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Metro Bank said in January 2019 it had corrected risk weightings of some of its commercial loan portfolios

UK financial regulator fines Metro Bank £10m

British challenger bank Metro and two of its former executives have been slapped with fines by regulator the Financial Conduct Authority, over reporting errors that wiped hundreds of millions of pounds off its share value in 2019.

Business • 12 Dec 22

The FCA fines Santander £107.7m for 'serious and persistent' gaps in the Spanish bank's anti-money laundering controls

UK financial watchdog fines Santander £107m

Britain's Financial Conduct Authority said it had fined Santander £107.7m for "serious and persistent" gaps in the Spanish bank's anti-money laundering controls for more than 560,000 business customers.

Business • 09 Dec 22

The closures are the latest in a series of such moves by NatWest

NatWest closes a further 43 branches as banks cut costs

NatWest said today it is closing a further 43 branches in the UK, as lenders reduce their physical presence to cut costs and to adapt to more customers taking up online banking.

Business • 13 Oct 22

The FCA said the Citigroup arm "could not effectively monitor its trading activities" for certain types of illegal activity

Citigroup fined £12.5m by UK financial watchdog

Citigroup's international broking business has been fined £12.5m by the UK financial watchdog over past failures to properly apply rules designed to halt suspicious trading activity.

Business • 19 Aug 22

The Financial Conduct Authority said it does not intend to go against the company's new business rescue plan in a UK court hearing

Amigo shares up as watchdog says it may resume lending

Shares in British sub-prime lender Amigo soared as much as 81% today after a financial regulator said the firm could resume lending subject to conditions and if its new business rescue plan was approved by the London High Court.

Business • 07 Mar 22

The lawsuit against Facebook will be heard by London's Competition Appeal Tribunal

Facebook faces £2.3 billion UK class action case

Social media giant Facebook now known as Meta Platforms, faces a £2.3 billion plus class action in Britain over allegations it abused its market dominance by exploiting the personal data of 44 million users.

Business • 14 Jan 22

The FCA said HSBC had made a string of failings, including inadequate monitoring of money laundering and terrorist financing scenarios until 2014

HSBC fined £64m for UK anti-money laundering failings

Britain's financial regulator has fined HSBC £63.95m for failings in its anti-money laundering processes.

Business • 17 Dec 21

NatWest is the first UK lender to admit guilt to money laundering offences

NatWest pleads guilty to money laundering offences

NatWest has today pleaded guilty to failing to prevent the laundering of nearly £400m, the first bank in Britain to admit to such an offence.

Business • 07 Oct 21

A court rejected a rescue plan last month for UK subprime lender Amigo

Ailing Amigo secures funding line waiver extension

Amigo said it has secured three months breathing space on a funding line as it scrambles for its survival, but it has been cut to £100m from £250m.

Business • 25 Jun 21

UK subprime lenders have been hit by a regulatory clampdown in recent years that has led to a wave of claims and compensation payouts for mis-selling loans

UK court rejects subprime lender Amigo's rescue plan

The UK High Court has rejected a rescue plan from subprime lender Amigo that would have cut compensation payouts to customers for mis-selling loans, sending the company's shares plunging more than 50% today.

Business • 25 May 21

The UK's Financial Conduct Authority started a criminal action against NatWest last week

NatWest money laundering case linked to second trial

Criminal money laundering charges against UK bank NatWest are linked to a separate case against 13 individuals based in cities across the country, prosecutors have told Reuters.

Business • 22 Mar 21

NatWest said in a statement it was cooperating with the Financial Conduct Authority's investigation

NatWest faces action over money laundering offences

The UK financial regulator said today it had launched criminal action against a unit of NatWest over money laundering offences.

Business • 16 Mar 21

The UK is considering raising the limit on contactless payments from £45 to £100

UK may raise contactless ceiling after payment surge

Britain will look into raising the limit on contactless payments from £45 to £100 to keep pace with a change in spending habits during the coronavirus crisis.

Business • 27 Jan 21

The UK Supreme Court has ruled today that businesses should be insured for some losses due to Covid lockdowns

UK court hands firms victory in Covid insurance ruling

The UK Supreme Court has ruled today that thousands of businesses should be insured for some losses amassed after a national lockdown to curb the coronavirus pandemic in a test case that pitched the markets regulator against major insurers.

Business • 15 Jan 21

The Financial Conduct Authority will temporarily allow UK financial firms to use platforms in the bloc if they do not have arrangements in place to execute the trade elsewhere, such as in the US

UK backtracks over curbs on cross-border swaps trading

Britain's markets watchdog said today that it would allow UK market participants to use platforms in the European Union to trade swaps for up to three months in a bid to avoid potential disruption in markets.

Business • 31 Dec 20

UK subprime lender Amigo has reported a 36.5% slump in half year revenues

Amigo flags going concern uncertainty as Covid-19 bites

Subprime lender Amigo has reported a 36.5% fall in first half revenues and flagged "material uncertainty" about its future operations.

Business • 26 Nov 20

Carillion went into liquidiation in January 2018, triggering Britain's biggest corporate failure in a decade

Carillion 'recklessly' mislead markets before collapse

Collapsed builder Carillion and some of its executive directors were "reckless" in failing to ensure that their public announcements did not mislead investors, Britain's Financial Conduct Authority said today.

Business • 13 Nov 20

The FCA is paying attention to how sensitive information is handled at a time when the volume of mergers, and issuance of shares and debt is rising sharply to keep companies afloat

UK watchdog warns banks over remote working rules

Banks must apply the same standards of surveillance and conduct to staff working from home or in the office during the pandemic and in future as working practices change, Britain's Financial Conduct Authority said today.

Business • 12 Oct 20

Amigo provides loans to borrowers who struggle to obtain credit from mainstream lenders if a friend or family member can act as a guarantor for them

Amigo to set aside more cash to settle complaints

British lender Amigo said today it had extended a deadline with the Financial Conduct Authority to deal with a backlog of customer complaints and set aside more money to settle them.

Business • 03 Jul 20

The UK's Financial Conduct Authority said last week it had launched an investigation into Amigo's creditworthiness assessment process

UK subprime lender Amigo abandons sale

UK subprime lender Amigo is no longer up for sale after a potential bidder pulled out of the process and its chairman Stephen Wilcke resigned on June 7, it said today.

Business • 08 Jun 20

The UK economy has gone into lockdown during the coronavirus crisis and a recession is predicted

Britain eases financial reporting rules during epidemic

UK financial regulators announced a welter of measures today to give companies more time to publish results and banks more leeway for handling troubled loans.

Business • 26 Mar 20

The UK Financial Conduct Authority said companies planning to report over the next few days should hold off so that they could better assess how Covid-19 is affecting their business

UK firms defer results after regulators call for delays

UK companies including home improvement group Kingfisher - which owns B&Q - said they would delay full-year results for at least two weeks, heeding a call from the financial markets regulator on Saturday.

Business • 23 Mar 20

An accounting scandal led to the exit of M&C Saatchi co-founder Maurice Saatchi last year

UK financial watchdog launches M&C Saatchi probe

M&C Saatchi said the UK financial watchdog had started an investigation after the advertising agency revealed an accounting scandal last year, which led to profit warnings and the exit of co-founder Maurice Saatchi.

Business • 31 Jan 20

Hedge funds gained early access to BoE press feeds

The Bank of England has admitted a rogue supplier has been misusing feeds of its press briefings, allowing high-speed traders access to market-sensitive information seconds before rivals.

Business • 19 Dec 19

Prices of crypto-assets, which include currencies like bitcoin, are very volatile, the Financial Conduct Authority has said

UK markets watchdog wants retail ban on crypto-assets

The UK's markets watchdog is proposing banning the sale of derivatives based on crypto-assets to retail consumers from early 2020 due to what it considers the prevalence of market abuses.

Business • 03 Jul 19