FCA

The list below is a collection of articles that refer to, mention or discuss FCA.

Watchdog Plans UK Ban On Crypto Derivatives

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City regulators are proposing a ban on selling investors derivatives and exchange traded notes based on cryptocurrency. The Financial Conduct Authority believes consumers fail to understand the risks of the market. A damning analysis fears investors face sudden and unexpected losses and argues the market should be cleared of poor products. The FCA went on … Read more

Watchdog Orders New P2P Protection For Investors

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City watchdogs have introduced a raft of new safeguards to protect peer-to-peer investors from losing money. The Financial Conduct Authority announced the measures only days after the collapse of property bridging platform Lendy, leaving investors holding £165 million of loans. The platform went into administration with a suspected £90 million of loans in default following … Read more

Binary Options Banned As Regulators Fear Scams

Consumer watchdogs have placed a permanent ban on gambling on binary options in the UK. The Financial Conduct Authority ban starts from April 2, 2019 and applies to anyone selling, marketing or distributing binary options to customers in the country. Binary options are a simple ‘yes/no’ bet on the movement of an investment. The potential … Read more

Binary Options Odds Stacked Against Winners

Financial watchdogs are concerned that many firms offering binary options are scams and that the odds of winning are stacked against investors. As a result, the Financial Conduct Authority is stepping in to take over regulation of the market to crack down on the crooks and make trading fairer for speculators. From January 3, 2018, … Read more

Pension Savers Should Get A Better Deal, Say Watchdogs

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Financial watchdogs want retirement savers to be told more about their pensions and a clearer charging structure if they choose pension drawdown. The Financial Conduct Authority (FCA) looks after the interests of consumers saving into pensions. The call for change has arisen from a review of pension freedoms introduced by the government in 2015. The … Read more

Revealed – How Banks And Insurers Trick Customers Into Buying

New research by financial consumer watchdogs rips apart the marketing strategies of banks and insurers to reveal the tricks they use to lure customers. The study by the Financial Services Consumer Panel looks at the psychology behind marketing financial products from payday loans to pensions. The watchdogs are a statutory body that offers research to … Read more

Watchdog Issues New Guidance For QROPS Transfers

Consumer watchdogs have issued new guidelines to UK financial advisers involved in transfers to the Qualifying Recognised Overseas Pension Scheme (QROPS). In a wide-ranging update, the Financial Conduct Authority, the organisation that regulates financial advice in the UK, has told IFAs that they must liaise with overseas IFAs when dealing with transfers to overseas pensions. … Read more

Are DIY Best Buy Funds Really What They Say?

Financial watchdogs are concerned that online trading platforms are not offering DIY investors the best recommendations with their best buy lists. Best buys are list of funds selected by platforms as the best deals available in a market sector or asset class. The picks are based on metrics such as portfolio characteristics, investment goals, past … Read more

Ban And Fine Appeal In £112m Risky Pension Advice Case

A former advice firm chief executive is fighting a lifetime ban and a £230,000 fine from City watchdogs for his part in recommending unregulated investments to hundreds of pension savers. Alastair Burns is appealing the penalty imposed by the Financial Conduct Authority (FCA). His firm, TailorMade Investments (TMI), advised retirement savers on transferring pension funds … Read more

Annuity Misselling Pay Outs Due For Thousands

Thousands of pensions missold annuities are due compensation following an investigation by financial watchdogs. The Financial Conduct Authority has identified at least 90,000 cases of pensioners in poor health who were sold annuities that pay too little. They should have been sold enhanced annuities that gave them extra retirement income because their bad health reduced … Read more