Press releases

FCA issues its first decision under competition law

The Financial Conduct Authority (FCA) has today issued a decision which finds that 3 asset management firms breached competition law. This is the FCA’s first formal decision under its competition enforcement powers.

FCA publishes Wholesale Insurance Brokers Market Study final report

The Financial Conduct Authority (FCA) has today published the final report of its Wholesale Insurance Brokers market study which was launched in November 2017 to assess how competition was working in the sector.

FCA announces appointment of new Chair of the Financial Services Consumer Panel

The Financial Conduct Authority (FCA) has today announced the appointment of Wanda Goldwag as the new Chair of the independent Financial Services Consumer Panel. The appointment, effective from 1 March 2019 for an initial three-year term, has been confirmed by HM Treasury.

ISDA Publishes German Bank CDS Protocol

ISDA has announced the launch of the ISDA 2019 German Bank CDS Protocol, designed to reflect changes being made to credit default swaps (CDS) on German bank reference entities.

Banking leaders share their insights on adopting the Senior Managers and Certification Regime

In a new video, senior leaders from four financial services firms, together employing over half a million staff, talk about their experiences of adopting the Senior Managers and Certification Regime (SM&CR).

FCA warns public of investment scams as over £197 million reported losses in 2018

Victims lost on average over £29,000 to investment scams in 2018
The most common scams reported involved investments in shares and bonds, forex and cryptocurrencies
54% of those who checked the FCA Warning List were contacted via online sources, up from 45% in 2017
Financial expert Alvin Hall put to the test in video scam challenge

Manraj Virdee sentenced to 2 years for illegally operating an investment scheme and fraud

In a case brought by the Financial Conduct Authority (FCA), Manraj Virdee was yesterday sentenced at Southwark Crown Court to a 2 year prison sentence suspended for 2 years and he was further ordered to carry out 300 hours of unpaid work in the community. The sentence followed earlier guilty pleas to 4 charges relating to misleading consumers, fraud and the illegal operation of an unauthorised investment scheme worth over half a million pounds.

FCA fines former fund manager Paul Stephany

The Financial Conduct Authority (FCA) has fined Paul Stephany, a former fund manager at Newton Investment Management Limited, £32,200 for his conduct in relation to an Initial Public Offering (IPO) and a placing.

FCA publishes its second set of rules following its Asset Management Market Study

The Financial Conduct Authority (FCA) has published new rules and guidance to improve the quality of the information available to consumers about the funds they invest in.

ISDA Issues Request for Proposal for Fallback Spread Vendor Role

ISDA today issued a request for proposal (RFP) for an independent service provider to calculate and publish adjustments related to fallbacks that ISDA intends to implement for certain interest rate benchmarks in its 2006 ISDA Definitions. ISDA has undertaken this work at the request of global regulators and industry participants.