Saga looks horribly exposed as hedge fund Elliott buys 5% stake

Over-50s specialist vulnerable to having its insurance arm split away from its cruise operationThis fight looks unfair. In one corner stands Elliott Advisors, the UK end of an aggressive $34bn US hedge fund that can often be found telling FTSE 100 firm…

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City watchdog admits investment rules too complex for staff

Angry investors at public meeting demand answers from FCA over financial scandals that have lost their moneyThe City watchdog has admitted that its rules are so complex that even its staff may not understand which investment products come under its jur…

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HSBC credit card compensation bill could rise to £11m

HSBC extends scheme to extra 18,500 customers overcharged on debt paymentsHSBC is expected to pay out millions more in compensation to credit card customers who were overcharged when they fell behind with payments. The bank has already paid out around …

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Facebook warned Libra cryptocurrency will come under close scrutiny

UK financial regulator highlights concerns over consumer protection and privacy Facebook’s plans for a global cryptocurrency, Libra, will warrant close scrutiny by governments across the world, according to one of the UK’s most senior financial regulat…

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Financial regulation is costly and complex – time for a big tech solution

Cryptocurrencies, new payment systems and digital banking all signal a financial revolution that needs better oversightBanking supervision teams at the Bank of England “now receive the equivalent of twice the entire works of Shakespeare of reading each…

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The FCA – a watchdog too nice and chummy to bark or bite

Outgoing boss tells MPs why regulator couldn’t do much about one claim of wrongdoing after anotherNobody fears the Financial Conduct Authority. Nobody fears its genial boss, Andrew Bailey. Not really. Or at least not enough to worry about doing jail ti…

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