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1 week 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.
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2 weeks 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.
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3 weeks ago | 
mlex.com | Phoebe Seers |Sofia Gerace
By Phoebe Seers and Sofia Gerace ( March 31, 2025, 10:18 GMT | Insight) -- The Bank of England’s regulatory arm has proposed raising the deposit protection limit of the Financial Services Compensation Scheme, or FSCS, which pays out when a bank or building society fails, to 110,000 pounds.
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3 weeks ago | 
mlex.com | Phoebe Seers
By Phoebe Seers ( March 31, 2025, 09:32 GMT | Insight) -- Banks and payment providers in the UK will soon be asked to provide metrics to financial services regulators on the levels of “on us” Authorized Push Payment fraud they are reimbursing, MLex has learned. “On us” fraud occurs when the victim and the fraudster use the same bank.
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1 month ago | 
mlex.com | Phoebe Seers |Martin Coyle
By Phoebe Seers and Martin Coyle ( March 24, 2025, 11:12 GMT | Insight) -- Former trader Tom Hayes, convicted of rigging the benchmark Libor interest rate a decade ago, sees his long fight to clear his name arrive at the UK’s highest court tomorrow. The former UBS and Citibank trader had his case dismissed by the Court of Appeal in April 2024.
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1 month ago | 
mlex.com | Phoebe Seers
By Phoebe Seers ( March 20, 2025, 10:59 GMT | Insight) -- The London Metal Exchange has been fined 9.2 million pounds by the UK financial watchdog over failures that led to it suspending its nickel market and cancelling trades following a massive spike in prices in March 2022. In its first enforcement action against a regulated investment exchange, the Financial Conduct Authority said the LME should have been better prepared to address the serious risks posed by extreme volatility.
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1 month ago | 
mlex.com | Phoebe Seers
By Phoebe Seers ( March 20, 2025, 08:31 GMT | Insight) -- The UK’s financial services minister Emma Reynolds, as well as key lawmakers, have been urged to make the Financial Conduct Authority abandon its upcoming plan to start automatically deleting e-mails that are at least a year old.
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1 month ago | 
mlex.com | Phoebe Seers
By Phoebe Seers ( March 19, 2025, 14:43 GMT | Comment) -- Responses to a recent consultation on a future UK regulatory regime for cryptoassets show the industry is divided on whether the Consumer Duty, which requires firms to secure good outcomes for consumers, is enough in itself to do away with the need for prescriptive rules.
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1 month ago | 
mlex.com | Phoebe Seers
By Phoebe Seers ( March 18, 2025, 11:28 GMT | Insight) -- More details of the pilot digital bond have been published today by the UK's finance ministry as it seeks input from potential suppliers and financial services firms on the design and technology to support its issuance.
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1 month ago | 
mlex.com | Phoebe Seers
By Phoebe Seers ( March 17, 2025, 12:18 GMT | Insight) -- Crispin Odey, founder of the eponymous asset manager, has been fined more than 1.8 million pounds and banned from working in the UK’s financial service industry for obstructing his firm’s internal probe into allegations of sexual harassment. The decision comes just after the regulator has postponed till June new rules that would make it easier for regulated firms to sack staff that behave inappropriately at work.
