Financial Conduct Authority

Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Posts Tagged: Financial Conduct Authority

Barclays boss Staley fined $870,000 for trying to unmask whistleblower

Richard L. Cassin May 11, 2018

Barclays chief executive Jes Staley was fined £642,430 ($871,000) by UK regulators Friday for trying to identify an anonymous whistleblower who made allegations about Staley’s role in recruiting another employee.

The Financial Conduct Authority and the Prudential Regulation Authority said Staley failed to “act with due skill, care and diligence” by trying to hunt down the whistleblower.… Continue Reading

Tom Fox: Where are England’s whistleblowers?

Thomas Fox April 23, 2018

The case of Barclays chief Jes Staley attempting to unmask an anonymous whistleblower came to an almost imperceptible and silent ending recently when the UK’s Financial Conduct Authority concluded that Staley’s actions were not done intentionally but apparently with some other, lesser standard.… Continue Reading

UK financial regulator wrongly revealed name of RBS whistleblower

Richard L. Cassin January 17, 2018

An ombudsman for the Financial Conduct Authority said the agency should apologize to a former Royal Bank of Scotland employee after it revealed his name during a whistleblower investigation in 2013.… Continue Reading

Former Slaughter and May partner named chief of UK financial regulator

Richard L. Cassin January 8, 2018

The new chief of the regulator of the financial services industry in the United Kingdom is a former corporate finance partner at magic circle firm Slaughter and May.

Charles Randell was named chair of the Financial Conduct Authority on Friday.… Continue Reading

UK Regulator: Smart machines alone can’t defeat money laundering

Richard L. Cassin December 11, 2017

Rob Gruppetta, Head of the Financial Crime Dept. at the FCAArtificial intelligence will always be a “work in progress” in fighting money laundering and won’t entirely replace humans and their intuition, a top UK regulator said.… Continue Reading

UK fines former AXA insurance broker for false independence claims

Richard L. Cassin December 6, 2017

A broker formerly owned by the insurer AXA UK Plc was fined Wednesday for failing to disclose that it wasn’t independent but instead had a business strategy to sell AXA products.… Continue Reading

UK enforcement: FCA bans husband and wife for hiding offshore cash

Richard L. Cassin October 13, 2017

A husband and wife lied to authorities to conceal assets from a bankruptcy trustee after their financial advisory firm went bust and caused nearly £4 million ($5.25 million) in losses to customers.… Continue Reading

UK regulator rejects experienced compliance officer for ‘competence concerns’

Richard L. Cassin August 25, 2017

The Financial Conduct Authority refused to approve a compliance officer for an online trader despite almost 20 years of prior experience.

Rupert Nathan worked for Goldenway Global Investments. The firm’s main business is selling foreign exchange and commodity products to retail clients.… Continue Reading

UK enforcement: Charging Barclays is a good first step to ending corporate impunity

Rahul Rose and Sue Hawley June 22, 2017

Until the SFO announced its charges against Barclays, not a single UK bank or individual had faced criminal prosecution for their role in the financial crisis of 2008.

The financial crisis and the recession that resulted is the root cause of the austerity measures that are causing such deep damage to the UK’s public bodies, including local councils, the National Health Service, fire departments and schools.… Continue Reading

UK charges Barclays, four former executives for Qatar fund raising

Richard L. Cassin June 20, 2017

The UK Serious Fraud Office brought criminal charges Tuesday against Barclays Plc and four individuals for offenses allegedly committed when the bank sought huge loans from sources in Qatar during the 2008 financial crisis.… Continue Reading

Former UBS compliance officer charged with insider trading

Richard L. Cassin June 8, 2017

Britain’s market regulator charged a former UBS Group AG compliance officer with five counts of insider trading.

Fabiana Abdel-Malek, 34, allegedly passed tips to a London man between June 2013 and June 2014 who traded on the information, Bloomberg reported.… Continue Reading

DOJ creates new job in London at SFO, FCA

Richard L. Cassin December 12, 2016

The DOJ said Friday it has created a new position for a lawyer who’ll be seconded to the UK for two years to collaborate on financial fraud and foreign bribery cases.… Continue Reading