Fca

Court orders financial watchdog to halt parts of £9.1bn scheme until challenges are heard, delaying payoutsBusiness live – latest updatesThe UK’s financial watchdog has been forced to partly suspend its £9.1bn car finance compensation scheme, delaying payouts for millions of motorists.The Financial Conduct Authority had expected the scheme would this year start paying out £830 on average to those affected by the motor finance scandal, in which drivers were overcharged for loans as a result of commission payments between lenders and car dealers between 2007 and 2024. Continue reading...

• The African American Film Critics Association (AAFCA) announced the winners of its eighth annual AAFCA TV Honors and the annual TV Top 10 list. • The awards celebrate the most outstanding achievements in television and streaming for the year. • This year's ceremony expanded its scope by introducing two new competitive categories: Best Reality Series and Best Podcast.

• The 2026 AAFCA TV Honors have announced their top winners, with the series 'Paradise' leading the awards. • Key individual honors were awarded to acclaimed actors Sterling K. Brown and Jurnee Smollett, while 'Abbott Elementary' also secured a headline win. • These awards recognize excellence in television, highlighting the most impactful performances and productions of the year.

• Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA), has warned that the rapid evolution of artificial intelligence is outpacing the ability of lawmakers and regulators to create effective legislation. • The warning highlights a critical gap between the speed of AI technological advancement and the slower, traditional pace of regulatory frameworks. • This disparity matters because it creates potential risks in the financial sector where outdated laws may fail to address new AI-driven challenges.

Regulator launched inquiry amid concerns that firm made misleading statements about origins of wood pelletsBusiness live – latest updatesThe City watchdog has closed an investigation into the power generator Drax, after an almost 10-month review into the sourcing of wood pellets for its biomass power station.The Financial Conduct Authority said it had “reviewed thousands of pages” but that it “did not find evidence that justified any further action”. Continue reading...

Complaints-led approach could pile £6bn of extra costs on to lenders, says City watchdogBusiness live – latest updatesThe City watchdog has warned that a wave of legal challenges to the compensation scheme for victims of the motor finance scandal could leave drivers waiting three more years for payouts, while piling £6bn of extra costs on to lenders.Bosses at the Financial Conduct Authority (FCA), who have consistently hit out at lenders and a consumer claims group for challenging its scheme, told MPs the scandal could affect lenders for years, and have “consequences” by stretching its resources. Continue reading...

Former investment star was banned from holding senior manager roles after collapse of popular equity fund The UK financial regulator is taking legal action against the former investment star Neil Woodford for allegedly offering unauthorised investment advice online, months after being banned from the City.The Financial Conduct Authority said it was seeking an injunction against Woodford and W4.0, a United Arab Emirates-registered company, to stop them carrying out “potentially unlawful activities”. Continue reading...