State of the Netherlands nationalises SNS REAAL
The Minister of Finance, in close consultation with De Nederlandsche Bank (DNB), has nationalised SNS Reaal. Savings deposits of clients are secure and the service provision of SNS REAAL has been safeguarded. The intervention has averted grave threats to financial stability and the economy. Source
Read MoreDutch minister of Finance makes offer for compensation due to the nationalisation of SNS REAAL
The Dutch minister of Finance makes an offer for compensation due to the expropriation of shares and subordinated debt of SNS REAAL and SNS Bank. The offer amounts to €0,- for both the expropriated shares as well as the subordinated debt. Source
Read More
Growth of private markets requires continued focus on valuations
The FCA's review of private market valuation processes has found good practice but some room for improvement. Private markets have grown significantly in recent years with the UK continuing to be the largest centre for private market asset management in Europe.Private market assets don’t have the frequent trading
Read MoreMartyn Beauchamp appointed as CEO of FSCS
The FCA and the Prudential Regulation Authority (PRA) have appointed Martyn Beauchamp as CEO of the Financial Services Compensation Scheme (FSCS). Martyn has been interim CEO of the FSCS since October 2023, and during this time he has successfully overseen the FSCS’s transition to a new operating model.
Read MoreFCA bans former Credit Suisse executives following US criminal convictions
The FCA has banned Andrew Pearse and Surjan Singh from the UK financial services industry. The former Credit Suisse managing directors have been banned for lacking integrity, following US convictions for arranging corrupt loans to the Republic of Mozambique.In July 2019, Mr Pearse pleaded guilty in the US
Read MoreOlumide Osunkoya sentenced to 4 years for illegally operating crypto ATM network
Olumide Osunkoya, 46, was sentenced on 28 February 2025 to 4 years in prison for illegal crypto activity worth over £2.5m and associated offences. Mr Osunkoya pleaded guilty on 30 September 2024 to 5 charges.Between 30 December 2021 and 12 March 2022, Mr Osunkoya operated crypto ATMs at
Read MoreAsset Land investors asked to get in touch
We have received limited funds to compensate investors in Asset Land companies. Investors should get in touch with us by 25 March 2025. We successfully took legal action againstAsset Land companies and their directors, David Banner-Eve and Stuart Cohen, following an investigation into unlawful activity in 2012. After
Read MoreThe Gordian knot of growth
Speech by Nikhil Rathi, chief executive, at the Association of British Insurers roundtable. Thank you, Hannah, for the invitation. I must confess to a degree of trepidation: I read your ABI Dinner speech, where you called for Alexander the Great’s sword to be raised over regulators, and for
Read MoreFCA charges two individuals with multiple fraud charges
The FCA hasstartedcriminal proceedings againstKerry Nelsonand Jacqueline Stephensforalleged fraud,forgery, and money laundering. Kerry Nelson was director of both Nexus Independent Financial Advisers Limited (Nexus IFA) and Nexus Investment Managers Limited (Nexus IM). Jacqueline Stephens was business operations manager at the same firms.Ms Nelson and Ms Stephens have been
Read MoreHelping markets thrive and managing systemic risk: the FCA’s approach to non-bank leverage
Speech by Sarah Pritchard, executive director of markets, at the Investment Association Roundtable. At this time of year, it’s almost impossible not to think about spring. Warmer weather, a bit of sun. It’s always a joy to see the world come back to life after a dull, grey
Read More