Regulatory

The Financial Conduct Authority (FCA) has told banks they must treat small business customers fairly when collecting and recovering debts.

The Financial Reporting Council (FRC) has today published a Position Paper setting out the next steps to reform the UK’s audit and corporate governance framework. The paper follows the Government Response to the consultation on strengthening the UK’s Corporate Governance, Corporate Repor

Mike Younger, finance director with Edinburgh-based Ian Macleod Distillers has publicly criticised the Department for Work and Pensions (DWP) after his identity was stolen to claim benefits illegally. Mr Younger received a bill for for almost £700 by the DWP after his national insurance number

HM Treasury has today announced the appointment of Ashley Alder as the new chair of the Financial Conduct Authority (FCA). Mr Alder is currently chief executive officer of the Securities and Futures Commission (SFC) in Hong Kong, a role he has held since 2011. He also chairs the Board of the Interna

A 40-year-old woman has been sentenced to two years imprisonment after embezzling money from two Glasgow-based organisations. Natalie McGarry or Meikle was found guilty of taking almost £25,000 while involved with two pro-independence organisations between April 2013 and November 2015.

UK Finance has called for cross-sector action as its latest fraud report revealed over £1.3 billion was stolen through fraud and scams.

HMRC failed to collect over £30 billion in 2021, according to new figures. Figures published by the tax authority revealed £32bn in tax went unpaid in the 2020-21 financial year. This marks 5.1% of the total that HMRC is owed.

New measures to stop rip-off agents taking advantage of people and pocketing their tax repayments have been proposed by HMRC. HMRC today launched a 12-week consultation “Raising standards in tax advice: Protecting customers claiming tax repayments” to consider ways to better protect taxp

The Financial Reporting Council (FRC) has today published comprehensive professional judgement guidance for auditors to improve how they exercise professional judgement. Professional judgement is key to high quality audit, however the FRC regularly identifies poor professional judgement as one of th

The Financial Conduct Authority (FCA) is using data to tackle online fraud faster by scanning approximately 100,000 websites created every day to identify those that appear to be scams. Where the FCA identifies fraudulent websites, it is proactive in requesting the website host shut them down, thoug

The Financial Conduct Authority (FCA) has published a list of providers it intends to authorise when the pre-paid funeral plans industry comes under its regulation from 29 July.

Fast-food giant McDonald’s has agreed to pay €1.25 billion to the French authorities to avoid prosecution for tax evasion. McDonald's is set to pay a fine of €508 million while also settling a bill of €737m for unpaid tax dating from 2009 to 2020.

Former Perth accountant Derek Foster, who conned HMRC out of £22,000, is facing jail for failing to pay a court compensation order of almost £19,000.  Mr Foster told Perth Sheriff Court he could not prove he had paid back any money because his brother had been making payments on his

The Financial Reporting Council (FRC) has today published a consultation on proposed changes to Technical Actuarial Standard 100 which would require actuaries to include climate change risks in the course of their work. The FRC is proposing to introduce a new requirement to ensure actuarial practiti

Bank of Scotland owner Lloyds Banking Group is close to agreeing a compensation deal for victims of the Reading HBOS scandal. After mounting pressure from small business representatives and the Financial Conduct Authority, it has been reported that the banking giant has agreed to offer victims of th