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Financial Conduct Authority

UK regulator censures Premier FX for 'seriously misleading' customers
Markets

UK regulator censures Premier FX for 'seriously misleading' customers

  • The Financial Conduct Authority (FCA) said it would have imposed a substantial fine on the company if it had not already been in liquidation or owed its 136 creditors - most of which are consumers - roughly 9.2 million pounds ($13 million).
  • We may never understand Peter Rexstrew's motivation for operating Premier FX in this way, using new customers' funds to pay existing customers or business expenses.
Published 25 Feb, 2021 07:03pm
Don't ignore ‘lockdown fatigue’, UK watchdog tells finance bosses
World

Don't ignore ‘lockdown fatigue’, UK watchdog tells finance bosses

  • Many staff at financial companies have been working from home since Britain went into its first lockdown in March last year to fight the COVID-19 pandemic.
  • During this third lockdown, there has been a greater impact on mental well-being, with many people struggling with job security, caring responsibilities, home schooling, bereavements and lockdown fatigue.
Published 22 Feb, 2021 06:44pm
Ex-Goldman Sachs analyst, brother charged in UK with insider trading
Markets

Ex-Goldman Sachs analyst, brother charged in UK with insider trading

  • Mohammed Zina was employed by Goldman Sachs International as an analyst in the Conflicts Resolution Group in their London office. Suhail Zina was a solicitor at Clifford Chance, also in London.
  • Goldman Sachs said the protection of confidential client information is of paramount importance for the bank, and it has worked very closely with the FCA.
Published 16 Feb, 2021 05:25pm
British banks told to pause branch closures
Business & Finance

British banks told to pause branch closures

  • Some banks and building societies have informed us that they are either going ahead with branch closures already announced, or announcing new branch closures during the current lockdown.
  • We are concerned that these activities could have significant consequences for customers.
Published 28 Jan, 2021 07:04pm
End-game for Libor is now clear, say UK financial regulators
Markets

End-game for Libor is now clear, say UK financial regulators

  • Firms should have everything they need to shift new financial contracts to SONIA, the BoE overnight interest rate.
  • Regulators want the use of Libor ended after banks were fined for trying to rig what was once dubbed the world's most important number.
Published 11 Jan, 2021 06:42pm