A decision by Friends Life to charge a client a £1,700 exit fee for transferring a planned pension has been upheld by the UK’s Pensions Ombudsman Service (POS), despite being wrongly advised by her IFA.
Investors in the ill-fated EEA Life Settlements Fund have received a “dismal” strike price offer for their shares in so-called ‘death bonds’, according to campaign group EEA Investor’s Group (EEIG).
Amundi announces a high-profile global advisory board, while Pictet names ex-Goldman Sachs director Dominique Joories to head its Singaporean banking unit. Axa reveals Jean-Laurent Granier, the chief executive of the group’s Mediterranean and Latam divisions, will step down next month while prominent figures from the UK’s insurance industry join trade body ABI.
Former Investment Association chief Daniel Godfrey has been hired by the Financial Conduct Authority on a consultancy basis, a spokesperson said.
The UK’s Financial Conduct Authority looks set to cap exit charges for existing contract-based personal pensions, including workplace personal pensions, at 1% of the value of a member’s pot.
The Financial Conduct Authority (FCA) has warned that Britons over-55 are being targeted by scammers, with nearly a half investing in unregulated products such as wine, diamonds and land, without getting professional advice.
The Financial Conduct Authority (FCA) has banned and publicly censured the former compliance officer of disgraced investment firm Keydata.
A British financial adviser has been fined £36,285 (€46,048, $52,086) and banned for two years for insider dealing by the UK’s Financial Conduct Authority (FCA).
A group of British politicians has warned that the pension freedoms, which came into effect in April last year, are a “potential trigger for future mass mis-selling”.
UK financial advisers charge between 1% and 4.5% of investible assets for their initial financial planning advice to clients with up to £50,000 ($73,000, €64,000), a survey by the Financial Conduct Authority has found.
More than 200,000 offshore firms will have details of their links to the Panama Papers scandal made available when The International Consortium of Investigative Journalists (ICIJ) launches a searchable database next month.
The UK’s Financial Conduct Authority (FCA) has asked a further 44 financial services firms to disclose their involvement in the tax-evasive practices uncovered by the Panama Papers leak.
