Financial Conduct Authority



Payment freeze for car finance and high cost credit products extended

The Financial Conduct Authority (FCA) has confirmed that motor finance customers, those paying for high-cost credit products such as buy-now pay-later (BNPL), rent-to-own (RTO) and pawnbroking customers can receive a payment freeze until October this year if they are facing payment difficulties due to COVID-19.

Published 3 July 2020

Payment freeze for credit card and personal loans to continue

The Financial Conduct Authority (FCA) has confirmed that payments on credit card, personal loans and other revolving credit products will remain frozen for a further three months for those who are still experiencing temporary payment difficulties due to coronavirus.

Published 1 July 2020

Payday lender Sunny goes into administration

Elevate Credit International Limited (ECIL), a payday lender which sold loans under the Sunny brand, has gone into administration in the UK with Ed Boyle and David Pike of KPMG appointed as administrators of the firm.

Published 30 June 2020

Huge increase in UK residents purchasing cryptoassets

New research by the Financial Conduct Authority (FCA) has found that 2.6 million people in the UK have purchased cryptoassets at some point, marking a 1.1 million increase in buyers since last year.

Published 30 June 2020

FCA seeks industry views on a new prudential regime for UK investment firms

The Financial Conduct Authority (FCA) is seeking views on establishing a new prudential regime for UK investment firms.

Published 25 June 2020

FCA launches pensions value for money consultation

The Financial Conduct Authority (FCA) has launched a consultation on proposals that are designed to promote value for money for the members of workplace personal pension schemes.

Published 24 June 2020

FCA reminds cryptoasset businesses to register before end of June

The Financial Conduct Authority (FCA) is reminding businesses which carry out cryptoasset activity in the UK, that they have to be registered with the FCA to comply with new regulations.

Published 23 June 2020

Nikhil Rathi appointed as new chief executive of FCA

Nikhil Rathi has been appointed as the new permanent chief executive of the Financial Conduct Authority (FCA). 

Published 22 June 2020

FCA extends credit card payment freeze

The Financial Conduct Authority (FCA) has announced that credit card, store card, catalogue credit and personal loan customers will be allowed to defer repayments for a further three months. 

Published 19 June 2020

FCA to make mini-bond marketing ban permanent

The Financial Conduct Authority (FCA) has announced proposals to make permanent its ban on the mass-marketing of speculative illiquid securities, including speculative mini-bonds, to retail investors.

Published 18 June 2020

FCA: Firms must act to ensure they are giving appropriate equity release advice

Firms must do more to ensure they are always giving appropriate advice to equity release consumers, a review conducted by the Financial Conduct Authority (FCA) has found. 

Published 17 June 2020

FCA fine Lloyds Bank, Bank of Scotland and The Mortgage Business £64m for mortgage arrears failures

The Financial Conduct Authority (FCA) has fined Lloyds Bank, Bank of Scotland and The Mortgage Business a total of £64,046,800 for failures in relation to their handling of mortgage customers in payment difficulties or arrears.

Published 11 June 2020

FCA outlines steps to improve defined benefit pension transfer market

The Financial Conduct Authority (FCA) has set out a package of measures designed to address weaknesses across the defined benefit (DB) transfer market.

Published 5 June 2020

FCA: Insurance firms must consider impact of coronavirus when assessing value of products

The Financial Conduct Authority (FCA) has said that insurance firms must consider the impact of coronavirus when assessing the value of their insurance products.

Published 3 June 2020

FCA advises three month extension to mortgage support

The Financial Conduct Authority (FCA) has confirmed that holiday payments for mortgage customers will be extended until the end of October this year in a bid to combat the financial impacts of the coronavirus crisis. 

Published 2 June 2020