The Financial Conduct Authority (FCA) has announced a new strategy to shut down “problem firms” that do not meet basic regulatory standards. Bosses at the regulator said they are concerned that the cost-of-living crisis could see households turn to lenders in greater numbers to manage their finances. The three-year plan will see 80 new staff…
UK Financial Conduct Authority Plans Faster Response Against ‘Problem Firms’
NatWest Money Laundering Case Linked to Second Criminal Trial, Prosecutors Say
LONDON—Criminal money laundering charges against British state-backed bank NatWest are linked to a separate case against 13 individuals based in cities across the country, prosecutors have told Reuters. Britain’s financial regulator, the UK Financial Conduct Authority (FCA), started a criminal action against NatWest on Tuesday, making it the first bank to be charged under a…
Britain’s NatWest Bank Faces Money Laundering Charges
LONDON—Britain’s financial regulator has started a criminal action against NatWest over allegations it failed to detect suspicious activity by a customer depositing nearly £400 million ($553 million) over five years, mostly in cash. The action is the first such case against a British bank under a 2007 money laundering law. If convicted, the bank faces…
Fiat Chrysler, Peugeot Get Green Light for $52 Billion Carmaker
PARIS/MILAN—Fiat Chrysler (FCA) and PSA said on Monday that investors had given their blessing to a $52 billion merger to create the world’s fourth largest automaker, and shares in the new company, named Stellantis, would start trading in two weeks. With annual production of around 8 million vehicles worldwide and revenues of more than 165…
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