Advisers working overtime to meet regulation requirements
Two out of five UK advisers are working longer hours in 2017 due to business growth, increased compliance and regulatory requirements, research from Prudential has found.
Compliance
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Jersey and IoM join 19 jurisdictions rated ‘compliant’ by OECD
Jersey and the Isle of Man have topped the Organisation for Economic Cooperation and Development’s compliance table for the exchange of tax information.
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FCA finds compliance officer with 20-yr record unfit for role
The Financial Conduct Authority has refused to let a compliance officer with nearly 20 years of experience carry out certain controlled functions on behalf of online trader Goldenway Global Investments.
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FCA fines compliance officer for pension transfer failings
The UK watchdog has fined a compliance oversight officer after two companies he worked for gave unsuitable advice to around 500 customers who transferred £12.7m ($16.4m, €13.6m) out of their DB pension schemes.
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Zurich to support UAE advisers adapt to regulatory changes
Zurich has launched a programme to help financial advisers and intermediaries in the UAE prepare for and implement the upcoming regulatory changes to the country’s life insurance industry.
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Globaleye hires compliance officer as UAE rules tighten
Dubai-headquartered IFA firm Globaleye has hired a regulatory compliance expert to ensure the company meets the rapidly growing demands of watchdogs in the countries where it operates worldwide.
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Regulatory costs the biggest challenge facing advice firms
Regulatory and compliance costs will be one of the biggest threats to financial advice businesses in the UK over the next three years, the Personal Finance Society’s (PFS) 2016 Member Survey found.
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Offshore firms hit worst by increased compliance demands
Compliance requirements are a greater burden offshore, driving up client charges and forcing some firms to turn away business, research from Step has found.
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Dubai regulator fines two directors for wilful AML breaches
The Dubai Financial Services Authority (DFSA) has fined two former bank directors for wilfully breaching the regulator’s anti-money laundering (AML) rules.
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Deloitte launches regulatory and investor reporting service
Business advisory firm Deloitte has launched a new service targeting investment managers, banks and insurance firms struggling to navigate the growing wave of complex marketing regulations and tax rules.
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Complaints software launched to help firms with changing FCA rules
A software provider has unveiled a new version of its complaints management programme to help UK advisory firms stay compliant to continually changing regulations.
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RDR compliant reports creating headache
Producing RDR compliant investment reports for clients is a major concern for the majority of wealth managers, a new survey has revealed.