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FCA fines Tesco Bank £16.4m for failures in 2016 cyber attack
The Financial Conduct Authority (FCA) has fined Tesco Personal Finance plc (Tesco Bank) £16,400,000 for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cyber attack. The cyber attack -
Financial Conduct Authority publishes Decision Notice concerning Linear Investments Limited
The Financial Conduct Authority (FCA) has today published a Decision Notice concerning Linear Investments Limited. Linear failed to take reasonable care to organise and control its affairs responsibly and effectively to ensure potential instances of -
The FCA announces outcome of investigation into 4 life insurance companies
The Financial Conduct Authority (FCA) has today announced that its remaining investigations into firms, following its thematic review into the fair treatment of longstanding customers in the life insurance sector, have each been closed. -
Michael Nascimento sentenced to 11 years’ imprisonment in FCA prosecution of £2.8m investment fraud
Michael Nascimento was today sentenced to 11 years’ imprisonment for his role in a share fraud carried out through a series of boiler room companies which led to the loss of more than £2.8 million of investors’ money. He was the controlling -
The Financial Conduct Authority bans former Deutsche Bank trader, Christian Bittar
The Financial Conduct Authority (FCA) has banned Christian Bittar from performing any function in relation to any regulated financial activity. -
FCA appoints new Director of Competition
The Financial Conduct Authority (FCA) has appointed Sheldon Mills as its new director of competition. Sheldon is currently senior director, mergers and state aid at the Competition and Markets Authority (CMA). -
Five sentenced in FCA prosecution of £2.8m investment fraud
Operation Tidworth was the FCA’s second largest ever criminal prosecution. The instigator and main beneficiary of the fraud, Michael Nascimento, will be sentenced separately on 14 September 2018. -
Wonga enters administration
As required by law, the joint administrators wrote to all known creditors on 26 October 2018 providing them with their proposals for administration, which were approved on 9th November 2018 -
FCA commences criminal prosecution against Mark Starling in relation to an unauthorised investment scheme
The FCA has commenced a criminal prosecution against Mark Barry Starling for three offences relating to unauthorised investment schemes alleged to have been operated between 1 August 2008 and 25 April 2017. -
Regulators warn public of pension scammer tactics as victims report losing an average of £91,000 in 2017
A new campaign to tackle pension scams launches today as the latest figures reveal that victims of pension scammers lost an average of £91,000 each in 2017.