Search: financial focus

The Financial Conduct Authority (FCA) has launched an investigation into Aberdeen-based energy services company, Wood Group, following the discovery of "material weaknesses and failures" in the firm's financial culture.

The Financial Conduct Authority (FCA) has issued a stark warning to homeowners about the "freemen on the land" movement, a group promoting the pseudolegal theory that individuals are not bound by mortgage contracts they do not consent to. This conspiracy theory, gaining traction through social media

The Financial Conduct Authority (FCA) is proposing to lift the ban on offering crypto exchange traded notes (cETNs) to retail investors, with similar products already available in other countries.

The Financial Conduct Authority (FCA) has banned Detelina Subeva from the UK financial services industry. Ms Subeva is the third former Credit Suisse employee banned for lacking integrity, following their US convictions for conspiracy to commit money laundering connected to corrupt loans to the Repu

The Financial Conduct Authority (FCA) has found that one in ten people have no cash savings at all, and another 21% have less than £1,000 to draw on in an emergency. The regulator’s research also shows that one in four people in the UK have low financial resilience, meaning that they hav

The Financial Conduct Authority (FCA) is seeking views from firms about how its live AI testing service can help them to deploy safe and responsible AI, which will benefit UK consumers and markets. The live testing service would be a new component of the FCA’s AI Lab, which has been supporting

The Financial Reporting Council (FRC) has fined EY nearly £4.9 million for "serious" breaches of standards in its audits of the failed travel company Thomas Cook. The penalty concludes a near six-year investigation into the firm's work on Thomas Cook's accounts for the financial years 2017 and

The Financial Conduct Authority (FCA) has set out steps it will take to improve access to mortgages.  The FCA is reminding lenders of flexibility in its rules, which can help more people access a mortgage. This forms part of the work, announced in January in a letter to the Prime Minister, to r

City of London financial firms are lobbying the UK government to overhaul cash ISAs. Companies, including BlackRock and Phoenix Group, have urged Chancellor Rachel Reeves to either scrap or significantly reduce tax breaks on these accounts. Fidelity International proposes reducing the Cash Isa annua

The Financial Reporting Council (FRC) has published its final report from its market study into the assurance of sustainability reporting. The 2024 study found that while the UK’s market for the assurance of sustainability reporting is functioning well, there are concerns over quality consiste

The Financial Conduct Authority (FCA) has unveiled plans for a new private stock market system, PISCES (The Private Intermittent Securities and Capital Exchange System), aimed at revitalising London's IPO landscape and granting investors easier access to unlisted companies. PISCES will allow investo

The Financial Conduct Authority (FCA) has cautioned MPs against a "race to the bottom" in the pursuit of economic growth. FCA CEO Nikhil Rathi and chairman Ashley Alder addressed the Treasury Committee, emphasising the need for a balanced approach that considers consumer protection and market integr

The Financial Conduct Authority (FCA) has fined Metro Bank PLC (Metro) £16,675,200. The regulator found that, between June 2016 and December 2020, Metro failed to have the right systems and controls to adequately monitor over 60 million transactions, with a value of over £51 billion, for

A revised financial forecast for the Highland Council, taking account of already agreed savings and other measures, suggests a remaining budget gap of £38m-£54m over the coming three years. As part of the council’s medium-term financial plan, agreed in February 2024, the council ag

The Financial Conduct Authority (FCA) has said it is taking targeted action on 'finfluencers' who may be touting financial services products illegally. Twenty individuals are being interviewed under caution, and the FCA has issued 38 alerts against social media accounts operated by finfluencers. Thi