[ad_1] Benjamin Franklin was a Founding Father and a polymath, inventor, scientist, printer, politician, freemason and diplomat. In 1776, he was part of the five-member committee that helped draft the Declaration of Independence, in which the 13 American colonies declared their freedom from British rule. Franklin is remembered in many ways and famous for many quotes, […]
FCA warns public of investment scams as over £197 million reported losses in 2018
[ad_1] The Financial Conduct Authority (FCA) is today warning investors to be vigilant to the threat posed by investment scammers, as data from Action Fraud reveals over £197 million1 of reported losses in 2018. Victims were scammed out of over £29,000 on average last year, as fraudsters employed increasingly sophisticated tactics to persuade victims to […]
Hotel booking sites agree to end ‘misleading sales tactics’
[ad_1] Expedia, Booking.com, Agoda, Hotels.com, Ebookers and Trivago have been the subject of enforcement action from the Competition and Markets Authority (CMA) due to serious concerns around issues like pressure selling, misleading discount claims, the effect that commission has on how hotels are ordered on sites, and hidden charges. And now the sites have agreed […]
FCA approach to MiFID transparency calculations
[ad_1] ESMA’s statement (PDF) takes a pragmatic approach to how MiFID II will operate in the EU27, given that a number of the calculations will look back to a period when UK data was included. By the end of February 2019, we expect to set out our approach to using our temporary powers to operate MiFID II […]
The Importance of Diversity | FCA
[ad_1] Speaker: Andrew Bailey, Chief ExecutiveEvent: PIMFA Wealth of Diversity Conference, LondonDelivered: 14:30, 5 February 2019Note: this is the speech as drafted and may differ from the delivered version Highlights Diversity and inclusion is central to how we act as a regulator and as an employer. Fostering a culture of diversity and inclusiveness can contribute to changing the behaviour of firms […]
Study reveals possible link between numeracy skills and credit scores
[ad_1] How did the study work? During the study, 1,700 Experian customers agreed to complete a series of everyday maths questions using National Numeracy’s online assessment, and then submitted their results to be cross-checked against their Experian credit score. It’s worth noting that the 1,700 people had all volunteered to take part and they may […]
Manraj Virdee sentenced to 2 years for illegally operating an investment scheme and fraud
[ad_1] Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA, commented: ‘The FCA’s prompt action nipped Mr Virdee’s fraud in the bud and stopped it becoming inevitably bigger, causing greater loss to a wider group of victims. The FCA reminds investors to beware of anyone who is not authorised to carry out the […]
Sainsbury’s Energy to close and switch customers to British Gas
[ad_1] Sainsbury’s Energy operated under its own brand, but it was actually a white-label of British Gas – in other words the same company but using a different brand. Switching to Sainsbury’s Energy used to be a popular loophole – often pushed by MoneySavingExpert.com – allowing customers to get British Gas service at cheaper prices. […]
FCA fines former fund manager Paul Stephany
[ad_1] On two separate occasions, Mr Stephany submitted orders as part of a book build for shares that were to be quoted on public exchanges. Prior to the order books for the new shares closing, Mr Stephany contacted other fund managers at competitor firms and attempted to influence them to cap their orders at the […]
Up to 150,000 rejected PPI claimants to receive letters saying they can complain again
[ad_1] Last year, the Financial Conduct Authority (FCA) began consulting on new guidance on how firms should decide if a customer with payment protection insurance (PPI) has been treated unfairly, and it has now given clarification that means more customers can try to reclaim. MoneySavingExpert.com has welcomed the FCA’s announcement, as we campaigned for some […]