The Financial Conduct Authority (FCA) has ordered asset managers to pay investors £34m (€38m, $46.9m) in compensation after overcharging for “closet tracker” funds, in a move described as “hugely positive” for investors.
The Financial Conduct Authority (FCA) has declared discretionary fund management firm Beaufort Securities and its clearing arm, Beaufort Asset Clearing Services, insolvent.
FCA chief executive Andrew Bailey has rejected arguments Mifid II rules should be implemented whatever the cost to markets.
In a move that comes too late for scammed British Steel Pension Scheme (BSPS) members, the Financial Conduct Authority has announced a consultation on a public register of approved financial advisers and other industry professionals.
The next chair of the UK’s Financial Conduct Authority said he made an “error in judgement” when he used a tax avoidance film scheme promoted by Ingenious, a firm that has lost several court battles against HM Revenue & Customs.
The UK’s Pensions Ombudsman is currently investigating a group of more than 150 complaints and expects to receive more about transfer values linked to the beleaguered British Steel Pension Scheme (BSPS).
The EU recently proposed a single trade agreement with the United States, so there is no reason it cannot have one with the UK post-Brexit, according to the chief executive of the UK’s Financial Conduct Authority (FCA).
Franklin Templeton appoints a lead manager for emerging markets team, Axa IM launches a business development department and the Financial Conduct Authority appoints an executive director of international to oversee Brexit developments.
The ringleader of an investment scheme that conned vulnerable people into buying £1.4m ($1.9m, €1.6m) of worthless shares has been sentenced to three and a half years in jail.
Until very recently it had looked inevitable that the Financial Conduct Authority’s IFA register would fall by the wayside, despite support from advisers and industry to keep it. But recent political murmurs suggest it may live to fight another day.
The Financial Conduct Authority is “comfortable” allowing Priip manufacturers and advisers to provide “explanatory materials” where there are concerns that performance scenarios in mandatory key information documents (Kids) are too optimistic.
The chief executive of the Financial Conduct Authority has wholly rejected a report from the Work & Pensions Select Committee that said the UK watchdog of “sleepwalking into another mis-selling scandal”.
