Maximum ombudsman compensation limit to rise to £415,000
Changes to start on 1 April
FCA
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IFA company hit with regulatory restrictions
Watchdog said it failed to ‘engage with the FCA in an open and cooperative way’
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DB pension transfers excluded from advice-guidance review
But FCA says that accumulation and decumulation products will be part of the analysis
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Woodbrook Group-linked Sipp operator goes bust
It was placed into voluntary liquidation in August 2021
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UK pension advice company fails
After the firm entered compulsory liquidation in January 2023
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73% of advisers not ready for Consumer Duty implementation
As 8% say they haven’t started working on the regulation
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Two British Steel advice firms under investigation
Companies are both in liquidation according to the FCA
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UK investment advice firm fails
Lifeboat scheme has received 23 claims against the company – mainly related to Sipps
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Former PFS CEO sets up financial services professional body
Keith Richards has joined forces with a number of industry veterans to help advice firms implement the Consumer Duty
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Pimfa calls on FCA to simplify post-Priips disclosure rules
Quantity of mandatory information is a barrier to retail investors, the association has warned
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Advice network handed pension transfer ban
Regulator also says it must not take on any new appointed representatives
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What challenges do advice firms face with Consumer Duty?
Regulator is expecting companies to put their customers’ needs first – and be able to prove it