Woodbrook Group-linked Sipp operator goes bust
It was placed into voluntary liquidation in August 2021
FCA
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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
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UK advisers to shun simplified ‘core advice’ model
‘Targeting more wealthy clients’ and ‘fees will be too low’ are main arguments against the FCA’s plans
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IFA firms forced to withdraw ‘misleading’ offers to ex-BSPS members
FCA says it ‘will not tolerate this behaviour’ and ‘will take further action’
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‘Detective’ investors blocked £2m of scams in 2022
39% claim that their investigative and research skills are helping them spot signs of fraud