UK IFA firm fails
With the FSCS receiving claims in regard to the British Steel Pension Scheme
FCA
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Retail investment advice revenues increase by 3%
As firms pay £166m in professional indemnity premiums
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FCA halts plans for simplified advice following ‘limited’ industry support
As regulator pushes on with review into advice/guidance boundary
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FCA wins civil case against care home investment scheme
Victims invested around £57m
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Advisers expect a drop in profitability due to Consumer Duty
Outsourcing ‘elements of the value chain can ease the heavy lifting’
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Duo jailed for six years over £500,000 cryptocurrency scam
As the FCA secures confiscation order against convicted investment adviser
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7.4 million Brits unable to contact financial services providers
As only 36% of UK adults believe most firms are honest and transparent in the way they treat them
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UK financial watchdog cancels regulatory permissions of digital bank
After the FCA found the firm ‘appeared to have provided investment products or services’ without authorisation to do so
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32% of IFAs expect client fees to increase with Consumer Duty
As one-in-seven still feel unclear about advising clients on good customer outcomes
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Two UK IFA firms fail
With the FSCS receiving claims related to pension advice transfers for both
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Five potential impacts of Consumer Duty
NextWealth predicts what will happen after the FCA’s regulation is implemented
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Man charged with fraud over £1.3m unauthorised investment scheme
He will appear at Southwark Crown Court on 15 August 2023 for a plea and trial preparation hearing