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
FCA
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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
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How the sustainability disclosure requirements will impact DFMs
Concerns of vast swathes of assets chasing labelled funds and a threshold MPS will never meet
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FCA urged to review treatment of clients with mental health problems
As charity finds they are charged 27 times more for insurance products
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IFA firm accused of misappropriating client funds
Around £1.5m was reportedly transferred to the personal accounts of the company’s sole director
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FCA expects firms to make ‘fundamental changes’ for Consumer Duty
But it wants to work together with industry to ‘rebuild trust and confidence’
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Unauthorised investment firm and director sued
FCA wants to recover £2.8m that was taken ‘unlawfully’ from retail investors
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FCA tells crypto firms to comply with financial promotions regime
But regulator is struggling to tackle unauthorised businesses targeting Brits
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8,600 ads blocked in FCA crackdown on financial promotions
14 times more than in 2021
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IFA firm and investment manager hit with regulatory restrictions
Director may have taken more than £2m from clients
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FCA fines nearly triple in a year
While US regulator raked in record $6.4bn in penalties