FCA

United Kingdom's financial regulator

The Financial Conduct Authority regulates along with the Bank of England's Prudential Authority, the UK's financial markets. The FCA was created by Tony Blair's Labour government when FSMA 2002 was passed, creating one unified UK regulator called the Financial Services Authority. The SEC (Securities and Exchange Commission), is considered the US equivalent.

Due to the collapse of Northern Rock, a UK bank, following the global financial markets crisis precipitated by the collaspse of Lehman Brothers, the UK's regulatory approach was revised. Clive Briault, who headed the Retail Supervision of all UK financial markets firms lost his job and was the scapegoat for the UK's light touch regulation. The Conservative government decided to merge the regulatory powers of the FSA with the Bank of England again, creating two separate entities, the PRA (Prudential Regulatory Authority), and the FCA (financial Conduct Authority).

Wholesale markets have dedicated account managers who manage relationships with large firms such as HSBC, Blackrock and others which have significant impact on UK financial markets.

Retail firms have access to a call centre and support but do not have dedicated teams to support them. Firms such as mortgage intermediaries and insurance brokers fit into this category.

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Connor Coombe-Whitlock
July 30, 2020
Express.co.uk
CREDIT scores could be impacted for years to come according to new research from Credit Karma UK. Borrowing may soon become even more expensive for consumers.
BBC News
July 22, 2020
BBC News
Investigators visit sites in Germany, Italy and Switzerland, and two UK firms are asked to provide documents.
Kirsten Korosec
July 22, 2020
TechCrunch
Waymo and Fiat Chrysler Automobiles have inked a deal to develop and test autonomous cargo vans and other light commercial vehicles designed to shuttle goods. The agreement is an expansion of a partnership that kicked off four years ago with a focus on self-driving Pacifica hybrid minivans meant to transport people. The deal is the [...]
BBC News
July 20, 2020
BBC News
The case will rule whether many businesses should get payouts for damage caused by the pandemic.
JD Alois
July 16, 2020
Crowdfund Insider
Click HERE to find out ⭐ UK FCA Worried about Access to Cash as Bank Branches Shutter, ATMs Go Away. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
JD Alois
July 16, 2020
Crowdfund Insider
Click HERE to find out ⭐ UK Financial Conduct Authority Partners with City of London Corporation to Pilot Digital Sandbox Supporting Firms Addressing COVID-19 Challenge. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
JD Alois
July 13, 2020
Crowdfund Insider
Click HERE to find out ⭐ Railsbank CEO Calls on Regulators to Step Up Safeguarding of e-Money Firms Following Wirecard Collapse. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Reuters
July 9, 2020
@bsindia
GM filed racketeering lawsuit against FCA last November, alleging its rival bribed United Auto Workers union officials over many years.
Jess Sheldon
July 6, 2020
Express.co.uk
MARTIN LEWIS, the founder of Money Saving Expert, appeared on This Morning today, to share his latest money insights. During his appearance on the ITV show, the financial journalist and campaigner spoke on the topic of mortgage payment holidays.
Omar Faridi
July 5, 2020
Crowdfund Insider
Bitcoin (BTC) investments: UK millennials with £25,000+ in investable assets are increasingly investing in cryptocurrencies, a survey reveals.
BBC News
July 3, 2020
BBC News
The regulator wants to give people struggling with high-cost credit or car finance more time to pay.
Connor Coombe-Whitlock
July 3, 2020
Express.co.uk
CREDIT card rules will be extended according to new rules set forward by the FCA and those rules come into force today. For those who need help because of coronavirus, it is now possible to seek extended support from credit providers.
Olivia Halsall
July 2, 2020
Crowdfund Insider
Click HERE to find out ⭐ Nausicaa Delfas Delivers Speech on Building a Suitable Financial Regulatory System for a New UK. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Rebekah Evans
July 2, 2020
Express.co.uk
OVERDRAFT rates are set to drastically increase within the coming weeks, in a move likely to shock bank customers.
Connor Coombe-Whitlock
July 1, 2020
Express.co.uk
CREDIT card rules will see changes and extensions in two days according to an announcement released today by the FCA. The changes will also affect personal loans and overdrafts.
JD Alois
June 30, 2020
Crowdfund Insider
Click HERE to find out ⭐ Rapid Rise: UK FCA Reports a 1.1 Million INCREASE in Cryptoasset Purchases in One Year. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
JD Alois
June 29, 2020
Crowdfund Insider
Click HERE to find out ⭐ UK FCA Halts Wirecard's Regulated Activities, Fintechs Scramble to Adapt, German MPs Call for an Inquiry into Wirecard's Collapse. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Simon Gompertz
June 29, 2020
BBC News
Thousands of people have been barred from using their cash because of the collapse of Wirecard.
Connor Coombe-Whitlock
June 28, 2020
Express.co.uk
CASH access is a big problem in the modern financial world. Consumers are embracing digital banking but as a result of this, use of physical cash has been declining and this could harm certain groups of consumers.
Connor Coombe-Whitlock
June 26, 2020
Express.co.uk
MORTGAGE practices have recently been placed under the FCAs microscope. The regulator found some worrying equity release evidence.
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