WH Ireland expects “substantial fine” from FCA
UK wealth manager WH Ireland said it is likely to face “a substantial fine imposed by the FCA,” following a Financial Conduct Authority review.
FCA
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Threadneedle fined £6m over Gersamia fraud case
Threadneedle Asset Management has been fined more than £6m by the FCA following an attempted fraudulent trade involving a former emerging market debt fund manager Vladimir Gersamia.
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FCA assessing barriers to social investment
The UK’s Financial Conduct Authority (FCA) has launched a public consultation on how well the social investment market regulation is functioning.
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One in three wealth managers not up to scratch on suitability – FCA
One third of UK wealth managers’ suitability reports currently fall short of the Financial Conduct Authority’s expected standards, the regulatory body said on Wednesday.
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FCA unveils new capital rules for financial advisers
The UK Financial Conduct Authority (FCA) has unveiled a sharp rise in the minimum capital requirements for investment advisers, which will come into force on 30 June 2016.
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French structured products specialist launches in the UK
Hilbert Investment Solutions, a specialist structured products firm, has gained approval from the Financial Conduct Authority (FCA) to operate in the UK.
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Financial firms outsource advice to unregulated third parties
Some UK financial adviser firms are delegating the entire regulated activity of providing advice to unregulated third parties, according to the Financial Conduct Authority (FCA).
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Tilney planning range of smart beta, multi-asset funds
Tilney Bestinvest plans to launch a range of smart beta, multi-asset funds in 2016.
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Barclays fined record £72m for failing to ‘minimise crime’
The Financial Conduct Authority (FCA) has fined Barclays Bank a record amount for failing to minimise the risk that it may be used to facilitate financial crime.
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Ex-IFA’s landmark jail term for ‘giant Ponzi scheme’ upheld
The UK Court of Appeal has upheld a landmark sentence of 10 years’ imprisonment imposed on former independent financial adviser Phillip Boakes following his conviction on charges brought by the Financial Conduct Authority (FCA).
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Vanguard finds advisers split on robo-advice
Two-fifths of UK wealth managers believe robo-advice offers the potential for greater efficiency and to attract new clients in the next five years, according to a survey from Vanguard.
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UK financial adviser numbers rise but still woefully short
The number of independent and restricted financial advisers in the UK rose by 5% to 22,557 in November 2015, up from 21,496 in October 2014.