months of the Financial Conduct Authority’s (FCA) regulation of the sector has shown that too many firms have been failing to meet the requirements to treat customers in arrears fairly. In March 2014, shortly before it took over responsibility for regulating consumer credit, the FCA announced it would carry out a...

Read More
Tweet