UK MPs query regulator over £74m financial adviser levy
The chairman of the UK’s Treasury select committee, Andrew Tyrie, has asked the Financial Conduct Authority (FCA) to explain how it will ensure levy payers are getting value for money.
FCA
-
-
FCA issues 7 scam alerts on unregulated firms in a week
The UK’s Financial Conduct Authority (FCA) has blacklisted a number of firms it believes are providing financial services without authorisation.
-
Bogus UK land bank ordered to pay £21m after losing appeal
A British land bank scam which sold investors small plots of land at hugely inflated prices has been ordered to pay its victims £21m ($30.1m, €26.5m) after losing a Supreme Court appeal which challenged an earlier ruling, the Financial Conduct Authority (FCA) has revealed.
-
FCA warns advisers against provider-paid for rugby matches
The Financial Conduct Authority (FCA) has warned financial advisers in the UK to stop attending hospitality events such as rugby matches, often put on by investment firms looking to sell them products, as it may create conflicts of interest.
-
Fund fees fall by a fifth after RDR
Investors are now paying over a fifth less in annual fund fees as a result of the introduction of the Retail Distribution Review (RDR), according to analysis by online investment platform rplan
-
Bespoke Sipp providers may ‘flounder’ in FCA cap ad changes
A number of British firms offering bespoke self-invested personal pensions (Sipps) could go out of business when the Financial Conduct Authority’s (FCA) new capital adequacy requirements come into force in September, according to James Hay, one of the UK’s largest Sipps providers.
-
McDermott announces FCA departure
Tracey McDermott, acting chief executive of the UK’s Financial Conduct Authority (FCA), is to leave the organisation on 1 July 2016.
-
FCA to check consumer understanding of financial products
The UK’s Financial Conduct Authority has decided to check whether banks and building societies are making sure that customers understand the financial products they are buying.
-
UK millennials more likely to embrace robo-advice, says Legg Mason
UK millennials are more open to receiving financial advice from automated services, so-called robo-advice, than their counterparts around the world, a survey by global asset manager Legg Mason has revealed.
-
Asset managers should practice what they preach, says FCA
The Financial Conduct Authority has gently warned asset managers that they need to be clear in product descriptions and manage funds in line with stated strategies, following a review.
-
FCA gives banks one week to reveal any ‘Panama Papers’ link
The Financial Conduct Authority (FCA) has given banks and financial institutions until next week to declare any links to Mossack Fonseca, the law firm at the centre of the ‘Panama Papers’ controversy.
-
FCA to launch ‘regulatory sandbox’ and robo-advice unit
The Financial Conduct Authority (FCA) is to launch its ‘regulatory sandbox’ later this spring, calling on the financial services industry to set up a not-for-profit company to carry out the function.