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Whistle-blower reports submitted to FCA rise by 24% in 13 months to hit 1,755 mark

BDO LLP states that the total number of whistle-blower reports to the Financial Conduct Authority (FCA) has risen by 24% in the last year to attain an overall figure of 1,755 for the year ending 31 December 2018. That’s up from 1,420 in 2017. There was a 105% increase in...
Posted On 04 Mar 2019
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FCA issues warning on investment scams following £197 million reported losses in 2018

The Financial Conduct Authority (FCA) is warning investors to be vigilant concerning the threat posed by investment scammers, with the latest data from Action Fraud revealing over £197 million of reported losses in 2018. Victims were scammed out of over £29,000 on average last...
Posted On 15 Feb 2019
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Mitie announces £14 million deal to acquire Vision Security Group from Compass

Mitie Group plc has agreed to acquire Vision Security Group Limited (VSG), a wholly-owned subsidiary of Compass Group plc. VSG is a leading security services provider offering integrated security systems, security guarding and key holding services. The business operates with a...
Posted On 08 Oct 2018
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Financial Conduct Authority fines Tesco Bank £16.4 million 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 that took place in November 2016....
Posted On 01 Oct 2018
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Reports to Action Fraud result in jail terms for £1.7 million investment fraudsters

Five men who were part of an investment fraud scam that tricked more than 70 innocent people into handing over a total of £1.7 million have been jailed for a total of 14 years. Detectives from the Metropolitan Police Service launched an investigation into a company called Taylor...
Posted On 10 Mar 2017
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Richard Kingston convicted and sentenced for destroying bribery and corruption evidence

On Monday 21 December 2016, an individual charged in connection with an ongoing Serious Fraud Office (SFO) bribery and corruption investigation was found guilty by a Jury of two destruction of evidence offences, contrary to Section 2(16) of the Criminal Justice Act 1987. Richard...
Posted On 03 Jan 2017
The Financial Conduct Authority has published new rules on whistleblowing
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Financial Conduct Authority introduces new set of rules on whistleblowing

Alongside the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA) has published new rules in relation to whistleblowing. These changes follow recommendations in 2013 by the Parliamentary Commission on Banking Standards that banks put in place mechanisms...
Posted On 13 Oct 2015
Brian Sims BA (Hons) Hon FSyI: Editor of Risk Xtra
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In Total Control?

Robust financial benchmarks play a significant role in the global economy and impact a multitude of monetary instruments and contracts used by companies, Governments and consumers. It’s somewhat worrying, then, that the Financial Conduct Authority’s (FCA) thematic review of...
Posted On 17 Aug 2015
Firms still have to do further work to identify the full range of their benchmark activities and improve their management of the associated risks
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FCA review finds companies still failing to fully manage benchmark risks

According to the Financial Conduct Authority’s (FCA) thematic review of oversight and controls of financial benchmarks, companies still have further work to address in order to identify the full range of their benchmark activities and improve management of the associated risks....
Posted On 30 Jul 2015
Michael Sicsic: joining the Financial Conduct Authority
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Michael Sicsic joins Financial Conduct Authority to focus on retail sector insurance

Michael Sicsic is moving from his position as group risk director with Aviva plc to join the Financial Conduct Authority (FCA), where he’ll take up the role of head of department for general insurance focused on the retail sector. As a condition of this new appointment,...
Posted On 09 Jun 2015