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The Financial Conduct Authority (FCA) is to use new powers to more swiftly cancel or change what regulated activities firms are permitted to do. This new power is available following a change in the law allowing the FCA to streamline and shorten the removals process.

The Financial Reporting Council (FRC) has published its thematic review of discount rates.

The Financial Reporting Council (FRC) has made changes to its Publication Policies for the Audit Enforcement Procedure (AEP) and the Accountancy and Actuarial Schemes. The main change relates to the test to be applied, by the Conduct Committee, when considering whether to make an announcement regard

The Financial Conduct Authority (FCA) is using emergency powers to prevent financial advice firms, who advised members of the British Steel Pension Scheme (BSPS), from disposing of assets to avoid paying compensation. The FCA has introduced these emergency rules, without consultation, in light of th

The Financial Reporting Council (FRC) has published a new Audit Firm Governance Code for the Big Four audit firms and firms that audit FTSE-350 companies and significant numbers of public interest entities (PIEs). The new Code is a result of the findings of a monitoring programme undertaken by the F

The Financial Reporting Council (FRC) has launched a consultation to take responsibility for the registration of auditors of public interest entities (PIEs) from the recognised supervisory bodies (RSBs). The proposal will bolster the FRC’s supervisory toolkit and enable it to become increasing

The Financial Reporting Council (FRC) has commenced an investigation in relation to the audit conducted by Deloitte LLP of the financial statements of Go-Ahead Group plc. The investigation concerns the years ended 3 July 2021, 27 June 2020, 29 June 2019, 30 June 2018, 1 July 2017, and 2 July 2016.

The Financial Reporting Council's (FRC) UKEB has extended the deadline to recruit members for its Investor Advisory Group (IAG) to Tuesday, 26 April 2022. The UKEB is establishing six advisory groups that will provide specialist knowledge and information as input into its technical decision-making.

The Financial Conduct Authority (FCA) has urged Facebook to take action on scam investment adverts following a rise in fraud attacks on social media platforms. Nikhil Rathi, chief executive of the FCA, listed Facebook’s owner Meta and Twitter as companies that must accelerate their crackdown o

The Financial Reporting Council (FRC) has published its 3-Year Plan which sets out the FRC’s progress toward establishing the new Audit, Reporting and Governance Authority (ARGA). The FRC’s 3-Year Plan follows the government’s 2021 consultation ‘Restoring Trust in Audit and C

The Financial Conduct Authority (FCA) has published proposals for a compensation scheme for former members of the British Steel Pension Scheme (BSPS) who received unsuitable advice to transfer out of the fund. The FCA has found that almost half (46%) of the advice it reviewed relating to BSPS was un

The Financial Conduct Authority (FCA) is taking action to tackle harm in the consumer investments market, as data published today shows it has stopped 1 in 4 firms from entering this market. The FCA is also urging consumers to be InvestSmart and ScamSmart, following an increase in the number of scam

The Financial Reporting Council (FRC) has issued a consultation on proposed changes to its statutory Guidance to the Recognised Supervisory Bodies (RSBs) on the recognition of Key Audit Partners for local audit. The changes have been proposed to address a recommendation made by Sir Tony Redmond in h

The Financial Conduct Authority (FCA) has fined Barclays Bank £783,800 for oversight failings in its relationship with collapsed payments firm Premier FX. Barclays was Premier FX’s sole banker in the UK.

The Financial Conduct Authority (FCA) has secured changes to potentially unfair and unclear terms in the contracts of Clearpay, Klarna, Laybuy and Openpay. The FCA was concerned there was a potential risk of harm to consumers as a result of the way some of the firm’s terms were drafted.