Revolut bags watchdog approval to beef up UK wealth offering May 14, 2026 Revolut has received the regulatory green light to bulk up its wealth management offering, marking one of its first major expansions in the UK after bagging its banking licence. The $75bn juggernaut’s trading arm has secured a Variation of Permissions from the City watchdog, which allows the firm to broadened the scope of regulated activities [...]
‘Dual squeeze’: FCA approvals for e-money licences plummet May 13, 2026 The number of successful applicants for e-money licences has plummeted in the last few years raising further questions over a slow down in market growth. Fresh figures – revealed in a Freedom of Information request by financial regulation consultancy Pathlight Associates – showed just 35 applicants were able to bag an electric money institution (EMI) [...]
Directors of collapsed Carillion banned by accounting watchdog May 12, 2026 A pair of Carillion finance directors in post shortly before its collapse have been fined and banned by the accounting industry watchdog, bringing the curtain down on eight years of regulatory probes into one of the most notorious corporate failures in British history. Richard Adam – who served as the now-extinct contracting company’s finance director [...]
Motor finance compensation scheme hanging by a thread amid legal row May 8, 2026 The City watchdog has told lenders to prepare for the “alternative scenario of no scheme” in the long-running motor finance scandal as another legal showdown brews. The Financial Conduct Authority (FCA) has received four legal challenges including from lenders Volkswagen Financial Services, Mercedes-Benz Financial Services and Crédit Agricole Auto Finance. On the consumer side, the [...]
FCA struggles with rising whistleblower caseload May 8, 2026 The City has seen a jump in whistleblowing alongside a slowdown in the number of cases being closed in signs the UK’s financial watchdog is struggling to handle the caseload. The volume of whistleblowing reports rose by nearly 30 per cent in the UK in the first three months of the year to hit a [...]
City watchdog probes Mastercard, Visa, Paypal for alleged anti-competitive conduct May 6, 2026 The City watchdog has confirmed it is investigating a trio of payments giants over alleged anti-competitive conduct. The Financial Conduct Authority (FCA) will probe Mastercard, Paypal and Visa under the Competition Act 1998 regarding its suspected conduct related to the “funding and usage” of Paypal’s digital wallet. Paypal’s digital wallet is an app-based system that [...]
City watchdog eyes new laws for claimant firms accused of ‘harm’ May 6, 2026 The City watchdog has threatened enforcement action and new laws to impose “stronger compensation mechanisms” against the claims management market, including law firms that cause harm. The Financial Conduct Authority (FCA) has launched a fresh review of “the root causes of poor practices” across the market, as claims management companies and law firms come under [...]
Motor finance provider faces administration amid £9bn redress fallout May 5, 2026 Blue Motor Finance is reportedly on the verge of administration after a series of financial setbacks and pressures stemming from the City regulator’s planned £9bn motor finance redress scheme. The independent motor finance provider is said to be facing a redress bill of over £50m, having lent over £1bn to over 120,000 customers – as [...]
Banning payment for order flow is an EU blunder the UK shouldn’t repeat April 29, 2026 As the EU looks to impose a full ban of payment for order flow, Sylvain Thieullent argues why that would be misguided for the UK.
Mercedes Benz joins legal battle over £9bn motor finance scheme April 29, 2026 Mercedes Benz is confirmed to be among the four legal challenges lodged against the UK financial watchdog’s motor finance redress scheme. The financial services arm of the German car giant is set to challenge the scheme that puts the car finance industry on the hook for £9.1bn in compensation. The carmarker has thus far set [...]
