By Aaron Nicodemus2024-12-19T16:17:00
The U.K. Financial Conduct Authority (FCA) apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
The FCA received over 300 complaints from investors about the FCA’s failures when dealing with the firm, including “a failure to maintain the correct information on the register and a failure to alert investors when the regulator became aware of the incorrect information,” the FCA said.
The FCA offered a formal apology for its shortcomings, and offered to pay Collateral customers 500 pounds ($629) to investors in Collateral, along with another 150 pounds ($189) for delays in complaint handling.
2025-03-17T14:18:00Z By Neil Hodge
U.K. lawmakers slammed the country’s chief financial regulator’s hopes of “naming and shaming” firms as part of its efforts to beef up enforcement, denting its credibility in the process and questioning the leadership of its chief executive.
2025-01-29T18:43:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a landmark fine against trading platform Infinox Capital for failing to report “high-risk” transactions, the first-ever enforcement under a 2018 law.
2024-12-19T16:18:00Z By Neil Hodge
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
2025-07-26T02:15:00Z By Neil Hodge
Plans to push audit firms to disclose how they use AI in audits have been broadly welcomed, but concerns remain over how corporate data is used, secured, retained, and potentially exposed.
2025-07-25T23:17:00Z By Adrianne Appel
SEC Chair Paul Atkins is soliciting candidates for all five seats on the Public Company Accounting Oversight Board, he announced Wednesday.
2025-07-24T17:15:00Z By Ruth Prickett
The U.K. government promised to introduce Sustainability Reporting Standards in its manifesto. Almost a year after it came to power, it launched a consultation on June 25 on draft plans for these standards, which are largely based on those of the ISSB.
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