FCA

Photo of a sign of the Financial Conduct Authority

Britain’s financial regulator has opened an investigation into collapsed mortgage lender Market Financial Solutions, marking the first formal regulatory probe into the Mayfair-based group after its failure amid fraud allegations.

Photo of a sign of the Financial Conduct Authority

The UK’s current system of supervisors overseeing the anti-money-laundering (AML) programs of law firms, accountancies, and other professional bodies is failing to take “sufficiently dissuasive disciplinary measures” against those that fail to meet compliance standards, according to a new report. 

Exterior shot of a Nationwide branch with people walking past.

Nationwide Building Society has been hit with a £44-million fine by the UK’s financial regulator over longstanding weaknesses in its systems to detect and prevent financial crime, including failures that allowed tens of millions of pounds in fraudulent Covid furlough payments to pass through a customer’s account.

Foreign Secretary David Lammy speaking to the press in from of a sign reading "NCA: National Crime Agency"

The UK government is taking aim at corrupt bankers, lawyers, and accountants and deploying new tech tools to identify dirty money as part of a new strategy to root out tens of billions in illicit funds entering the country each year.

Justin Sun at the Grenadian Delegation to the 12th WTO Ministerial Conference

The UK’s Financial Conduct Authority (FCA) has filed a High Court lawsuit against crypto exchange HTX, alleging the platform unlawfully promoted cryptoasset services to consumers in breach of the country’s financial promotions regime, the Financial Times reported.