Latest news with #FinancialConductAuthority
Associated Press
5 hours ago
- Business
- Associated Press
Ecora Resources PLC Announces 2024 Final Dividend: Amounts Per Ordinary Share
2024 Final Dividend: Amounts per ordinary share in Sterling and Canadian Dollar LONDON, UK / ACCESS Newswire / July 2, 2025 / Further to the approval by shareholders at the Company's Annual General Meeting on 5 June 2025 of the final dividend for 2024 of 1.11c per ordinary share, the equivalent of the final dividend, in Sterling is 0.8086 pence per share and in Canadian Dollars is 1.5158 Canadian cents per share based on exchange rates of US$1=£0.7285 and US$1=C$1.3656. The US$:£/C$ conversion rates were determined by the prevailing rates on Friday 27 June 2025, being the record date for the final dividend. The payment date of the 2024 final dividend is Friday 25 July 2025. For further information: This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit SOURCE: Ecora Resources PLC press release
Yahoo
13 hours ago
- Business
- Yahoo
UK watchdog to extend non-financial misconduct rules beyond banks
LONDON (Reuters) -Britain's Financial Conduct Authority is to extend rules covering non-financial misconduct such as bullying and discrimination to beyond the banking industry, it said on Wednesday. The UK watchdog will also oversee how finance firms handle "serious, substantiated cases of poor personal behaviour", information that will be shared through regulatory references in the same way financial misconduct currently is. That will make it harder for individuals to avoid consequences by moving from firm to fir, the FCA said. The rules for non-financial misconduct will be extended to around 37,000 other regulated firms from 1 September 2026. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
13 hours ago
- Business
- Reuters
UK watchdog to extend non-financial misconduct rules beyond banks
LONDON, July 2 (Reuters) - Britain's Financial Conduct Authority is to extend rules covering non-financial misconduct such as bullying and discrimination to beyond the banking industry, it said on Wednesday. The UK watchdog will also oversee how finance firms handle "serious, substantiated cases of poor personal behaviour", information that will be shared through regulatory references in the same way financial misconduct currently is. That will make it harder for individuals to avoid consequences by moving from firm to fir, the FCA said. The rules for non-financial misconduct will be extended to around 37,000 other regulated firms from 1 September 2026.
Daily Mail
13 hours ago
- Automotive
- Daily Mail
Car finance lender quits market after commissions scandal sparks industry upheaval
Secure Trust Bank plans to cease activity in the motor finance market to focus on more profitable business after the sector was rocked by a commissions scandal. A watershed Court of Appeal ruling last October declared that lenders could not hand car dealers commissions without a customer's informed consent. Until 2021, most vehicle purchases involved the use of discretionary commission arrangements, which enabled dealerships and brokers to set the interest rate on a buyer's finance agreement. This incentivised brokers to charge consumers higher rates, regardless of other factors, such as the loan's value, length of agreement, or a customer's credit score. The Court of Appeal's decision has left the vehicle finance industry worried it might be hit with a huge compensation bill. Ratings agency suggests the sector could end up paying £30billion, while one senior Financial Conduct Authority lawyer estimates it could surpass the £50billion banks paid to settle PPI claims. Following an appeal against the October court decision, the Supreme Court is set to bring a final judgement on the matter sometime this month. Secure Trust told investors on Wednesday its commercial banking firm is halting all lending within the motor finance segment and allowing the existing portfolio to run off. It claimed the move 'reflects the historical financial performance and medium-term outlook' of the vehicle finance division, which incurred a £21.8million loss before tax and exceptional items last year. STB believes the pivot would have increased its adjusted pre-tax profits in 2024 from £39.1million to £56.6million and its return on average equity by 800 basis points. The Solihull-based company hopes to eliminate over £25million of operating costs by 2030 from running down its motor finance loan book. Over the same timeframe, 284 positions will be at risk of redundancy, including 78 this year alone. The lender intends to redirect capital to more 'higher-returning' businesses, including retail finance, commercial finance, and real estate finance. David McCreadie, chief executive of STB, said the 'pivot will allow the group to prioritise these established specialist businesses and achieves further simplification of the group, combined with the removal of a significant level of costs. 'These measures will have a material positive impact on ROAE for the group and will position the group to being capital accretive.' 'We will be consulting with impacted colleagues to explain why this pivot in our strategy will drive the future sustainable success of the group.' Secure Trust Bank shares were 6.8 per cent up at 852p on Wednesday morning and have climbed by around 140 per cent since the year started.
Bloomberg
a day ago
- Business
- Bloomberg
Ex-Mizuho Bond Traders Lose Bid to Lift UK Bans Over Spoofing
A trio of ex- Mizuho International Plc government bond traders accused by the UK's City watchdog of market abuse lost their bid to challenge their ban from financial services. Diego Urra, Jorge Lopez Gonzalez and Poojan Sheth had sought to challenge the Financial Conduct Authority, which said the three engaged in manipulation by spoofing the market. The men were accused of placing large 'misleading' orders for certain trades that they had no intention of executing in the weeks before and after the Brexit vote in 2016.
