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.
FCA
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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.
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FCA urges EEA investors to register complaints
In a highly unusual step, the Financial Conduct Authority has issued a statement urging investors in the EEA Life Settlements Fund to make a complaint to the firm which sold the investments before time runs out.
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Barclays hit with 38m fine over client failings
The Financial Conduct Authority has fined Barclays Bank just under £38m for failing to protect clients custody assets worth £16.5bn.
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IMA demands clarity over guidance guarantee
The IMA has said the UKs Financial Conduct Authority (FCA) must clarify the difference between guidance and regulated advice if it is to set up a free guidance service for retirees.
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Guidance guarantee levy unfair on advisers
A proposed levy to pay for the UKs guidance guarantee would be unfair on advisers and consumers, according to IFA trade body APFA.
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ExSJP partner faces 300k fine and industry ban
An ex-partner at St. Jamess Place faces an industry ban and a £300,000 fine after his clients lost millions through investments into companies that he controlled.
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FCA fines and bans broker over dishonest UCIS
The Financial Conduct Authority has fined and banned an IFA for life after he was found to have sold unregulated funds to retail investors.