The FCA is analysing the information banks and building societies have provided in regards to the value of their saving products, with updates to be published this autumn, alongside a 14-point action plan for ensuring people can access a competitive savings market.
The FCA has found that while some fund managers have better practices in place, some still require improvement in value assessments for investors, with boards and senior managers responsible for ensuring they are focused on offering better value for money.
The number of interest-only and part-interest-only mortgages have halved since 2015, with those remaining encouraged to speak to their lenders about repayment plans.
The Travel Rule is a requirement for cryptoasset businesses in the UK to collect, verify and share information about cryptoasset transfers mandated by money laundering legislation in July 2022.
The FCA has appointed Clare Woodman, Matt Hammerstein and Mandy Gradden to lead the Markets Practitioner Panel, Practitioner Panel, and Listing Authority Advisory Panel respectively, with a view to better representing firms, markets and consumers.
The FCA has imposed a Confiscation Order of £562,636 against Richard Faithfull following his conviction in 2021 for laundering proceeds from overseas investment frauds, with the funds to be used to compensate victims.
The FCA has issued a 14-point action plan to ensure banks and building societies are passing on interest rate rises to savers appropriately, while also working to promote competition in the cash savings market.