Two UK IFA firms fail
With the FSCS receiving claims related to pension advice transfers for both
FCA
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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
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UK-based adviser loses regulatory permissions
After he failed to file returns to the FCA
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FCA tightens online financial promotions guidance
Increasing scrutiny of financial influencers on social media
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FCA writes to platforms over interest on cash balances paid to clients
UK watchdog wants to understand how firms have considered their approach to this in line with the Consumer Duty
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Two UK financial advice firms fail
After both companies were investigated by the FSCS earlier this year
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FCA enforcement activity drops in last financial year
Cases opened against firms and individuals fell by 67% and 33%, respectively
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Sipp sales reach highest level in five years
‘Savers are becoming increasingly confident in managing their own finances’
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FCA: ‘Gaps observed in liquidity management’ could lead to ‘risk of investor harm’
Regulator warned that asset managers lack arrangements to combat market-wide redemptions
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IFA banned over ‘unsuitable’ DB pension transfer advice
He has been told to pay £850,000 to the FSCS to compensate customers
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What do retail investors need to know about illiquid assets?
Risk appetite, knowledge, experience and amount of wealth all important things to consider