Regulation

        FCA apologises for public warning error

        Professional Adviser | 22 Dec 2014 | 11:20

        The Financial Conduct Authority (FCA) has issued a public apology for omitting details in a warning notice, which could have alerted consumers to the wrong firm.

        fca
        Big Ben photo by UK Parliament

        Govt demands transparency around FCA enforcement action

        The government has asked the Financial Conduct Authority (FCA) to be more transparent in its supervision and enforcement actions, in a review released yesterday.

        Professional Adviser | 19 Dec 2014 | 07:36
        fca-logo

        The FCA's guide to good and bad practice in ongoing advice

        The Financial Conduct Authority (FCA) has outlined a number of good and bad practice scenarios around the design and delivery of ongoing advice.

        Professional Adviser | 17 Dec 2014 | 07:18

    Other Regulation articles

      Large gold pound sign

      Advisers charging more post-RDR despite lower product prices

      Advisers are charging clients more post-Retail Distribution Review (RDR), despite falling product prices, a consultancy hired by the Financial Conduct Authority (FCA) has found.

      Professional Adviser | 16 Dec 2014 | 11:14
      A hand extended holding a bag of pounds - illustration

      FCA concedes RDR has led clients to question value of advice

      The banning of commission on retail investments and the subsequent revelation of the "true cost" of advice has led some clients to consider the value of what their adviser offers, the Financial Conduct Authority (FCA) has conceded.

      Professional Adviser | 16 Dec 2014 | 11:05
      advice2

      Clients ‘unaware and unclear’ about ongoing services charges

      About two out of three financial advice clients receive ongoing services but only half understand what they are actually paying for, research from NMG has found.

      Professional Adviser | 16 Dec 2014 | 10:37
      fca

      FCA refers one firm to enforcement over RDR changes

      The Financial Conduct Authority (FCA) has found increased professionalism in the advice sector and better disclosure of services and charges, but one firm has been referred to enforcement for "insufficiently engaging" with the Retail Distribution Review (RDR).

      Professional Adviser | 16 Dec 2014 | 10:03
      fca

      RDR is working, FCA declares

      The Financial Conduct Authority (FCA) has declared the Retail Distribution Review (RDR), its "once in a generation" project to revamp the retail investment advice market, is working, though some concerns remain on the costs and labels of advisers' services.

      Professional Adviser | 16 Dec 2014 | 10:00
      barrett-karen

      Advice needs to be ‘commoditised’ to attract consumers - Unbiased

      Financial advice should be grouped by type of service and given price tags to break down the barriers consumers often face when shopping for it, Unbiased chief executive Karen Barrett has suggested.

      Professional Adviser | 16 Dec 2014 | 07:59
      cost-of-business

      IFA: Less than 10% of people need advice

      Less than a tenth of the population has complex enough needs to warrant the fees they would pay for advice, and would be better served by guidance, an IFA has said.

      Professional Adviser | 15 Dec 2014 | 12:32
      Accepted stamp

      MAS adviser directory rules revealed

      The Money Advice Service (MAS) has published details of the criteria advisers will need to meet before they can be listed on the website's directory.

      Professional Adviser | 15 Dec 2014 | 12:25
      stephen-harper-dsc-6653

      Small firms ‘hanging on' to trail income, says consolidator

      Small firm consolidation in the financial advice market has yet to materialise as predicted because many owners are "hanging on" to the trail commission they earn on pre-Retail Distribution Review (RDR) business, according to one acquirer.

      Professional Adviser | 15 Dec 2014 | 11:06
      files

      Wealth managers rail against ‘crippling’ suitability requirements

      Wealth management firms say they are being “crippled” by suitability requirements as the Financial Conduct Authority (FCA) increases its scrutiny of the sector.

      Professional Adviser | 15 Dec 2014 | 09:34
      Money Advice Service

      MAS: Farnish report recommends staff and budget cuts

      An independent review of the Money Advice Service (MAS) will recommend it cuts more than half its staff and reduce its budget by as much as 38%, according to a report.

      Professional Adviser | 15 Dec 2014 | 07:50
      taxman12

      HMRC pockets £32m from tax avoidance scheme users

      HM Revenue and Customs (HMRC) has secured almost all of the disputed tax due from the first group of tax avoidance scheme users to receive Accelerated Payment notices.

      Professional Adviser | 14 Dec 2014 | 20:55
      fca

      FCA tweaks existing complaints time limit rules as long-stop project resumes

      The Financial Conduct Authority (FCA) has said a project considering the re-introduction of a 'long-stop' on advice complaints being referred to the ombudsman will continue despite initial concerns it could be incompatible with European legislation.

      Professional Adviser | 12 Dec 2014 | 12:56
      stephen-lowe

      Just Retirement calls for decumulation ‘clean break’ to ensure annuity competition

      Pension providers should ensure all retirees use the open market to buy an annuity at the point of decumulation to ensure they get the most out of their savings, Just Retirement has said.

      Professional Adviser | 12 Dec 2014 | 11:21
      fca

      Eight changes the FCA has made in response to the Davis report

      The Financial Conduct Authority (FCA) said it has overhauled its systems and processes after it was found to have been "seriously inadequate" in its response to a media blunder earlier this year.

      Professional Adviser | 10 Dec 2014 | 13:10
      nickpoyntz-wright

      Cost of report into FCA media error approaches £4m

      The total costs of an independent report into the Financial Conduct Authority's strategy to brief a national newspaper on one of its high-profile regulatory projects are approaching £4m.

      Professional Adviser | 10 Dec 2014 | 12:34
      fca

      FCA apologises for 'seriously inadequate' behaviour found in Davis review

      The Financial Conduct Authority (FCA) has apologised for the shortcomings in its handling of a media briefing ahead of the publication of its latest business plan, saying it accepted the criticisms and would implement changes to "sharpen its focus".

      Professional Adviser | 10 Dec 2014 | 12:27

Sponsored video

Poll

    Are annuity death tax changes a 'job half done'?