All DB pension transfer firms face FCA grilling
The Financial Conduct Authority will collect data from every UK firm that advises on defined benefit (DB) pension transfers, as part of a probe into practices across the market.
FCA
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PEOPLE MOVES: The Fry Group, Carrick Wealth and Cadel Consulting
The Fry Group adds a veteran adviser in Singapore, Carrick Wealth appoints a high-flyer to its board and Bob Pain launches his own consultancy firm.
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PEOPLE MOVES: FCA, SJP, Penningtons Manches and others
The lawyer, who advised the UK government during the financial crisis, looks set to lead the Financial Conduct Authority, St James’ Place new chief executive started settling in at the adviser and private client lawyers Penningtons Manches appoints a trio to its offices.
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Trio jailed for misleading investors in £1.4m scam
Three people have been jailed for their role in an investment scheme which misled vulnerable older people into buying £1.4m of worthless shares.
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FCA hints passporting will continue after Brexit
In a move that clashes with comments made by the European Union’s chief Brexit negotiator, the Financial Conduct Authority has reassured firms that current passporting arrangements between the UK and EU will continue after the UK exits the EU.
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Landmark FCA market abuse fine hits £70,000
An Aim-listed investment company has been fined by the Financial Conduct Authority for failing to disclose inside information, the first such ruling since market abuse regulations came into force in 2016.
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Fraudster given 400 extra days in prison
A UK conman who cold called and pressurised investors has been given additional jail time for failing to pay back ill-gotten gains.
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FCA slammed for failings linked to passporting Cyprus adviser
The Financial Conduct Authority has promised to clarify the limitations of consumer protection where a firm is in another jurisdiction after the Complaints Commissioner criticised its handling of an EU-passported financial adviser from Cyprus and recommended it apologise to the investors at the heart of the complaint.
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UK financial services bans at post-crisis low
Just 18 people were handed prohibition orders from the Financial Conduct Authority in the year to 30 September 2017, down from its peak of 72 in 2010.
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Advice to take on new meaning in January
The UK regulator is to introduce a new definition of advice on 3 January 2018 in a move to bring it in line with the Mifid II definition.
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Insurance broker Bluefin fined £4m
The Financial Conduct Authority has fined Bluefin Insurance Services for failing to inform customers about its independence in a way that was clear, fair and not misleading while it was owned by Axa UK.
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Man arrested amid police and FCA probe into wealth firm
A boutique UK home counties wealth manager has become the focus of a joint investigation by the City of London Police and Financial Conduct Authority (FCA).