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
FCA
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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
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FCA stops Montfort Intl from carrying out new pension business
Including where applications have not yet been submitted to product providers
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Financial advisers can defer CPD to next year
While BMO Global Asset Management rolls out CPD tracking tool