Is the FCA too late to act on phoenixing?
Calls for more scrutiny of advisers setting up firms when they have existing licences
FCA
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UK regulator probes 125 advisory firms on suitability
Focusing on clients receiving advice on income in retirement
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Technology is not a one-and-done solution for advisers
And spending millions on due diligence in terms of time and resources is ‘frankly ridiculous’
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Around 370 firms exited DB pension space in last two years
FCA chief says that large investigation may have found mis-selling in the market
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UK regulator shines positive light on life insurance outsourcing
But some firms with potential non-compliance have been asked to ‘take action’
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Mini-bond victim caught in UK regulator data breach
Their personal details were publicly accessible despite not being relevant to the FOI request
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Advisers pester fund groups to cut fees
Despite only 9% having cut their own costs in recent years
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FCA admits wrongful publication of data
In response to a freedom of information request
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UK regulator slammed over failure to protect consumers
Gina Miller says FCA boss’ tenure a ‘toxic cocktail of negligence, incompetence and indifference’
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Fix retirement advice sector, industry and government told
Some 40% of flexible income withdrawals were at an ‘unsustainable annual rate of 8% and over’
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UK financial adviser banned for life
After he was convicted of stealing £2.1m in client funds
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Mini-bond victims take legal action against lifeboat scheme
But FSCS denies wrongdoing, stating it has sought legal advice on the ‘complex and sensitive case’