Ulrike Hotopp and Claire Whyley have been appointed to the FCA’s and Payment Systems Regulator's (PSR) Competition Decisions Committees (CDCs). These two committees are responsible for taking certain competition law decisions on behalf of the FCA and PSR. Committee members are selected on the basis of their experience of making independent evidence-based decisions, and their
The Financial Conduct Authority (FCA) has banned Geoffrey Armin from advising customers on pension transfers and pension opt outs, and from holding any senior management function in a regulated firm. The FCA found that Mr Armin, while running Retirement and Pension Planning Services Limited (dissolved), was seriously incompetent when advising on defined benefit (DB) pension
On 2 November 2023, Southwark Crown Court imposed a Confiscation Order of £355,369 against Timothy Coleman, former Chief Financial Officer of Redcentric Plc, following his convictions in February 2022 for false accounting and making misleading statements to the market. Mr Coleman is currently serving a 5 and a half year prison sentence for these offences.
The FCA has fined Equifax Ltd (Equifax) £11,164,400 for failing to manage and monitor the security of UK consumer data it had outsourced to its parent company based in the US. The breach allowed hackers to access the personal data of millions of people and exposed UK consumers to the risk of financial crime. In
Mr Staley has referred his Decision Notice to the Upper Tribunal where he will present his case. Any findings in the Decision Notice are therefore provisional and reflect the FCA’s belief as to what occurred and how it considers his behaviour should be characterised. The FCA has decided to fine former CEO of Barclays, James
