Financial Conduct Authority

Financial Conduct Authority is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry.

Source: fca.org.uk

Lenders Under Regulatory Scrutiny as Consumer Debt Soars in Europe
Lenders Under Regulatory Scrutiny as Consumer Debt Soars in Europe
January 26, 2023  |  Bank Regulation

European regulators are targeting lenders as they look to protect consumers from excessive debt. In various guises across the continent, borrowing is on the rise....

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UK Watchdog Warns of Price Fixing Among Money Transfer Firms
UK Watchdog Warns of Price Fixing Among Money Transfer Firms
January 25, 2023  |  Legal & Regulation

The U.K.’s consumer watchdog has accused three money transfer firms of price fixing. The Financial Conduct Authority (FCA) alleged in a Wednesday (Jan. 25) news release that Dollar East, Hafiz Bros...

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UK’s 6 Largest Banks Complete Open Banking Roadmap
UK’s 6 Largest Banks Complete Open Banking Roadmap
January 13, 2023  |  Banking

The UK’s competition authority has announced the near completion of the country’s open banking roadmap. In a statement released on Thursday (Jan. 12), the Competition and Markets...

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FCA Fines Al Rayan and Guaranty Trust Banks For AML Failures
FCA Fines Al Rayan and Guaranty Trust Banks For AML Failures
January 11, 2023  |  Cybersecurity

The FCA has fined Al Rayan and Guaranty Trust banks over anti-money laundering (AML) failures. In the first penalty, announced by the U.K.’s Financial Conduct Authority on...

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UK and EU’s Payments and Crypto Regulation Divergence Set to Accelerate
UK and EU’s Payments and Crypto Regulation Divergence Set to Accelerate
December 30, 2022  |  Cryptocurrency

In 2023, the U.K. will accelerate its divergence from EU payment and crypto regulations. Meanwhile, the EU is moving ahead with its own policy agenda...

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UK Mortgage Lenders Agree on Measures to Help Struggling Borrowers
UK Mortgage Lenders Agree on Measures to Help Struggling Borrowers
December 28, 2022  |  Loans

The U.K.’s largest mortgage lenders have agreed on measures to help struggling borrowers. The new measures follow a meeting between the chancellor, Jeremy Hunt, and...

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FCA Cautions Holiday Shoppers Against Rise in Loan Fee Scams
FCA Cautions Holiday Shoppers Against Rise in Loan Fee Scams
December 22, 2022  |  Fraud Prevention

The U.K.’s financial regulator has warned consumers to be wary of Christmas scams. With inflation in the double figures, many in the country are turning...

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European Banks Pay for Anti-Money Laundering Failures
European Banks Pay for Anti-Money Laundering Failures
December 15, 2022  |  AML

A string of fines is shining a light on anti-money laundering failures at European banks. First, the U.K.’s Financial Conduct Authority (FCA) slapped Gatehouse Bank...

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New SCA Rules to Reduce Friction in Open Banking Payments
New SCA Rules to Reduce Friction in Open Banking Payments
December 14, 2022  |  Bank Regulation

Changes to strong customer authentication (SCA) rules in Europe are aiming to reduce customer friction. In the EU, the European Banking Authority (EBA) has updated...

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