‘Significant shortfalls’ for investors of failed mini-bond firm
Company only had £906 in its bank account when it entered administration
FCA
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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’
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Credit card fraudster financial adviser banned
He is currently serving a three-and-a-half-year jail term
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FCA survey on advice firm financial resilience welcomed
As the UK watchdog looks to assess the impact of covid-19
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UK regulator accused of lacking bite
As it fails to hold anyone to account a year after the Woodford scandal
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Investigation delayed into FCA handling of mini-bond scandal
Campaign group accuses watchdog of using ‘dirty tricks’
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UK investors lose more than £100,000 to Cypriot schemes
It is the first time the FCA has used its power to remove passporting rights from a firm