Showing posts with label FCA. Show all posts
Showing posts with label FCA. Show all posts

Thursday, 7 January 2016

Scrapped SME Banking Report Ignites Firestorm


From PYMNTS.com –

“The U.K. Financial Conduct Authority has decided not to publish a long-anticipated report on the state of small business banking for the nation’s largest financial institutions, a decision that has angered some SME advocates, according to reports published Thursday (December 31).

According to Business Insider, it only took a few hours until the political firestorm arose after the FCA announced its decision.”

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Wednesday, 6 January 2016

Regulators are scrutinizing HSBC over its huge banking glitch


From Business Insider –

“Regulators are scrutinising HSBC over the bank's two-day online banking outage that has prevented millions of customers from accessing their accounts.

A spokesperson from the Financial Conduct Authority told Business Insider:

“The FCA is in contact with HSBC regarding a recent IT issue. We will be working closely with the bank as it resolves the problem and to ensure there are steps in place to help consumers who are affected.”

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Monday, 26 October 2015

Kweku Adoboli turns his hand to compliance training


From The Telegraph -

“Kweku Adoboli, the trader convicted of fraud after losing $2.3bn at UBS, is now speaking at compliance seminars for City workers and studying for a PhD, according to reports.

Adoboli was last week banned from financial work by the FCA, in what he said was "the closing of a difficult chapter for me". He is also fighting attempts to deport him to Ghana, where he was born but has not lived since he was four years old.

As a trader within UBS’s global synthetic equities team, Adoboli booked phantom trades to give the appearance of hedging his positions, leaving the bank unwittingly exposed to the full extent of his trading losses. He also hoarded profits from good trades to use later to cover losses on missteps.”

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