The Financial Conduct Authority (FCA) has found that over half of mortgage prisoners who would be eligible to switch to a new product using new rules published in late October last year are paying an interest rate of 3.5 per cent or lower. The FCA also found that It adds that of the 170,000 who are…

Water regulator, Ofwat has published its first report on water companies’ response to the new board leadership, transparency and governance principles. This is part of the regulator’s ongoing challenge for companies to act in the long-term interest of customers and the environment, and to demonstrate their commitment to the wider public interest they serve. The…

Payments technology company Acquired.com have been granted full PISP (Payment Initiation Service Provider) accreditation by the Financial Conduct Authority (FCA). The exciting milestone will allow Acquired.com’s clients to access ledger to ledger payment capabilities, providing them with real time direct transfers without the costs, delays and administration associated with traditional processes via card schemes and…

The Gambling Commission has announced a ban on gambling businesses allowing consumers to use credit cards to gamble. The ban, which comes into effect on 14 April, follows the Commission’s review of online gambling and the Government’s Review of Gaming Machines and Social Responsibility Measures. A public consultation was carried out between August and November 2019. Twenty-four…

The Information Commissioner’s Office (ICO) has fined DSG Retail £500,000 after a ‘point of sale’ computer system was compromised as a result of a cyber-attack, affecting at least 14 million people. An ICO investigation found that an attacker installed malware on 5,390 tills at DSG’s Currys PC World and Dixons Travel stores between July 2017…

Ofgem has launched an investigation into whether Utilita broke rules around charging customers above the permitted level of the price cap for prepayment meter customers, between May and September 2019. The Prepayment Meter Price Cap came into force on 1 April 2017. The cap is temporary, and applies to prepayment meter customers on a non-fixed…

The Financial Conduct Authority (FCA) and the Bank of England (Bank) have outlined their plans to develop their data and analytics capabilities. Both authorities depend on access to high-quality data to fulfil their respective missions of maintaining monetary and financial stability, market integrity, effective competition and consumer protection. The FCA’s refreshed Data Strategy sets out a transformation…

The Government has welcomed an independent review that recommends changes to the Loan Charge, while also confirming that it was a ‘necessary’ response to the tax avoidance schemes it was designed to tackle. The Review, led by Sir Amyas Morse, was commissioned to look at the impact of the charge, which was introduced to tackle…

Around eleven million customers have saved as much as £1 billion on their energy bills in 2019, according to new data to mark the first anniversary of the government’s energy price cap. Research has shown that the cap has saved families on default energy tariffs around £75 to £100 on dual fuel bills this year.…

The government has launched a new online service that will enable graduates to easily keep track of their student loan accounts as part of improvements to the repayment system. Millions of graduates will be able to bin their paper statements and access their student loan account online as part of a major revamp to the…

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