Day: December 19, 2024

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today launched a consultation on draft Guidelines related to the Internal Control Framework for some of its supervised entities. The proposed draft Guidelines build on the Internal Control Guidelines currently in place for Credit Rating Agencies and extend them to …

ESMA consults on the Internal Control Framework for some of its supervised entities Read More »

Colbourne & Company (FRN: 125003) is a sole trader and is authorised and regulated by the FCA. The firm has a range of permissions which include: assisting in administration of insurance arranging deals in investments making arrangements advising (ex Pension Transfers/Opt outs) advising on P2P agreements On 23 June 2022, we placed restrictions on Colbourne …

Colbourne & Company declared in default by Financial Services Compensation Scheme Read More »

Collateral offered peer-to-peer style investments. Its directors were able to fraudulently change details about the firms’ public entry on the FCA’s interim permission register. This change made it look like the firm held interim permission from the FCA to undertake consumer credit activities, which were granted to firms who transferred from the OFT to the …

FCA apologises to Collateral investors Read More »

The FCA has set out plans to simplify the information supplied to investors to boost confidence and drive investment. Under the current rules, introduced across Europe when the UK was in the EU, people buying investments like investment funds are supplied with standardised documents covering prescribed information. In practice these documents were often complex, unclear, …

Rule changes proposed by FCA to boost investment Read More »

The extension will help prevent disorderly, inconsistent and inefficient outcomes for consumers and firms. We have extended the time firms have to respond to complaints about motor finance agreements not involving a discretionary commission arrangement (DCA). Firms now have until after 4 December 2025 to provide a final response to non-DCAs, in line with the …

Firms given until December 2025 to respond to motor finance commission complaints Read More »

Ausfinancial Pty Ltd, trading as Swoosh Finance (Swoosh), allegedly breached its responsible lending obligations when providing credit contracts to 11 consumers, according to civil penalty proceedings filed by ASIC in the Federal Court. ASIC also alleges that Swoosh breached its design and distribution obligations by failing to review its target market determinations and continuing to …

ASIC takes action against Swoosh alleging responsible lending failures and DDO breaches Read More »