Advice trade body calls for FCA fines to contribute to FSCS
Watchdog can ‘make better use’ of powers ‘to prosecute firms for criminal offences than it currently does’
FCA
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International Sipps latest FCA crackdown target
Regulator sent letter to firms asking for detailed information – especially about offshore bonds
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FCA fines IFA firm over ‘unsuitable’ pension transfer advice
It has paid redress of around £2.7m to 41 customers impacted by the switch to Sipps
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Unregulated financial adviser with six aliases banned
She was already convicted and disqualified in 2009
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FCA makes mass-marketing ban for mini-bonds permanent
UK financial watchdog introduced a temporary measure at the beginning of 2020
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Just 8% of Brits received financial advice
But number of advisers slowly increasing
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FCA warns expats about switching UK pensions into int’l Sipps
As it received queries relating to ‘charges being paid’ in these transfers
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Advice trade body calls for reform of UK lifeboat scheme
Phoenixing is allowing ‘firms that simply should not be in business’ to transfer compensation burden
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MPs launch inquiry into future of UK financial regulation
FCA ‘needs independent oversight’ to make it ‘answerable for its actions’
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FCA sends advisers second DB transfer survey in five months
Speculation UK watchdog is looking to remove permissions from firms not active in the market
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Brits reluctance to pay for advice sparks ‘critical challenge’
Just 12% are in favour of ongoing fees with most opting for a one-off structure
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Just 11 FCA investigations into DB transfer misconduct in 2020
Despite a 26% increase in consumer complaints against firms