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  1. FCA and PRA jointly fine Raphaels Bank £1.89m for outsourcing failings

    Press Releases Published: 30/05/2019 Last modified: 30/05/2019
    The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have fined R. Raphael & Sons plc (“Raphaels”) for failing to manage its outsourcing arrangements properly between April 2014 and December 2016. 
  2. Loot Financial Services Limited (in Administration)

    Statements Published: 29/05/2019 Last modified: 30/05/2019
    Loot Financial Services Limited has entered administration. We explain what this means for customers.
  3. FCA update on share trading obligations

    Statements Published: 29/05/2019 Last modified: 29/05/2019
    ESMA has today published a statement on the revised scope of the EU’s share trading obligation (STO) under a no-deal scenario, following their initial announcement on 19 March 2019.
  4. FCA bans Terry Farr

    Press Releases Published: 29/05/2019 Last modified: 29/05/2019
    The Financial Conduct Authority (FCA) and Action Fraud are warning the public to be wary of investment scams carried out via bogus online trading platforms. This warning comes as cryptoassests and forex investment scams reports more than tripled last year to over 1,800. Fraudsters promise high returns from investments in crypto and forex, with...
  5. LAMP Insurance Company Limited (LAMP) has applied for liquidation

    Statements Published: 28/05/2019 Last modified: 28/05/2019
    LAMP is an insurance firm authorised and regulated by the Gibraltar Financial Services Commission (GFSC). It operates in the UK on a freedom of services basis which means that some customers, based in the UK, may have a policy with the firm.
  6. Lendy Ltd enters administration

    Statements Published: 24/05/2019 Last modified: 24/05/2019
    On 24 May 2019, following action taken by the FCA, Lendy Ltd, a regulated Peer-to Peer (P2P) firm, appointed Damian Webb, Phillip Rodney Sykes and Mark John Wilson of RSM Restructuring Advisory LLP as administrators. The same administrators have been appointed for two further related, but unregulated, firms: Lendy Provision Reserve Ltd; and Saving...
  7. FCA confirms extension of the Temporary Permission Regime deadline

    Press Releases Published: 24/05/2019 Last modified: 24/05/2019
    The FCA has today confirmed the deadline for notifications for the temporary permissions regime (TPR) will be extended to the end of 30 October 2019. TPR would allow EEA-based firms passporting into the UK to continue new and existing regulated business within the scope of their current permissions in the UK for a limited period, while they seek...
  8. Update on the independent investigation into London Capital & Finance

    Statements Published: 23/05/2019 Last modified: 05/11/2019
    HM Treasury (HMT) has announced details of the independent investigation into London Capital & Finance (LC&F)
  9. Statement on the launch of the finalised CTI templates

    Statements Published: 22/05/2019 Last modified: 22/05/2019
    The FCA welcomes the announcement by the Cost Transparency Initiative (CTI) officially launching finalised and industry-ready templates for the disclosure of costs and charges to institutional investors. The new templates can now be used by institutional investors to access and assess critical information on costs. This gives investors clear...
  10. FCA wins case against unauthorised forex firm

    Press Releases Published: 22/05/2019 Last modified: 22/05/2019
    Following an application by the FCA, the High Court, on 14 May 2019, declared that Xcore Capital Limited (Xcore) and Jonathan Chitty had carried on an unauthorised investment scheme. The scheme took in at least £1 million from investors but only a small amount of the investors’ money was ever used for trading.