The Financial Conduct Authority (FCA) has today announced that multiple insurance firms have agreed to pause sales of Guaranteed Asset Protection (GAP) insurance, following a request from the FCA. The firms which have agreed to this action account for 80% of the GAP market. The regulator will carry out a second tranche of engagement with the
The Financial Conduct Authority (FCA) has launched criminal proceedings against Guy Flintham for committing fraud by false representation and for carrying out regulated activity without authorisation. The FCA alleges that between January 2016 and November 2021, Mr Flintham, based in Blackburn, Lancashire, defrauded around 240 investors by making false representations to persuade them to invest
Now into the second year of its 3-year strategy, the FCA has outlined some key achievements and milestones from the last 12 months, including the game changing introduction of the Consumer Duty, which came into force on 31 July 2023. Nikhil Rathi, Chief Executive of the FCA, said: 'The financial services sector is vital to
Proposals aimed at making the UK’s listing regime more accessible, effective, and competitive, have today been set out in detail by the Financial Conduct Authority (FCA). In May, the FCA consulted on what a new regime could look like. In its detailed proposals published today, it has kept the suggested change to a simplified listing
The Financial Conduct Authority (FCA) has today written to investment platforms and SIPP operators setting out its concerns on the way they deal with any interest earned on customers’ cash balances. The amount of interest earned by some firms has increased as rates have risen. The FCA recently surveyed 42 firms and found the majority
