OMW hits pause on pension transfer service
Old Mutual Wealth is the second provider in a 24 hour period to suspend its transfer value analysis service (Tvas), following the Financial Conduct Authorities (FCA) new rules on pension transfers.
FCA
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Passporting vital for small advice firms post-Brexit
News that passporting will continue during the Brexit transition period has been welcomed by the founder of a Belgium-based advice firm who has also backed the FCA chief’s calls for the agreement to continue after the UK leaves the EU.
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Experts react to DB pension transfer ruling
Pension experts have welcomed the clarity the Financial Conduct Authority (FCA) has established for defined benefit (DB) pension transfers through its updated rules. But they warn further, lengthy, consultation may not be the best way to address issues of poor practice that have come to prominence in recent months.
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FCA keeps ‘unsuitable’ DB transfer assumption
The Financial Conduct Authority (FCA) has backtracked on a proposal to change its position that an adviser should assume that a Defined Benefit (DB) pension transfer is “unsuitable” for a client.
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Ticking time bomb for advisers outsourcing investment
Markets are creating a ticking time bomb for advisers outsourcing investment business to discretionary investment managers under the agent as client model with a downturn likely to highlight shortcomings that have previously been ignored.
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UK and Aussie regulators ink enhanced fintech agreement
The Financial Conduct Authority and the Australian Securities and Investments Commission have signed an enhanced fintech cooperation agreement.
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Three insights into unsettling pension freedoms data
The Financial Conduct Authority has released figures on pension freedoms that product providers have described as “concerning” and “do not make for comfortable reading”. International Adviser spoke to industry experts to get their thoughts on the data.
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Outgoing FCA chair warns on cryptocurrency and Brexit
John Griffiths-Jones used his last speech as chairman of the Financial Conduct Authority to warn over the dangers of cryptocurrencies, outline the regulator’s role in Brexit and criticise the financial legal system.
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FCA: Regulations ‘only go so far’ in changing culture
Regulation is only “one piece of the puzzle” in addressing financial services culture, according to the UK Financial Conduct Authority (FCA), which has released a paper it hopes will create debate and promote a positive change in the industry.
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FBI operation delayed shutdown of defunct British DFM
Insolvent discretionary fund manager Beaufort Securities was given a stay of execution by the UK regulator to allow the Federal Bureau of Investigation to finish its undercover operation, it has been revealed.
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Disgraced adviser admits perverting course of justice
A financial adviser who funded a lavish lifestyle from investments in an unauthorised collective investment scheme has admitted perverting the course of justice.
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FCA leaves pension providers in the dark on climate risk
Pension providers have called on the Financial Conduct Authority (FCA) to provide clarity about their obligations in managing climate risk in contract-based pensions and for the regulator to better align itself with The Pensions Regulator, which oversees trust-based pensions.