Equity release advice ‘too transactional’, says Sandringham CEO
As UK regulator finds firms don’t always have evidence offering is ‘suitable’ for clients
FCA
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Temporary mini-bond marketing ban to be made permanent
FCA demanded firms stop advertising to retail clients following growing concerns and failures
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German bank fined £37.8m for anti-money laundering failings
UK watchdog said it did not conduct ‘timely periodic due diligence’ on clients of its London branch
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FSCS levy costs ‘unacceptable’ but bound to rise
As FCA chairman takes aim at internet giants for ‘absurd’ practices that are driving costs up
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What questions should advisers ask their network?
Impact of recent regulations and Brexit are going to change the rules of the game
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‘Significant shortfalls’ for investors of failed mini-bond firm
Company only had £906 in its bank account when it entered administration
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Six-in-10 advisers to cut DB transfer work after fee changes
Some 62% believe that the market will not be profitable going forward
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7 advice firms hit with FCA skilled-person reviews since 2017
They had to collectively fork out over £300,000 to pay for the investigations
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FCA investigating Quilter subsidiary over DB pension transfers
UK regulator also orders firm to appoint skilled person to conduct review
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Collapsed wealth firm sells client book
After entering administration in August 2019
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Former SJP adviser causes clients to lose £1.35m
But wealth management firm denies responsibility and refuses to pay compensation
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FCA bans contingent charging for DB pension transfers
Need to ‘improve professionalism’ of transfer specialists and their ‘knowledge in choosing assumptions’