UK Libor trader Tom Hayes loses appeal against rate-rigging conviction – as it happened
The former star UBS and Citigroup trader was convicted of conspiracy to defraud by manipulating financial benchmark and served 5 1/2 years in prisonBritain’s financial regulator has identified shortcomings in how some motor insurance firms are valuing written-off or stolen vehicles.A review by the Financial Conduct Authority (FCA) has found evidence that suggests some firms are offering their customers less than their written-off or stolen vehicle is worth and, in some cases, are only increasing that offer when a customer complains.Having your vehicle written off or stolen can be intensely stressful and we expect firms to offer the right support to help their customers.We expect all motor insurers to take note of our findings and we are engaging directly with those that have issues that need to be addressed. Continue reading...
The former star UBS and Citigroup trader was convicted of conspiracy to defraud by manipulating financial benchmark and served 5 1/2 years in prison
Britain’s financial regulator has identified shortcomings in how some motor insurance firms are valuing written-off or stolen vehicles.
A review by the Financial Conduct Authority (FCA) has found evidence that suggests some firms are offering their customers less than their written-off or stolen vehicle is worth and, in some cases, are only increasing that offer when a customer complains.
Having your vehicle written off or stolen can be intensely stressful and we expect firms to offer the right support to help their customers.
We expect all motor insurers to take note of our findings and we are engaging directly with those that have issues that need to be addressed. Continue reading...
