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Britain's watchdog fines Metro Bank $20 million for control failings
Britain's Financial Conduct Authority (FCA) has fined Metro Bank 16 million pounds ($20.51 million) for failings in its anti-money laundering controls, in the latest blow to the struggling mid-sized lender.
Metro Bank fined £17mn for anti-money laundering control failings
Metro Bank has been fined almost £17mn by the UK financial watchdog for failing to fix “serious deficiencies” in an automated system to check transactions for potential money laundering until four years after it was installed.
Metro Bank fined £16.6m for failings over money laundering checks
Metro Bank fined £16.6m for failings over money laundering checks - The lender, which has about three million UK customers, failed to check for money laundering on millions of transactions up to 2020.
Metro Bank fined £16.7m by FCA for financial crime control failures
Metro Bank has been fined almost £16.7m after a City watchdog probe found historic failures in the lender's money laundering checks.
1d
UK watchdog urges Supreme Court to act as $21 billion motor finance scandal looms
Britain's Financial Conduct Authority is pressing the Supreme Court to expedite a decision to permit lenders to appeal a ...
American Banker
1d
U.K. pressures big tech as bank resiliency struggles
The Financial Conduct Authority plans to regulate specific technology products that banks use to process payments and require testing. That and more in our global payments roundup.
Car Dealer Magazine
17h
Martin Lewis says car finance scandal could double in size as FCA extends scope of investigation
Money saving expert Martin Lewis has once again weighed into the car finance crisis, claiming that the scandal could be about ...
Moneyweb
34m
Another trading scam – iXPFX.com
iXPFX is just another platform offering risky derivative instruments on currencies, indices, shares and commodities (at best) ...
3d
on MSN
Ministers face succession headache at financial watchdogs
The Treasury faces the prospect of kicking off the hunt for new chief executives at both the FCA and PRA within months amid ...
LBC
9h
Rachel Reeves to 'rip up financial red tape' with pension 'mega funds' freeing up £80 billion for investment
Ms Reeves has written to the
Financial
Conduct
Authority
, Prudential Regulation Committee,
Financial
Policy Committee ...
JD Supra
1d
Retail banking and consumer finance: UK FCA portfolio letters highlight 2025 supervisory priorities
The Financial Conduct Authority (FCA) is turning its thoughts to the year ahead in publishing a series of portfolio letters focusing on its ...
1d
Starmer Plans to Leave Scrutiny of Shein IPO to UK Regulator
The UK government plans to leave scrutiny of Shein’s pursuit of a stock listing in London to the country’s financial ...
4h
on MSN
Mini-bond firm London Capital & Finance was just a Ponzi scheme, rules judge
London Capital & Finance raised £237m from around 11,600 individual investors, promising them healthy returns from the sale ...
Central Banking
22h
Cyber Resilience Initiative: UK Financial Conduct Authority and World Economic Forum
The initiative has been recognised as the first global effort to co-ordinate industry and regulatory transition to quantum ...
1d
November Global Regulatory Brief: Digital finance
As technology continues to reshape financial services, regulators and policy setters are embarking on a range of ...
cryptonews
10h
UK to Introduce Stablecoin Regulations and Exempt Staking Services: Report
The UK government plans to introduce new laws for stablecoins and staking as part of its broader UK crypto regulation ...
U.S. News & World Report
1d
UK Markets Watchdog Softens 'Overcooked' Naming and Shaming Plan
LONDON (Reuters) - Britain's
Financial
Conduct
Authority
(FCA) on Wednesday softened proposals to publicly name some ...
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