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Latest News

21
May

How Pawnbrokers Are Helping Customers Reclaim Their Cash

May 21, 2025
Imagine walking into your local pawnbroker to cash a cheque or exchange currency, only to discover you’re owed money from a previous transaction. Thanks to a recent initiative by the Financial Conduct Authority (FCA), this scenario is becoming a reality for many customers. The Surplus Dilemma In the pawnbroking world, when a pawned item sells...
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21
May

Understanding the FCA’s New Approach to Supervisory Communications

May 21, 2025
On 24th April 2025, the Financial Conduct Authority (FCA) announced a significant overhaul of its supervisory communications, aiming to simplify and modernise its engagement with regulated firms. This initiative is part of the FCA’s broader strategy to enhance regulatory efficiency and support the implementation of the Consumer Duty. Key Changes to Supervisory Communications 1. Discontinuation...
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21
May

Cyber Wake-Up Call: Why M&S Should Have You Rethinking Security

May 21, 2025
Imagine this: you’re a team member in the IT Department at a well-known retail giant, and you’re suddenly told to stay overnight at the office — not for a team-building exercise, but because of a major cyber incident. You’re cut off from critical systems, communication is in disarray, and paranoia is spreading faster than malware....
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07
Apr

The FCA’s FS25/2 Update: Previous “Dear CEO” Advisory Changes – what it could mean for Consumer Credit Firms

April 7, 2025
The Financial Conduct Authority (FCA) has just unveiled its latest regulatory refresh – FS25/2 – on 25th March 2025. For businesses operating in the consumer credit sector, this is more than just a policy update – it’s a chance to breathe easier as the FCA trims unnecessary complexity and sharpens its focus on outcomes-based regulation. ...
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07
Apr

The FCA’s FS25/2 Update: What It Means for Consumer Credit Firms

April 7, 2025
The Financial Conduct Authority (FCA) has just unveiled its latest regulatory refresh – FS25/2 – on 25th March 2025. For businesses operating in the consumer credit sector, this is more than just a policy update—it’s a chance to breathe easier as the FCA trims unnecessary complexity and sharpens its focus on outcomes-based regulation.  Let’s break...
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17
Aug

Consumer Fraud increases to 22.5% for the period 2020-2021

August 17, 2022
All of us have been aware of the increase in fraudulent attempts both in business and on consumers over the past 12 months.  YouGov writes: An Accenture report found that reported cases of consumer fraud increased from 6.8% to 22.5% during 2020-2021. According to the report, around 7% of the population across countries like the...
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25
Jul

FCA account forfeiture order secures £2 million from QPay Europe Ltd

July 25, 2022
On the 21st April 2022, the Financial Conduct Authority issued a press release regarding criminal proceedings against QPay Europe Ltd at Westminster Magistrate’s Court. QPay, a fintech start up firm offering due diligence and underwriting services, initially applied for regulation by the FCA in March 2020, however has now withdrawn their application for regulation. The...
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19
Jul

FCA review identifies weaknesses in financial crime prevention of challenger banks

July 19, 2022
On the 22nd April 2022, the Financial Conduct Authority released its outcome of a review into management of financial crime prevention measures in six unnamed challenger retail banks. While the review did identify some strengths in the regimes implemented by these challenger banks, a number of crucial weaknesses were also identified, raising concerns these weaknesses...
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08
Jul

FCA Implements Fees Cap for Claims Management Companies

July 8, 2022
Regulation of claims management companies has undergone some change in recent years, since their emergence in the media following the PPI scandal. The most recent change is implementation of a fees cap which has been under development by the Financial Conduct Authority since it began regulating CMCs in 2019. The Financial Guidance and Claims Act...
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