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In the UK, the Financial Conduct Authority (FCA) has banned the practice for insurance policies effective 2021. [2] [3] [4] The move comes following a complaint by charitable organisation Citizens Advice, which described the practice as a "systemic scam". The FCA stated that "[i]nsurers will be required to offer renewing customers a price that ...
The FCA works alongside the Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements for the financial sector. The FCA is responsible for the conduct of around 58,000 businesses which employ 2.2 million people and contribute around £65.6 billion in annual tax revenue to the economy in the United Kingdom ...
James “Jes” Staley, the former JPMorgan Chase executive who was CEO of Barclays for six years, has been banned from holding senior roles in the UK financial services industry for misleading ...
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Reports suggest the Government is considering dropping the planned ban on HFSS promotions such as buy-one-get-one-free (Bogof) deals. Charities address ‘concerning’ reports that HFSS ...
In March 2018 Flowers was banned from the financial services industry by the Financial Conduct Authority (FCA) for having used his work email for sexually explicit messages and to discuss illegal drugs, and his work mobile phone to call premium rate chat lines. The FCA said he had "demonstrated a lack of fitness and propriety required to work ...
Main entrance – 25 North Colonnade (Canary Wharf, London) – FSA building The Securities and Investments Board Ltd ("SIB") was incorporated on 7 June 1985 at the instigation of the UK Chancellor of the Exchequer, who was the sole member of the company and who delegated certain statutory regulatory powers to it under the then Financial Services Act 1986.
The Financial Conduct Authority Handbook is a set of rules required to be followed by banks, insurers, investment businesses and other financial services in the United Kingdom under the Financial Services and Markets Act 2000.