Chase de Vere fined 560k for Keydata sale failings
Chase de Vere Independent Financial Advisers has been hit with a fine of £560,000 over the sale of Keydata products.
FCA
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Good value products needed for small
Income drawdown is “unlikely to be suitable” for pensions under £50,000 in the current market, the Financial Conduct Authority’s (FCA) director of policy has said.
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Banks given record fines for FX failings
The Financial Conduct Authority (FCA) has imposed its largest ever fine on five banks for their “unacceptable behaviour” in failing to manage risks in G10 spot foreign exchange trading (FX).
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IFA jailed for stealing 200k from clients
A former financial adviser has been jailed for two years after “callously” conning clients out of almost £200,000
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Platforms making costly mistakes around
Platforms are making a costly mistake by failing to prepare themselves adequately for the Financial Conduct Authoritys (FCA) sunset clause deadline, warns Altus Consulting.
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Sesame fined more than 15m for undermining
The UK’s most complained about advisory firm, Sesame, has been fined over £1.5m for setting up a pay-to-play scheme which promoted the company’s own commercial interests over those of its clients.
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Barclays accused of betraying duties t
A Saudi businessmen is suing Barclays for $10bn in damages, claiming the company struck a secret settlement with the countrys government to further its own interests in the region.
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Holborn IFA faces ban and 290k fine in UK
An IFA who is currently employed by Holborn Assets in the UAE is facing a ban and £290,344 fine in the UK, after the FCA found he “recklessly” recommended high-risk investment products to clients.
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EEA accused of deliberately
EEA has been accused of deliberately withholding information after an action group discovered its troubled EEA Life Settlements fund is unlikely to repay outstanding portfolios.
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Adviser fined 900k fine and industry
A former chairman of PFC International has had his licence revoked and been fined $900,000 for mis-selling the EEA Life Settlements Fund to clients.
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EEA group slams FCA for victimising advisers
A group representing investors into the EEA Life Settlements Fund has criticised the FCA for continuing to harm advisers by encouraging complaints against them in its bombshell warning on the controversial fund last week.
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Regulators look to behavioural science
Many regulators around the world are now looking to behavioural science to better understand how investors really behave, according to John Price, commissioner for the Australian Securities and Investments Commission.