Santander UK hit with £107.7m FCA fine for AML failures
The regulator says it found “serious and persistent” gaps in the bank’s AML controls.
The regulator says it found “serious and persistent” gaps in the bank’s AML controls.
The regulator is “concerned about problem behaviours” linked to trading app design.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The regulator says Big Tech firms have the potential to change market outcomes quickly.
Revolut, an authorised EMI since 2018, was added to the Financial Services Register on 26 September.
The increase in shared banking hubs comes as retail banks continue to pull out of the country’s high streets.
The FCA is “proactively monitoring the market to ensure expectations are met”.
The move comes as part of the regulator’s work in response to the increasing cost of living.
The appointments sit alongside the nearly 500 new staff hired this year.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The FCA review found some UK challenger banks have “weaknesses” with regards to financial crime controls.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The FCA says none of the cryptoasset firms registered with the regulator have been approved to offer crypto ATM services.
The scrutiny of large financial services giants formed part of the FCA’s broader strategy.
The FCA says HSBC’s transaction monitoring systems showed “serious weaknesses” between 2010 and 2018.
The fine includes a 33% discount thanks to the bank’s early guilty plea.
Milton Keynes-based data firm wins regulator contract running until April 2024.
InvestSmart aims to address new investors driven by competition and influenced by hype.
Trade union Unite says its numbers have swelled following “growing disenchantment” from FCA staff.
The FCA is investigating Monzo over potential breaches of money laundering laws.
UK regulator to provide greater help to those willing to come forward.
The complaints commissioner criticises the timing and lack of promotion.
Last year, the sandbox recieved a record 99 applications.
The sandbox will be for both start-ups and “large financial institutions”.
Chancellor Rishi Sunak called Rathi “the outstanding candidate”.
Regulator’s former CEO Andrew Bailey called out for “tsunami of failure”.
The bank has eight times more than expected for PPI claims.
Former head of strategy takes over from BoE-bound Andrew Bailey.
Firms would like to see more guidance around ML regulations.
UK watchdog wants to protect retail customers from scams
AMF wants Britain to guard against potential for arbitrage opportunities.
FNZ acquires GBST, LSE to buy Refinitiv, and more!
The first product to market will be a consumer app launching in September 2019.
It proposes more transparency for better customer experience.
Both US and UK regulators have imposed large penalties.
FCA found the firm made 220.2m errors.
This comes on the back of a series of penalties in the past few months.
UK’s Financial Conduct Authority calls for feedback and more competition.
FCA reveals findings from first cryptoassets research.
FCA confirms increase in Financial Ombudsman Service award limit.