Phoebe Seers

London

Reporter at MLex Market Insight

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Articles

UK sanctions watchdog talks tough on enforcement but lacks bite

1 week ago | mlex.com | Phoebe Seers |Martin Coyle

By Phoebe Seers and Martin Coyle ( May 8, 2025, 15:54 GMT | Comment) -- The UK’s sanctions enforcer took to its blog today to get across the message of how seriously it takes non-compliance with information requests. A recent penalty that OFSI imposed on Svarog Shipping & Trading was heralded as a signal of the importance in responding to to it quickly and comprehensively. The only problem?
Overseas stablecoin issuers will need to be UK-regulated, Reynolds says

1 week ago | mlex.com | Phoebe Seers

By Phoebe Seers ( May 6, 2025, 11:42 GMT | Insight) -- Stablecoin issuers established outside the UK will need to be authorized and regulated there if they wish to interact with UK consumers, the minister for financial services Emma Reynolds said today, contradicting the widely accepted interpretation of legislation published last week.
UK payments regulator faces crucial legal test in November

2 weeks ago | mlex.com | Phoebe Seers

By Phoebe Seers ( May 2, 2025, 09:29 GMT | Insight) -- A key challenge against the UK Payment Systems Regulator's powers to impose a price cap has been set for two days in November, MLex has learned.
UK payments regulator to consult on fraud data-sharing requirements

2 weeks ago | mlex.com | Phoebe Seers

By Phoebe Seers ( May 1, 2025, 14:54 GMT | Insight) -- Payments providers will see a consultation on new data-sharing requirements aimed at tackling fraud published in the UK later this year, MLex has learned.
Relief for UK crypto industry as legislation lands and US collaboration promised

2 weeks ago | mlex.com | Phoebe Seers

By Phoebe Seers ( April 30, 2025, 12:19 GMT | Comment) -- The UK cryptoasset industry breathed a collective sigh of relief yesterday afternoon with sight of long-promised legislation laying the path toward a regulated sector. It broadly met industry expectations and contained a few mostly welcome changes. The announcement of UK-US collaboration on digital assets and a potential trans-Atlantic digital sandbox also brought some reassurance to a UK industry fearing the US running ahead.
UK FCA set to publish first ‘Enforcement Watch’

2 weeks ago | mlex.com | Phoebe Seers

By Phoebe Seers ( April 28, 2025, 13:04 GMT | Insight) -- Financial services providers in the UK could soon see the first iteration of the “Enforcement Watch” — an anonymized disclosure of behaviors identified that are serious enough to warrant an investigation by the Financial Conduct Authority.
UK FRC reconsiders investigation announcements after FCA climbdown

3 weeks ago | mlex.com | Phoebe Seers

By Phoebe Seers ( April 22, 2025, 14:44 GMT | Insight) -- The UK’s Financial Reporting Council has announced a review of its processes for publicly disclosing the opening of investigations into auditors suspected of breaching standards. The FRC is reviewing its “end-to-end enforcement process,” as part of an effort to become a more “proportionate” and effective regulator.
EY’s Post Office audits come under UK regulatory probe

1 month ago | mlex.com | Phoebe Seers

By Phoebe Seers ( April 16, 2025, 07:11 GMT | Insight) -- EY’s audits of the Post Office have come under investigation by the UK's Financial Reporting Council. The FRC said it was probing audits running from 2015 to 2018, focusing on matters related to the Horizon IT system, notwithstanding the fact that such audits wouldn't normally fall under its remit.EY’s audits of the Post Office have come under investigation by the UK audit watchdog.
UK regulators commit to open banking, open finance milestones

1 month ago | mlex.com | Phoebe Seers

By Phoebe Seers ( April 14, 2025, 14:39 GMT | Insight) -- The coming months and years will see the implementation of a series of measures under the open banking and open finance banners in the UK.
Lloyds Bank under renewed pressure over business-customer fraud claims

1 month ago | mlex.com | Phoebe Seers

By Phoebe Seers ( April 7, 2025, 10:30 GMT | Comment) -- Major UK lender Lloyds Bank has endured broad criticism for its handling of a major episode of fraud at HBOS — despite it occurring before Lloyds bought the struggling rival bank in 2008.