The UK Financial Conduct Authority (FCA has issued a consultation about proposed changes to its Guidance for Insolvency Practitioners. The aim is to clarify existing guidance and provide more information to insolvency practitioners (IPs) on how to deal with regulated firms. The proposed amendments (shown as track changes in this document) intend to update the … Continue Reading
The FCA’s review into the sale of interest rate hedging products by Banks has been ongoing since June 2012. Following a pilot phase, the full review started in May 2013 and over 17,000 businesses have been through the process. Most customers reviewed should now be at the stage where they have been offered basic redress (if … Continue Reading
On 12 November 2014 it was announced that HSBC, Royal Bank of Scotland, UBS, JP Morgan Chase and Citibank have been collectively fined £2 billion by UK and US regulators for manipulation of foreign exchange rates. The fines follow a 13 month investigation by regulators into claims that the foreign exchange market was being rigged. … Continue Reading
