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At the beginning of July, the Bank of England (BoE) and Financial Conduct Authority (FCA) gave notice to the UK's financial institutions that they had three months in which to produce reports on how they avoid IT failures and mitigate cyber-attacks. [ABSTRACT FROM AUTHOR]

Statistics are presented from a survey by Great Britain's Financial Conduct Authority on financially vulnerable people in countryside as compared to their urban counterparts in Great Britain, dependence on a State Pension, and dependency on bank visits.

The article reports that Tesco Stores Ltd. has entered into a voluntary agreement with the Serious Fraud Office (SFO) to settle an alleged profit overstatement. It states that the company is required to pay £ 129 million worth of fines for overstating its profits from February to September 2014. It mentions that the company has also agreed with the British Financial Conduct Authority (FCA) to establish a compensation scheme for shareholders and bond holders.

The article reports that the Royal Bank of Scotland (RBS) has announced to pay 400m pound for the automatic refund of complex fees and a dedicated complaints process for small and medium enterprises (SMEs) that were managed by the bank's Global Restructuring Group (GRG) during 2008-2013. The move comes as a report was released by the Financial Conduct Authority (FCA), which investigated complaints from SME customers.

The article offers information on a review of treatment of small business customers by Great Britain Financial Conduct Authority.

The article offers information on an investigation against Great Britain based retailer Tesco for its payment methods with suppliers. Topics discussed include views of Christine Tacon, of the Groceries Code adjudicator (GCA), on a warning against Tesco, an internal investigation into the profit-overestimate of Tesco being conducted by the professional services firm Deloitte, and an investigation by Great Britain's Financial Conduct Authority against Tesco.

The article reports that Christine Tacon, the Groceries Code Adjudicator, has asked the firm Tesco, grocery and general merchandise retailer, to evaluate its behaviour towards suppliers during an investigation of the firm's profit overestimate. Topics discussed include the payment method of the retailers with the suppliers, the Financial conduct Authority of Great Britain investigating the retailer, and competition in grocery market.

The article reports on the Financial Conduct Authority of Great Britain imposing a record 28 million pounds fine to Lloyds bank for its sales practices.