Therese Chambers News

The Financial Conduct Authority identified failings between June 2016 and December 2020 and said they occurred despite concerns being raised by junior staff as early as 2017, the regulator said today (12 November) in a statement. «Metro's failings risked a gap being left in our defence against the criminal misuse of our financial system. Those failings went on for too long,» said Therese Chambers, joint executive director of enforcement and market oversight at the FCA. Treasury expected to start looking for next FCA CEO – reports Metro said it had fully co-operated with the FCA and...

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Speaking at the FCA's annual meeting today (26 September), Therese Chambers, joint executive director of enforcement and market oversight, said all investigations from the regulator had been concluded, but the saga is still far from over more than five years on. Chambers explained that Woodford and Woodford IM were served a formal warning notice in April 2024. Friday Briefing: Woodford is right – Link has a lot to answer for This occurs after the FCA has finalised its investigations and has also provided the parties in question the opportunity to «engage with us to see if they are ...

The FCA, the Financial Conduct Authority, has revealed it has fined a subsidiary of Coinbase (CBPL) for offering services to high-risk customers.

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Coinbase's CB Payments Limited (CBPL) business does not offer crypto transactions but acts as a gateway for customers to make trades via other businesses within the group.In 2020, amid concerns about the unit's financial crime control framework, it entered a voluntary requirement that prevented it from taking on new high-risk customers.Despite this, says the FCA, CBPL onboarded or provided e-money services to 13,416 high-risk customers. Nearly a third of these customers deposited $24.9 million, which was used to make withdrawals and then make crypto transactions via other Coinbase entities, totalling approximately $226 million.The FCA says the breaches were the result of CBPL’s lack of due skill, care and diligence in the design, testing, implementation and monitoring of the controls put in place to ensure that the voluntary requirement was effective.Therese Chambers, joint executive director, enforcement and market oversight, FCA, says: "The money laundering risks associated with crypto are obvious and firms must take them seriously.

UK authorities have arrested two people suspected of running an illegal crypto exchange valued at over £1b ($1.3b).

In an interview with the FT, Therese Chambers, joint executive director of enforcement and market oversight at the Financial Conduct Authority, suggested the regulator was planning on naming firms it was probing earlier in the process in a bid deter firms from straying outside of the rules. Listings reform will not cure 'general disinterest and malaise' in UK capital markets According to the FT, the new approach will be outlined in a consultation paper set to be published today (27 February). It said the changes would largely apply to firms over individuals. «More transparency a...

The FCA said Huisamen also allowed promotions that gave a misleading impression that the mini-bonds were regulated.

Britain’s financial regulator has fined the American former chief executive of Barclays, Jes Staley, 1.8 million pounds — about $2.2 million — and banned him from holding senior financial roles for misleading it over the nature of his relationship with...

LONDON — Former Barclays CEO Jes Staley on Thursday was fined and banned from holding any position of influence in the U.K. financial services industry for misleading the regulator over his relationship with sex offender Jeffrey Epstein.

Jes Staley, former CEO of Barclays

The FCA opted for a censure, arguing it was inappropriate to impose a financial penalty on an insolvent firm.

Therese Chambers, joint executive director of enforcement and market oversight at the FCA

The United Kingdom’s Financial Conduct Authority, or FCA, has announced the inspection of sites across the country “suspected of hosting illegally operated crypto ATMs.”

Crypto ATMs are used to convert funds into crypto assets. They are unregulated by the FCA and therefore provide no protection to the user.