Unregulated collective investment schemes are increasingly being sold to retail investors in some expat markets since the FCA banned their sale in the UK last year, an advice firm has warned.
The Financial Conduct Authority’s proposal to introduce a long-stop for claims against financial advice has been met with optimism by advisers.
The Treasury and the Financial Conduct Authority (FCA) have jointly initiated a consultation to “radically improve” the access and affordability of financial advice in the UK, the first step in a major review of the industry.
Life assurance firm Prudential is the most complained about company in the life and pensions sector, according to the latest data from the Financial Conduct Authority.
Former Keydata Investment Services finance director Craig McNeil has been fined £350,000 and banned from performing any role of “significant influence” relating to life settlement bond sales that took place six years ago.
The Upper Tribunal has rejected an FCA ban of a Catalyst director relating to the promotion of unlicensed Luxembourg-issued ‘death bonds’.
Financial advisers could be faced with large costs if they fail to adopt a holistic system for handling complaints before next year’s reform, industry players have warned.
The number of pension transfers being rejected by providers is increasing as financial advisers are unaware of the permissions they need to authorise transactions, according to a retirement planning specialist.
The Financial Conduct Authority is investigating unusual increases in share price prior to Aviva’s merger with Friends Life, according to reports.
The FCA has published rules on how it will apply its accountability regime – aimed at improving professional banking standards – to overseas banks and Solvency II firms operating in the UK.
Investors into troubled overseas property company Harlequin have been asked to come forward and give evidence to assist the Serious Fraud Office in the final stages of its criminal investigation.
Advisers will not be required to tape face-to-face meetings with clients when the Markets in Financial Directive II (MiFID II) is introduced in January 2017, the Financial Conduct Authority has confirmed.
