All the updated news related to financial service

All the news related to financial service updated in real time

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Financial advisers fined £1m for advice which cost customers £50m

Five men will have to pay more than £1 million between them for “reprehensively” betraying the interests of customers who went to them for financial advice, the City watchdog has said. A tribunal upheld the decision of the Financial Conduct ...

09 May 2022 at 14:25

Personal Finance

Fee cap for claims management firms comes into force

People using claims management firms will be protected from excessive amounts of their compensation being swallowed up by fees, under new rules. The changes brought into force on Tuesday by the Financial Conduct Authority (FCA) will cap ...

01 Mar 2022 at 12:55

Local News

Tipperary lodged 126 complaints to Financial Services and Pensions Ombudsman last year

The office of the Financial Services and Pensions Ombudsman received 126 complaints from people in Tipperary in 2021, according to its latest overview of complaints. While the overview does not detail the type of complaints received ...

29 Mar 2022 at 14:33

City

Many pension savers do not know whether they have protection if a firm goes bust

Two-fifths of pension savers have never checked whether their money is protected by a body which compensates people when firms go bust. Some 40% of those saving into a pension have not checked whether their pension is protected by ...

26 Jan 2022 at 01:26

City

Cashback in shops ‘not enough on its own to plug gaps in fragile cash system’

Nearly half of people are unlikely to request cashback at the till in shops and such initiatives will not be enough on their own to plug gaps in the UK’s “fragile” cash system, according to Which? A survey carried out for the ...

18 Jan 2022 at 01:26

Personal Finance

British Steel pensioners had a ‘gun to the head’ says former watchdog Bailey

The former boss of the City watchdog has said that British Steel pensioners had a gun to their head as they made one of the most complex financial decisions of their lives. Andrew Bailey, who now leads the Bank of England, ...

14 Jun 2022 at 10:05

Personal Finance

New rules to prevent claims managers gaining if linked to past poor conduct

New rules preventing claims management companies (CMCs) from being paid to help in cases where they are connected to a customer losing out in the first place will come into force next month. The changes, introduced from ...

07 Jun 2022 at 14:31

City

Woodford investors to share £235m compensation payment

About 300,000 investors who lost out when Neil Woodford’s investment fund started to unravel are set to be paid compensation of up to £235 million from the fund’s administrator after a deal with the City watchdog. The ...

20 Apr 2023 at 12:14

Personal Finance

Fraud ‘remains persistent threat to businesses, consumers and economic growth’

Fraud remains a persistent threat to businesses, consumers and the growth of the economy, not to mention the reputation of the UK, according to a banking and finance industry trade association. Criminal gangs are ...

13 Oct 2022 at 16:18

Personal Finance

Financial Services Compensation Scheme slashes levy it expects firms will pay

A lifeboat scheme which compensates customers when financial firms go bust has slashed the total levy amount that it expects will be paid by the industry. The Financial Services Compensation Scheme (FSCS) is ...

25 May 2023 at 13:06

City

MPs launch inquiry into sexism in the City after sector rocked by scandals

A group of MPs have launched a probe into sexism and misogyny in the City after recent months have unveiled sexual assault allegations by female staff members at influential businesses. The Treasury ...

14 Jul 2023 at 11:41

Personal Finance

Banks will be required to reimburse APP scam victims from next year

New rules compelling banks to reimburse scam victims who have been tricked into paying fraudsters will come into force next year, a regulator has said. Most victims of authorised push payment (APP) ...

07 Jun 2023 at 15:58

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