Britain’s markets watchdog has ordered more than 1,000 banks, insurers and brokerages to report how many sexual harassment, discrimination and other non-financial misconduct cases they have recorded since 2021 and how they have dealt with them. The Financial Conduct Authority …
Britain’s financial watchdog on Monday proposed toughening up safeguards against the illegal marketing of financial products on social media by applying a stringent “consumer duty” that is being rolled out to banks, funds and insurers on July 31. The Financial …
The European Union set out plans on Wednesday to cut how much retail investors pay banks and insurers for financial products to encourage investment and make its capital market deeper and more efficient. The retail investment package toughens up existing …
European Union plans to increase protections for consumers of financial services are reigniting a long-simmering power battle between national and EU regulators that could hamper how the tougher safeguards will be enforced. The European Commission, the EU’s executive body, on …
The UK is to set to ban cold calls that sell financial products including insurance and cryptocurrencies in an effort to crack down on fraud, which costs the country around £7 billion ($8.7 billion) a year. Announcing its new fraud …
Three of Australia’s “big four” banks settled separate class action lawsuits for A$126 million ($84.51 million) with Slater & Gordon, who took the banks to court two years ago over sale of credit insurance products, the companies said on Monday. …
Financial firms may be fined and stripped of their regulatory authorization unless they put their customers’ needs first under far-reaching reforms from the UK City regulator. Banks, insurers and other companies will have to ensure their services are actually good …
The Financial Conduct Authority (FCA) has levied a fine of £7,881,700 against insurance broker JLT Specialty Ltd. for financial crime control failings, which in one instance CFA said allowed bribery of more than $3million to take place. JLT Specialty, which …
UK insurers are adjusting to new pricing rules for personal motor and household premiums, which could bring some pricing volatility in the coming months as insurers struggle with the implementation. The rules, which went into effect on Jan. 1, are …
Australia’s corporate regulator said on Friday it was suing MLC Life Insurance for causing financial harm of A$17.5 million ($12.73 million) to over a quarter million customers by not paying benefits and charging premiums without notice. MLC is a part …
