Press releases

FCA sets out latest expectations for firms on Brexit

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The FCA and regulated firms have been taking steps to prepare in the event the UK leaves the EU on 31 October 2019 without a deal. Today the FCA has issued an update on steps certain firms need to take.

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The FCA fines Tullett Prebon £15.4 million

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The Financial Conduct Authority (FCA) has fined Tullett Prebon (Europe) Limited (Tullett Prebon) £15.4 million for failing to conduct its business with due skill, care and diligence, failing to have adequate risk management systems and for failing to be open and cooperative with the FCA.

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FCA urges remaining victims of Churchgate Trading Syndicate to get in touch

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The Financial Conduct Authority (FCA) urges members of the public who lost money in an unauthorised scheme called the Churchgate Trading Syndicate and who may be eligible to receive some of their money back, to get in contact with the FCA.

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FCA sets out potential remedies to tackle concerns about general insurance pricing

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The FCA has today published the interim report of its market study into the pricing of home and motor insurance. The FCA found that competition is not working well for all consumers in these markets. It sets out concerns about how pricing in these markets leads to consumers who do not switch or negotiate with their provider paying high prices for their insurance.

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FCA urges victims to come forward after getting confiscation order against three individuals

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Southwark Crown Court has made confiscation orders against Samrat Bhandari, Muhammad Mirza and Paul Moore, following their earlier convictions and prison sentences for running an illegal investment scheme that lost investors over £1.4 million.

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FCA fines Prudential £23,875,000 for failures relating to non-advised annuities sales

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The Financial Conduct Authority (FCA) has today fined The Prudential Assurance Company Limited (Prudential) £23,875,000 for failures related to non-advised sales of annuities. 

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FCA confirms new rules for certain open-ended funds investing in inherently illiquid assets

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The Financial Conduct Authority (FCA) has today confirmed new rules which apply to certain types of open-ended fund investing in inherently illiquid assets such as property. The new rules apply to these funds, known as non-UCITS retail schemes (NURSs), but will not apply to other types of fund, such as UCITS, which are already subject to restrictions relating to such assets.

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Further details of Independent Investigation of Connaught Income Fund Series 1 announced

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Raj Parker has announced that the independent investigation into the approach to, implementation and oversight of the Connaught Income Fund Series 1 (the Fund) is now up and running and is inviting affected individuals to get in touch.

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Updates to the FCA’s directions under the Temporary Transitional Power

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Today, the Financial Conduct Authority (FCA) has updated and published draft directions under its Temporary Transitional Power (TTP). The TTP gives the FCA flexibility in applying post-Brexit requirements, allowing firms to transition to a new UK regulatory framework. The directions would only come into effect on exit day if the UK leaves the EU without an implementation period.

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Sheree Howard appointed as FCA Executive Director of Risk and Compliance Oversight

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The Financial Conduct Authority (FCA) has today announced that Sheree Howard has been appointed as Executive Director of Risk and Compliance Oversight (R&CO).

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