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BBC News - Business

It is the latest strike in a long trade war, and comes after Canadian counter-tariffs on US goods come into force.
Posted: 09-09-2026
The Driver and Vehicle Standards Agency had been given a target to reduce average wait times to seven weeks.
Posted: 09-09-2026
It is the latest in a series of increasing warnings about the safety threat posed by artificial intelligence.
Posted: 09-09-2026
Departures from a number of airports are affected by a technical problem affecting air traffic control provider Nats.
Posted: 09-09-2026
Flights are cancelled owing to air traffic control problems, so what are your rights if you're affected?
Posted: 09-09-2026

Financial Conduct Authority (FCA)

The FCA has decided to ban Daniel Thomas from working in financial services and fine him £742,700 after finding he recklessly gave defined benefit pension transfer advice he was neither qualified nor allowed to give.
Author: FCA
Posted: 01-01-1970
Thousands of young adults could be sitting on a forgotten pot of savings as they head back to college and university. As students return to college and university this month, the FCA is urging young adults and parents to check whether they have a forgotten Child Trust Fund waiting to be claimed – potentially worth thousands of pounds.Figures from HMRC show that 760,000 matured Child Trust Funds, worth an average of £2,000 each, remain unclaimed. That means hundreds of thousands of young people could be missing out on money that could go towards new laptops, textbooks, rent deposits or the everyday costs of student life – or setting them up with savings for their future.Some companies, including those advertising on social media, are offering to 'find' and claim Child Trust Funds on people's behalf – often for a hefty fee or a cut of the final payout. The FCA has seen cases where customers were charged £400 to locate the account and even seen some firms charging a monthly subscription for a one-off tracing service. But missing funds can be traced for free without losing a penny to a middleman. Chris Knight, director of insurance at the FCA, said:'A Child Trust Fund can be a welcome source of extra cash at a time when many young people need it most. But you don't need to pay someone else to claim what's rightfully yours – tracing and accessing your own Child Trust Fund costs nothing, so think twice about handing over a chunk of your savings to a claims firm for a job you can do yourself.'Myrtle Lloyd, HMRC’s chief customer officer said: 'If you’re between 15 and 24, you could be sitting on a savings payout and not even realise it. Just search 'find my Child Trust Fund' on GOV.UK to find your savings account today.'How to check if you have a Child Trust FundAnyone aged 18 or over who was born between 1 September 2002 and 2 January 2011 could have a Child Trust Fund that they can access. Checking is straightforward and free:If you know which provider holds your Child Trust Fund, you can contact them directly to arrange withdrawal or transfer.If you're not sure where your account is held, you can use HMRC's free online tracing tool on GOV.UK to find out.You'll need to prove your identity to the provider, but there is no cost involved.Tracing a Child Trust Fund might be offered by firms who are regulated by the FCA, for example as claims management companies. But the tracing service itself is not an activity that generally needs FCA authorisation. This means firms offering this service may not be covered by the FCA’s cap on claims management fees and customers may not be able to take complaints to the Financial Ombudsman Service.FCA reviewThe FCA is also launching a review into Child Trust Funds. This will look at issues including cases where young adults cannot be contacted when they turn 18 and risk losing touch with their savings altogether. It will also look at how firms are ensuring Child Trust Fund customers receive fair value under the Consumer Duty, and whether there are barriers to vulnerable young adults accessing their money.This will report next year.Notes to editorsChild Trust Funds were available to children born between 1 September 2002 and 2 January 2011, with the scheme now closed to new applicants. Around 6.3m accounts were opened.Existing accounts will continue to mature until 2029, with young adults able to access them once they reach 18.Young adults can trace a lost Child Trust Fund for free using HMRC's online tool at GOV.UK.
Author: FCA
Posted: 01-01-1970
Four in 5 less experienced investors have used AI for help with investing – and around two-thirds report doing so occasionally or regularly. New research focused on 18- to 40-year-olds who own or are considering investments showed that 56% trust AI tools, more than TV and radio (47%), press (46%) or social media influencers (29%).And people are getting more comfortable, with two-thirds expecting to lean on AI even more over the next year.But the research from the FCA also revealed that these investors may be misunderstanding the level of protection if they rely on AI to support their investing decisions:Almost half (44%) mistakenly believe AI-generated financial information is regulated.More than 1 in 3 (38%) believe it’s fine to make an investment decision based solely on the outputs of AI.Around a third (32%) wrongly think they'd get compensation from the Financial Services Compensation Scheme (FSCS) or Financial Ombudsman Service if AI advice went wrong.But almost three quarters (73%) know that AI can provide inaccurate information. And 86% understood the need to check the sources referenced when using AI. It’s vital investors remember this when they’re using AI to research an investment.General purpose AI chatbots are not regulated, although tools which are specifically set up to provide financial advice would be likely to fall within the FCA’s remit.Lucy Castledine, director of consumer investments at the FCA, said:'AI can help you research companies, understand jargon or explore options before you make a decision.'But you need to understand how you’re protected and continue to use your own judgement. Our InvestSmart website can also help you make more informed decisions.'Here are 5 tips for using AI safely when it comes to your money:Stay in the driving seat. AI can inform your decisions, but the final call is yours.Check your sources. Ask the AI where it got its information from, then verify it yourself.Know there's no safety net. Unlike regulated financial advice, AI-generated tips from general-purpose chatbots mean you are not covered if things go wrong.Past performance is not a guide to future returns. AI can only provide you with historical data, it cannot predict how your investment will perform.Think long-term. Investing isn't a get-rich-quick scheme, whether the tip came from AI or your mate down the pub.Learn more about investing and risk on the FCA’s InvestSmart website.Notes to editors:General purpose AI tools are not regulated by the FCA. These tools can respond to a variety of prompts and topics but aren’t set up to help consumers with financial advice, research, or decision-making. This differs from a tool deployed specifically to provide financial advice, which would be likely to fall within our remit.This research was conducted by the FCA via the platform Attest using a quantitative usage and attitudes (U&A) study. The survey was conducted on 24 July 2026 to understand consumer adoption, trust, comfort, and future expectations regarding the use of AI tools for personal investment research and financial decision-making in the UK market.The sample comprised 666 respondents based in the United Kingdom, open to all adults across the 18 to 40 age range. All participants either currently own investments or would consider buying investments in the next 12 months.
Author: FCA
Posted: 01-01-1970
The FCA has decided to ban 3 former senior figures at Dolfin Financial (UK) Limited (Dolfin) after finding they ran a scheme that helped clients bypass UK visa rules. Former chief executive Denisz Nagy has been fined £324,800 and former finance director Sanjay Maraj £122,000 for their roles in the scheme. Both have been banned from working in financial services. The FCA has also decided to ban Dolfin co-founder, Roman Joukovski, from working in financial services. Between 2016 and 2019, most clients using the scheme paid a fee of £400,000 instead of investing £2m of their own money in UK companies, as required under the Home Office investor visa rules. The FCA found the scheme was deliberately designed to create the false impression that the visa requirements had been met. The scheme enabled at least 99 individuals to obtain investor visas and generated at least £35.5m in fees for Dolfin-connected businesses and the immigration agents that introduced clients.The FCA found that Mr Nagy and Mr Joukovski played leading roles in creating and operating the scheme, while Mr Maraj was responsible for the financial aspects once it was set up. Mr Nagy and Mr Maraj also deliberately concealed its true nature from the FCA and the Home Office. The FCA found that Mr Joukovski deliberately concealed from the regulator both his involvement with Dolfin and his role in the scheme. It also found that Mr Joukovski acted as a shadow director of Dolfin without FCA approval and was a controller of the firm without informing the regulator. Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said:‘Integrity is not optional in financial services. These individuals ran a scheme designed to get around the UK's investor visa rules, undermining their purpose of attracting genuine investment into the UK. They then sought to hide how it operated. We will continue to act against those who lack integrity and undermine trust in UK financial services.’Notes to editorsSee the Final Notice for Mr Nagy (PDF).See the Final Notice for Mr Maraj (PDF).See the Decision Notice for Mr Joukovski (PDF). On 12 March 2021, the FCA imposed restrictions on Dolfin to prevent it from carrying on any regulated activities, following a range of regulatory concerns, including its operation of the investor visa funding scheme. Denisz Nagy has been fined £324,800 and prohibited from performing any function in relation to regulated activities. He agreed to settle and received a 30% discount. Without the discount, the penalty would have been £464,000.Sanjay Maraj has been fined £122,000 and prohibited from performing any function in relation to regulated activities. He agreed to settle and received a 30% discount. Without the discount, the penalty would have been £174,300.Roman Joukovski has been issued with a Decision Notice imposing a prohibition order. He has referred the matter to the Upper Tribunal.The FCA found that all 3 individuals lack integrity and are not fit and proper to work in financial services. Dolfin entered special administration in June 2021, and the insolvency processes remain ongoing.The Home Office closed the Tier 1 investor visa route of entry to the UK from 17 February 2022.The Home Office has acted against many of the clients that used the scheme by refusing their applications for leave to remain and indefinite leave to remain in the UK.
Author: FCA
Posted: 01-01-1970
On 24 August 2026, EGR Wealth Limited (EGR Wealth) entered administration. Robert Goodhew and Geoff Bouchier of Kroll Advisory Limited were appointed joint administrators. The joint administrators are responsible for managing the affairs of the firm during the administration process. They are officers of the court and need to comply with all insolvency law.EGR Wealth is authorised by the FCA. It provided discretionary investment management services, managed client investment portfolios, and facilitated the transfer and administration of client investments.On 24 July 2026, EGR Wealth agreed to a voluntary requirement which restricted the activities it can carry out.Below we set out for customers:How to contact the joint administrators.Information about the administration.What to do if you are concerned about your investments.What to do if you have a complaint with the firm.How to protect yourself from fraudsters claiming to act on behalf of the firm, the joint administrators or the FCA.
Author: FCA
Posted: 01-01-1970