FCA must take action over record number of complaints about financial companies

1 month ago

UK’s New Fraud System Handles Just 10 Cases Since Launch

-- A new platform to reimburse victims of online payment scams in the UK has processed just 10 claims since its launch last year, a sign that the regulator behind the new initiative has struggled to get the problem under control. The PSR’s managing director Chris Hemsley abruptly left in June, while Sky News reported last week that the government …

Payment System Psr

1 month, 1 week ago

Four banks fined £100m over chat room messages

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Four banks — including HSBC …

Bank Banks Hsbc Cma Four Banks

1 month, 1 week ago

Time Out losses widen as it blames UK and US elections for slowing ad sales

The Independent

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Time Out Blames Uk

1 month, 2 weeks ago

Water firms appeal to watchdog for higher customer bill increases

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In December, sector regulator Ofwat said it would allow …

Water South Bill Southern Water Ofwat Water Firms South East Water

1 month, 3 weeks ago

Financial ombudsman to charge claims management firms £250 to refer a case

The Independent

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Financial Complaints Cases Charge Case Service Free

1 month, 3 weeks ago

Number of misleading financial ads removed by watchdog doubled last year

The Independent

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Misleading Financial Fca

1 month, 3 weeks ago

UK to get new cyber attack severity rating system

The Independent

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Events Help Cyber Free Breaking Cmc Cyber Events

1 month, 4 weeks ago

Financial watchdog in ‘denial’ of problems claim MPs in fresh criticism

The Independent

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Parliament Fca Blackman Mr Blackman

1 month, 4 weeks ago

Britain hands £67m Brexit contract to firm at centre of Post Office IT scandal

The Independent

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Contract Independent Customs British Union Red Post

2 months ago

Govt to fund private research on early fraud warning, use of IPO funds

Live Mint

New Delhi: The Central government will finance research by private entities on a host of issues meant to provide insights into policy making, including early warning of corporate frauds and how companies use funds mobilized from the public. The idea is to “better utilise the repository of corporate sector data available with the ministry under the MCA2I e-governance system, with …

Corporate Data Fund Ministry Mca Policy Making Early Fraud

2 months ago

HSBC to wind down parts of investment banking units in UK, Europe and US

The Independent

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Sign Hsbc Uk Europe Banking Operations

2 months ago

Only twice in history have more UK companies issued profit warnings than last year

The Independent

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Profit Last Year Uk Companies Profit Warnings

2 months, 1 week ago

Google steps up fight against fake reviews after UK probe

The Hindu

Google will do more to tackle fake reviews, including sanctioning UK businesses and people involved in manipulating star ratings, Britain's competition regulator said on Friday following a lengthy investigation. The U.S. tech giant has also committed to putting "warning" alerts on the profiles of British businesses that used fake reviews to boost their ratings, the Competition and Markets Authority said …

Google Reviews Cma Fake Reviews

2 months, 1 week ago

What’s Sebi’s score: Increasing investor complaints test regulator’s redressal system

Live Mint

Mumbai: The rising interest in India’s equity markets has brought with it an attendant problem the regulator is grappling with—a pile-up of investor complaints related to issues such as unauthorised trading, delayed payments, discrepancies in account statements, and mis-selling. Launched in 2011, the Sebi Complaints Redressal System is a web-based, centralized platform to receive investor complaints on issues with listed …

Data Cases Investors Month Sebi Saxena Mint

2 months, 1 week ago

Scams and fraud expected to account for a third of cases taken to finance ombudsman this year

The Independent

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Fraud Scams Cases Scam Service

2 months, 2 weeks ago

Regulator must show its teeth over some practices by insurers, says Which?

The Independent

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Consumer Claims Meet Consumers Fca Firms Regulator

2 months, 2 weeks ago

Lloyds to close second UK office and cut roles as part of major shake-up

The Independent

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Lloyds Roles Second Office

2 months, 2 weeks ago

Lloyds bankers could face bonus cuts unless they turn up to office at least two days a week

The Independent

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Office Bank Staff Lloyds

2 months, 3 weeks ago

Optimism among finance firms weakens as they brace for cost hit, finds CBI

The Independent

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Cbi Firms Free Breaking

3 months ago

What the papers say – December 26

The Independent

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Several Boxing Day newspapers feature images of members of the …

3 months, 1 week ago

Up to a third of Aim-listed firms ‘vulnerable to takeover’ in 2025

The Independent

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Peel Hunt

3 months, 1 week ago

FCA extends car finance complaints deadline as lenders scramble

Daily Mail

The City watchdog has extended the deadline for motor finance lenders to respond to complaints regarding historic commissions on car loans. The Financial Conduct Authority has granted motor finance companies until 4 December 2025 to offer a final response to non-DCA complaints, just as it has done with complaints concerning DCAs. Extension: The FCA has granted motor finance companies until …

Finance Complaints Fca Motor

3 months, 1 week ago

City watchdog extends motor finance complaints deadline to next December

The Independent

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Finance Appeal Court Complaints Commission Consumers Fca

3 months, 2 weeks ago

Revealed: Brexit has reduced UK exports by £27bn, new report claims

The Independent

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Brexit Exports Report Cent Sign Firms Tca

3 months, 2 weeks ago

Entain sued by Australian regulator over money laundering allegations

The Independent

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Allegations Ctf Entain

3 months, 2 weeks ago

New consumer complaints platform will let you file cases, attend hearings online

Live Mint

New Delhi: The department of consumer affairs is preparing to launch a “future-ready" platform to redressing consumer grievances through a new e-Jagriti app and an updated portal, which is expected to streamline the resolution of complaints, two people aware of the matter said. The platform aims to offer a seamless and user-friendly experience, allowing consumers to file complaints, track their …

Consumer Complaints Cases Consumer Affairs Consumer Complaints App Platform

3 months, 2 weeks ago

Currys warns Budget will lead to ‘inevitable’ price rises due to £32m of extra costs

The Independent

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Budget Currys

3 months, 2 weeks ago

Insurers must report claims data in greater detail to improve accountability

Live Mint

The Insurance Broking Association of India recently published a report on general insurance claims, which includes a simple comparison of various insurers’ claims performance across a range of metrics. Some time ago, a standalone health insurer suddenly started rejecting all health insurance claims that were outside its cashless network to manage its losses. The claims settled by value for the …

Business Insurance Report Insurer Insurers Ratio Claims Performance

3 months, 3 weeks ago

What ails the health insurance industry

Hindustan Times

Murders usually stoke a rush of sympathy for the victim and her/his family, as it should. Social media comments played on standard responses in customer care when one tries to reach a health insurance firm, with one person tweeting: “I submitted a claim for my condolences but it was denied”. All four PSU firms paid more than 70% of the …

Health Data Health Insurance Claims Sector Private Irdai

3 months, 3 weeks ago

Business confidence slides to almost two-year low after Budget

The Independent

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Business Budget Bdo

3 months, 3 weeks ago

Quiz plunges after warning over need for extra funding

The Independent

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Million Next Year Quiz

3 months, 4 weeks ago

London’s FTSE 100 loses ground as UK service sector growth slows

The Independent

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London Sign Ftse

3 months, 4 weeks ago

Foreign firms spend £7.8bn buying up UK businesses

The Independent

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Deals Billion Firms Free Breaking Previous Quarter Uk Firms

3 months, 4 weeks ago

FTC opens Microsoft antitrust investigation that Trump administration must carry on or drop

The Independent

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Investigation Trump Antitrust Microsoft Khan Ftc

4 months, 1 week ago

Govt seeks to induct more firms into its grievance redressal mechanism

Live Mint

New Delhi: With the rise in consumer grievances, the Department of Consumer Affairs has stepped up its efforts to resolve issues more efficiently. The National Consumer Helpline has expanded its convergence programme, partnering with over 1,000 companies across sectors like e-commerce, travel, banking, FMCG, and automobiles to speed up the resolution of consumer complaints, the department said in a statement …

India Consumer Complaints Companies Grievance Nch

4 months, 1 week ago

Private sector output shrinks for first time in more than a year

The Independent

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Budget Private Sector

4 months, 1 week ago

Third of bank transfer fraud victims ‘now avoid new ways of managing money’

The Independent

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Fraud Money Victim App Psr Fraud Victims

4 months, 1 week ago

TRAI takes strong action to combat spam calls in India, over 13,000 entities register for message traceability measure

Live Mint

The Telecom Regulatory Authority of India has taken several decisive steps to tackle the ongoing issue of spam calls and SMS, reporting significant progress in reducing complaints and enhancing message traceability. In a move to clamp down on unauthorised promotional calls, TRAI issued directives on 13th August 2024 mandating stringent actions against violators. To improve the traceability of promotional messages, …

India 2024 Message Spam Calls Trai

4 months, 2 weeks ago

Frequency and Severity of Large Cyber Claims Continue to Climb

LA Times

As Allianz Commercial has warned in its annual cyber risk outlook, the frequency of large cyber claims in the first six months of 2024 was up 14% while severity increased by 17%. “The growing significance of data breach losses among cyber insurance claims is driven by a number of notable trends,” explained Michael Daum, global head of cyber claims at …

Privacy Large Breach Litigation 2023 Data Cyber Claims

4 months, 2 weeks ago

Watch: Reeves pledges to rip up red tape as post-2008 crash regulation ‘gone too far’

The Independent

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Financial Services

4 months, 2 weeks ago

Which? launches £3 billion legal claim against Apple over ‘forced’ iCloud use

The Independent

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Apple Claim Indytech Customers Icloud

4 months, 2 weeks ago

A $21 bn question in UK: Should buyers decide whether car dealers get commission from financing banks?

Firstpost

The Financial Conduct Authority in Britain has been pressing the Supreme Court to expedite a decision to allow lenders to appeal a crucial judgment that could possibly pave the way for a multi-billion pound consumer redress scheme linked to motor finance commissions Financial Conduct Authority's logo is seen at their head offices in London, Britain. Britain’s Financial Conduct Authority is …

Finance Consumer Commission Banks Britain Fca

4 months, 2 weeks ago

NatWest blocks employees from speaking on WhatsApp and Facebook Messenger

The Independent

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Whatsapp Natwest Ofgem Facebook Messenger

4 months, 2 weeks ago

Major bank fined after failings that left millions of customers at risk

The Independent

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Bank Metro Bank

4 months, 2 weeks ago

Will YOUR work ban WhatsApp next? As NatWest stops staff from using the messaging system in an effort to meet compliance rules, could other financial firms soon follow suit

Daily Mail

One of Britain's biggest banks has blocked its staff from using Whatsapp, Skype and Facebook at work leading to questions over whether other firms will soon follow suit. NatWest has taken action in an effort to stick to rules over workers' use of unauthorised electric messaging as well as avoid hefty fines. It comes after the issue reached boiling point …

Work Whatsapp Firms Natwest

4 months, 3 weeks ago

Government stake in NatWest falls to 11.4% after bank buys back £1bn of shares

The Independent

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Treasury Share Stake Natwest Natwest Group Full Privatisation

Oasis fans falling for ticket scams have lost £346 on average, major bank finds

The Independent

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Social Media Scams Bank Ticket Scams Ticket Oasis Lloyds

5 months ago

UK factory activity shrinks for first time since April

The Independent

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Manufacturing First Time

5 months ago

GB News fined £100,000 by Ofcom for breaking impartiality rules over Rishi Sunak interview

The Independent

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Rules Ofcom Gb News Rishi Sunak Impartiality Rules

FCA must take action over record number of complaints about financial companies

History of this topic

Issues with mass financial complaints to be put under spotlight

Influencers charged over promoting financial investments to followers

FCA defends ‘name and shame’ proposals after backlash from City and Government

Watchdog begins probe into number of customers ‘debanked’ by big banks

7.4m people ‘have made failed attempts to contact financial services providers’

Complaints about financial firms up 60%, says ombudsman

Millions in UK are vastly overcharged for insurance, regulator finds

Under fire FCA gets back on front foot with overdraft crackdown

Banking scandals continued throughout 2018. It simply isn’t good enough

Complaints to financial firms hit record level, City watchdog reveals

PPI claims hit a four-year high as complaints deadline looms

World's 'big four' accounting firms face £10m fines for serious breaches

Lenders accused of sharp practice, high pressure sales, dodgy commission payments in damning critique by FCA

Is it a bird? Is it a plane? No, it's accountancy watchdog the FRC being proactive for a change

FCA branded ‘inadequate’ as MPs call for new bank watchdog

PPI insurance claim management companies pocketed £5bn from scandal that could happen again, MPs warn

Tracey McDermott: FCA chief defends stopping bank review

Another day, another let-off for the banks from our regulators

PPI drives surge in complaints to Financial Ombudsman

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