ExBlackRock MD faces industry ban over
A former BlackRock managing director who avoided £43,000 in ticket fares has been handed an industry ban by the Financial Conduct Authority (FCA).
FCA
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FCA says consumers failed by pension market
An FCA study has found that the annuity market is not working well for consumers who continue to miss out on a higher income by not shopping around.
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FCA deeply criticised in Davis
The FCA has been heavily criticised over its handling of plans to conduct a discovery exercise into exit charges on historic life and pensions policies which caused significant short term damage to a number of companys share prices.
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Decision against reckless Holborn IFA delayed
The date of a hearing which will make a final decision on the action taken against a financial adviser who “recklessly” sold high risk investment products to clients in the UK has been pushed back to next year.
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FCA to review fines policy after FX scandal
The FCA is to review how it fines unscrupulous firms having dished out £1.39bn in penalties since April.
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FCA to half adviser guidance guarantee levy
The Financial Conduct Authority (FCA) has proposed giving advisers a 50% reduction in the levy to fund the Government’s guidance guarantee service.
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3 5 million consumers now divorced from advice
Senior advisory figures in the UK have claimed that both the Financial Conduct Authority (FCA) and advisers should be held to account for divorcing many consumers from advice, following the implementation of the Retail Distribution Review (RDR).
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FCA review of in house funds reveals
An FCA review of the use of in-house investment products by wealth management and private banking firms, while largely positive, has revealed some weaknesses in client communication.
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RBS fined 56m over IT failures
Regulators in the UK have fined Royal Bank of Scotland £56m for IT failures which meant customers of three of the groups banks were unable to access banking services.
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FCA chairman calls for post-RDR
The chairman of the Financial Conduct Authority (FCA) has praised the Retail Distribution Review (RDR) but said the regulator must be open and transparent for the review to fully meet its objectives.
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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.
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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.