FCA outlines process for dealing with insistent clients
The UK’s financial watchdog has published a paper outlining whether an adviser would be liable for losses when dealing with clients who insist on taking action against their advice.
FCA
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SIPP provider burden eased in new rule change
The Financial Conduct Authority has succumbed to pressure from SIPP providers to make the calculation of capital easier and less costly when new rules comes into force in September next year.
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FCA strengthens risk, oversight with two key hires
The Financial Conduct Authority has taken another step toward the full implementation of its new strategic approach, announcing on Friday a number of internal promotions and two key hires.
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Review urged to curb ‘unreasonable’ regulatory costs
An urgent review is needed to avoid “unreasonable” regulatory costs and levies on UK-based financial advisers, according to the Personal Finance Society.
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Fraudster gang faces jail terms over £4.3m UCIS losses
Eight fraudsters face a combined total of 26 years’ imprisonment after the UK’s Financial Conduct Authority found they lost over £4.3m of investors’ money in their unauthorised collective investment scheme (UCIS).
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FCA plans to fine Keydata’s Ford £75m
The Financial Conduct Authority has decided to fine Stewart Ford, a former director and chief executive of Keydata Investment Services, £75m for failing to act with integrity and misleading the regulator.
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Holborn adviser faces UK ban for UCIS mis-selling
A financial adviser currently employed by Holborn Assets in the UAE has been fined and banned in the UK after the Financial Conduct Authority found him guilty of knowingly recommending inappropriate, high risk products to retail clients.
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APFA calls for FCA budget freeze to stem fee rises
The Association of Professional Financial Advisers (APFA) has called for a freeze in the Financial Conduct Authority’s (FCA) budget for the next two years to give its members a break from having to meet its steadily rising fees.
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Holborn Assets enters UK with two offices
Dubai-based financial advisory group Holborn Assets has launched two offices in the UK as it looks to take advantage of the “incredible growth opportunities” in the region’s post-retail distribution review international business.
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FCA to increase adviser fees by 10
The UK Financial Conduct Authority has outlined plans to increase the adviser regulatory levy by 10% to reach nearly £75m.
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FCA proposes extension of inducement
The Financial Conduct Authority has proposed extending the inducement standards set out by the Markets in Financial Instruments Directive II (MiFID II) to those providing restricted advice and to discretionary managers.
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FCA to make annuity providers rank their products
Annuity providers in the UK will be required to rank their product against their competitors in order to help consumers find out if they can get a better deal by shopping around.