Financial Conduct Authority

We've fined Barclays Bank UK PLC and Barclays Bank PLC a total of £42million for separate instances of failings in its financial crime risk management – one relating to WealthTek and one relating to Stunt & Co. The consequences of poor financial crime controls are very real. We'll continue to supervise firms to improve standards and ensure they have the right systems and controls to fight financial crime. https://lnkd.in/gsXTpazj #FightingFinancialCrime #FinancialRegulation #FinancialServices

We’re working with the Financial Ombudsman Service to modernise the redress system. We want it to better support consumers and give stability for firms to invest and innovate. Following feedback, we’re also consulting on guidance to help firms better spot and stop harm from complaints. Respond to our Consultation by 8 October 2025 https://lnkd.in/eN6jgHXm #FCAGrowth #FinancialRegulation #FinancialServices

We’re partnering with Government to promote the UK as the destination of choice for financial services, by helping international firms: • Set up, expand and invest in the UK. • Navigate the UK regulatory landscape. • Access a range of support services to innovate and scale. Read to find out more https://lnkd.in/euXWWmRN #FCAGrowth #EconomicGrowth #FinancialServices #FinancialRegulation

Our new Handbook website is now available in beta. 💻 The redesigned site is simpler to navigate and search. The current Handbook is still available while we test the new site. https://lnkd.in/eeuPHMNx #FCAHandbook #SmarterRegulator #FinancialRegulation #FinancialServices

We are working at pace at the Financial Conduct Authority to deliver around 50 growth initiatives this year. The 3 routes we have identified to achieve this are by: supporting growth in the wider economy, increasing productivity within financial services, and strengthening international competitiveness. Read about our growth plans… #FCAGrowth   #FinancialServices   #FinancialRegulation

We’ve updated our guidance on how financial services firms should treat politically exposed persons (PEPs). A PEP is someone entrusted with prominent public functions, either in the UK or internationally. In this guidance, we: • Clarify who, in the UK context, should not be treated as a PEP. • Reflect changes to the Money Laundering Regulations 2017. • Update requirements for senior management sign-off on PEP business relationships. Read more: https://lnkd.in/e4sh5GWt #FinancialServices #FinancialRegulation

In the past year we've: • Reduced and prevented serious harm. • Set and tested higher standards. • Promoted competition and positive change. Read our Annual Report and Accounts https://lnkd.in/degrnR8T #FinancialRegulation #FinancialServices

To build on 10 initiatives we've delivered since January to support growth, we'll review our client categorisation rules to unlock more opportunities for investors. Our work so far includes: ➡️More flexible regulation ➡️Unlocking investment ➡️Accelerating innovation ➡️Helping firms set up and grow ➡️Promoting the UK Find out more https://lnkd.in/dys8uDDn #FCAGrowth #FinancialServices #FinancialRegulation

Nicholas Hills shares details of the case against siblings Redinel and Oerta Korfuzi, who were sentenced to a combined 11 years in prison for insider trading and money laundering. 🔍 What is insider trading? It’s the buying or selling of shares based on confidential information. ⚖️ Why is this a problem? Fair markets rely on all investors having access to the same information. When people trade based on confidential information, they're abusing trust and gaining an unfair advantage for themselves.  The Korfuzis abused that trust, and now they’re behind bars. We’re now taking action to recover the money they made. #FightingFinancialCrime #FinancialRegulation

We’ve fined Monzo Bank Ltd £21,091,300 for its inadequate anti-financial crime systems and controls between October 2018 and August 2020. Monzo also repeatedly breached a requirement preventing it from opening accounts for high-risk customers between August 2020 and June 2022. Banks are a vital line of defence in the collective fight against financial crime. We’ll continue to supervise firms to improve standards and ensure they have the right systems and controls to manage financial crime risks. https://lnkd.in/e--xCDzG #FightingFinancialCrime #FinancialServices #FinancialRegulation