The UK’s Financial Conduct Authority has issued a warning notice to an unnamed individual for poor advice given to more than 700 members of defined benefit (DB) schemes that left them at “serious risk of unsuitable outcomes”.
DeVere UK has stopped providing advice on overseas pensions transfers, a spokesperson has confirmed to International Adviser.
The Financial Conduct Authority (FCA), the UK’s financial services regulator, is currently investigating overseas pension transfers as part of a move to tackle widespread investment fraud, according to Paul Davies, director of advisory firm bdhSterling.
The former head of the UK’s Financial Conduct Authority (FCA), Tracey McDermott is to join Standard Chartered in the latest high-profile hire for the bank.
The UK’s Financial Conduct Authority (FCA) has warned financial advisers, DFMs and pension scheme operators that scammers are becoming increasingly sophisticated in developing products to defeat due diligence efforts.
The Financial Conduct Authority (FCA) has issued a stark warning to firms advising on domestic and international pension transfers after reports that some clients are being scammed or their funds transferred into unsuitable investments.
The more than 97% decrease in fines levied by the UK regulator against financial institutions does not signal a return to light touch regulation, says Mark Steward, director of enforcement and market oversight at the Financial Conduct Authority (FCA).
Bank House Investment Management, the personal wealth division of the UK-based Bank House group, has been barred from carrying out business such as advising on investments after an investigation by the regulator into its pension transfer business.
UK adviser directories Unbiased and VouchedFor have urged the Financial Conduct Authority (FCA) to publicise whether an adviser is independent or restricted.
Prices on funds are predicted to fall during 2017, in the wake of the UK Financial Conduct Authority’s (FCA) investigation into quasi-active portfolios, says Danny Knight, director of multi-asset at Old Mutual International.
Robo-advice firms “do not have a clue” how to communicate well with clients according to research published on Friday calling for the Financial Conduct Authority (FCA) to enforce vigorous rules in the industry.
The UK regulator has proposed changing the financial compensation scheme to make riskier, so-called ‘polluter’ firms pay higher levies.
