FCA stops pension transfers from 16 advice firms
Sixteen UK firms agreed to stop any activities related to pension transfers in the 12 months to January 2017, the Financial Conduct Authority has revealed.
FCA
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FCA fines ex-investment banker over Whatsapp boasts
A former investment banker has been fined more than £37,000 ($45,965, €42,610) by the FCA after he admitted trying to impress friends by revealing confidential client details in Whatsapp chats.
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More firms in the FCA firing line after Holborn sanctions
Several more firms are at risk of being sanctioned by the Financial Conduct Authority (FCA) as the regulator steps up action against international IFA firms specialising in overseas pension transfers, says Tim Searle, chairman of Dubai-based advisory firm Globaleye.
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Holborn Assets ordered to immediately cease pension transfers
The UK Financial Conduct Authority has ordered Holborn Assets Ltd to immediately cease all pension transfer business, particularly that introduced by overseas advisers.
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Asset management sector review dwarfs RDR, says Nucleus CEO
The UK Financial Conduct Authority’s report into the asset management sector is “way bigger” than the retail distribution review (RDR), with fund managers expected to “bear the sharp end of the pressure on fees”, says David Ferguson, chief executive of wrap platform Nucleus.
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DeVere’s Nigel Green to review Qrops unit in group restructure
DeVere Group chief executive Nigel Green has launched a strategic review of the company’s business which will factor in the surprise Spring Budget announcement of a 25% overseas pension transfer charge on Qrops plans in some markets and particular circumstances.
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FCA sharpens scrutiny on pension transfer complaints
The Financial Conduct Authority has set out a plan to give better redress to those clients who were given unsuitable advice to transfer out of a defined benefit (DB) pension scheme.
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UK compensation scheme offers lifeline to Arch Cru investors
Investors in the ill-fated CF Arch Cru Funds have been offered the opportunity to have their claims reviewed and settled now by the Financial Services Compensation Scheme (FSCS), after it was revealed that the funds will not be wound up until December 2018 at the earliest.
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How to avoid being scammed
The Financial Conduct Authority (FCA) has revealed the tactics used by investment fraudsters to deceive the over 55s, as it urges the demographic to check investment opportunities are genuine before parting with their money.
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Why all int’l advisers must pay attention to the UK regulator
The trouble with retirement planning is that there are many different rules and regulations as successive governments add their stamps to the way we save for and use our pension pots.
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Drawdown beats annuities but pension cash is king
More than half of UK pension pots accessed for the first time were withdrawn entirely as cash lump sums in Q3 2016. Drawdown proved twice as popular as annuities but a fall in the number of people seeking advice before making pension decisions has some in the industry concerned.
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One in 10 calls to the FCA about scams
More than one in 10 consumers contacting the Financial Conduct Authority (FCA) do so to report a financial scam and to find out what they can do about it, the UK regulator revealed Thursday.