Scam warning over regulated advisers in pension lib schemes
Pension liberation scams are increasingly being endorsed by FCA-regulated financial advisers, advocacy group Pension Life has warned.
FCA
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FCA to investigate absolute return funds
The Financial Conduct Authority (FCA) plans to investigate absolute return funds as part of its review into the asset management market, amid poor performance despite the flood of money being pumped into the strategy.
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Prudential commissions due diligence guides for advisers
The belief that due diligence on investment products shouldn’t rest solely with advisers has seen Prudential commission two independent research companies to produce four guides to support financial advisers in meeting their research requirements.
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UK pension transfers back under the microscope
The UK regulator is planning to take a fresh look at how it calculates levels of redress when unsuitable advice is given on the transfer of defined benefit (DB) pension schemes. While advisers claim it’s not just DB schemes that are facing issues, with some defined contribution (DC) pension transfers also proving problematic.
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UK advisers warned of ‘inappropriate influence’ of introducers
The Financial Conduct Authority (FCA) has voiced concerns about the “inappropriate influence” that unauthorised introducers have on investment choices made by UK advisers, revealing that it has seen a growing number of cases where client pensions are being transferred into unregulated high risk products.
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UK’s FCA steps up crime reporting requirements for advisers
The Financial Conduct Authority (FCA) is expanding its remit over financial crime by requiring large firms to file yearly reports into the matter.
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Connaught scandal liquidators secure £18.5m payout from Capita
UK outsourcing firm Capita has paid £18.5m (€22.07m, $24.2m) to settle a claim brought against it by the liquidator of the Connaught property fund fraud in which investors lost up to £100m.
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Committee recommends FCA split to set up enforcement body
The Treasury Committee is recommending that part of the UK’s Financial Conduct Authority (FCA) be spun out to form a new financial regulation enforcement body.
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FCA raps insurers and brokers for poor controls over reps
The UK Financial Conduct Authority says it has identified “serious and widespread” issues with how general insurance companies and brokers manage their networks of authorised representatives.
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New FCA chief unconvinced FAMR recommendations will work
UK Financial Conduct Authority chief executive Andrew Bailey has admitted to the government’s Treasury Select Committee that proposals made by the Financial Advice Market Review may not solve the advice gap, which was in part created by the Retail Distribution Review.
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More than a half of UK savers cashing in pensions, says FCA
Over half of UK savers are cashing in their savings following the introduction of pension freedoms last year, research from the UK’s Financial Conduct Authority (FCA) suggests.
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FSCS payments reach record high over risky Sipps investments
Payouts to UK consumers, aggrieved by poor life and pensions advice, have more than doubled due to an increase in high risk Sipp investment claims, new figures from the Financial Services Compensation Scheme (FSCS) show.