More than 40% of the 353 advisory firms embroiled in the Arch Cru redress scheme have now been referred on to the Financial Services Compensation Scheme (FSCS), the Financial Conduct Authority (FCA) has confirmed.
The Financial Conduct Authority (FCA) has revised its application fees for firms seeking full consumer credit authorisation, after it realised that small firms were facing "significant barriers to entry" due to cost.
The financial services industry needs to tackle its "complexity problem" to make it easier for consumers to understand product choice and protect the most vulnerable, the regulator has said.
The Financial Ombudsman Service (FOS) has hired trend forecaster the Future Foundation to conduct a review of the ombudsman's role in the changing world of financial services.
Firms must learn from the mistakes of their peers to avoid falling foul of the regulator's rules and its increasing willingness to dish out large fines, a consultancy has warned.
Barclays is to face another payout, of £100m, this time for a paperwork blunder that led to 300,000 customers being overcharged, according to reports.
The Financial Conduct Authority (FCA) has appointed a former member of the Lloyds TSB Retail Banking board as senior adviser on consumer lending.
Some 14 payday lenders have confirmed they are planning to exit the market following a crack down on their practices by trading watchdogs.
The Financial Conduct Authority has secured agreements from banks to introduce a payment retry system, which could save consumers £200m a year in late payments.