SIPP transfer failings: What went wrong at 'deficient' 1 Stop Financial Services

Professional Adviser | 17 Apr 2014 | 12:44

Two advisers have today been banned from financial services for significant failings relating to about 2,000 pension transfers, which led to more than £50m being transferred to overseas property developments operated by Harlequin.

stamp-fail
fca

FCA bans advisers for pushing 2,000 clients into ‘unsuitable SIPPs’

The Financial Conduct Authority (FCA) has banned two men from working in the industry for orchestrating unsuitable self-invested personal pension (SIPP) switches.

Professional Adviser | 17 Apr 2014 | 10:24
missing-pieces

Missing pieces: How advisers can help deliver Osborne’s retirement ‘guidance guarantee’

Retirement guidance-for-all could be one of George Osborne’s key legacies as Chancellor. As yet, it remains unclear who will ‘guide’ the masses but regulated advisers can and will benefit from the policy, writes Jenna Towler...

Professional Adviser | 16 Apr 2014 | 10:28

Other Regulation articles

fees

Adviser masterclass: How to explain fees to clients

Rebecca Jones investigates how advisers can satisfy the regulator while keeping things as simple as possible when explaining fees and charges to clients...

Professional Adviser | 14 Apr 2014 | 15:24
advice2

Trustees: We already do better than Osborne’s ‘guidance guarantee’

Many trust-based DC pension schemes already offer more than the ‘guidance guarantee' to their members and are worried about being forced to ‘dumb down' standards, according to the National Association of Pension Funds (NAPF).

Professional Adviser | 14 Apr 2014 | 10:39
keith-richards-tenet

Advisers to play key role in PFS plans for Budget ‘guidance guarantee'

Financial advisory businesses will be invited to play central roles in providing information, guidance and advice to retirees following the far-reaching changes announced at Budget 2014, under plans being devised by the Personal Finance Society (PFS).

Professional Adviser | 10 Apr 2014 | 12:41
Association of British Insurers logo

ABI and APFA join forces on tackling new tax regulation

The Association of British Insurers (ABI) and Association of Professional Financial Advisers (APFA) have issued joint guidance for advisers and insurers on complying with new tax information requirements.

Professional Adviser | 09 Apr 2014 | 12:44
chris-gibson-smith

Partnership chairman: We will adapt to post-Budget world

Changes to savers' rights to access their pension savings announced in the Budget may lead to provider Partnership reviewing its business model and strategy, but the company will continue to have a role to play in the at-retirement market, its chairman said on Wednesday.

IFAonline | 09 Apr 2014 | 08:09
scott-sinclair

Blog: Can insurers pass the impartiality test?

Here's a starter for ten: could insurance companies deliver a retirement ‘advice' service that is both cost effective and able to pass a public test of impartiality?

Professional Adviser | 08 Apr 2014 | 14:17
clock striking twelve with pound sign

Not dancing yet: One adviser's caution over FCA long-stop promise

An adviser who has campaigned for the re-introduction of a long-stop on complaints against financial advisers reaching the Ombudsman has urged caution and patience after the Financial Conduct Authority (FCA) promised to revisit the issue.

Professional Adviser | 07 Apr 2014 | 22:22
keith-richards-tenet

PFS proposes retirement advice ‘voucher system’ funded by fines

The Personal Finance Society (PFS) was investigating establishing a National Retirement Advice Service before the Chancellor’s Budget promise and believes an advice voucher system could be set up funded by redistributing regulatory fines.

IFAonline | 07 Apr 2014 | 15:18
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Small print: What the changes to drawdown mean for your clients

Interim changes to capped and flexible drawdown add to the complexity of providing advice over the next 12 months. Scottish Widows' Sandra Hogg looks at what you need to know...

Professional Adviser | 04 Apr 2014 | 15:59
phil-loney-in-jacket

Royal London CEO: We need a 'new form' of advice after Budget pensions move

Royal London Group chief executive Phil Loney has called on the industry and regulator to come up with a "new form of advice" to service those at point of retirement and meet the challenge set by the Chancellor.

Professional Adviser | 03 Apr 2014 | 07:34
tyrie

FCA under fire for headline-seeking annuities review

Treasury select committee chairman Andrew Tyrie has criticised the regulator’s review of the annuities market, saying it was headline grabbing and had “taken us very little further forward” in terms of giving insight into the problems of the market.

IFAonline | 02 Apr 2014 | 11:40
osborne4

Chancellor joins the fray over ‘damaging' FCA probe leak

Chancellor George Osborne has written to the chairman of the Financial Conduct Authority (FCA) criticising the regulator for its "damaging" behaviour in releasing details of its investigation into insurance policies before a formal announcement.

IFAonline | 01 Apr 2014 | 13:23
hannant-chris

Campaigners cheer FCA pledge to consult on advisers' 'uncapped liability'

Industry campaigners have welcomed confirmation the Financial Conduct Authority (FCA) will consult on the re-introduction of a 15-year time limit on complaints against advisers reaching the Financial Ombudsman Service (FOS).

IFAonline | 31 Mar 2014 | 12:49
fca

Call for Wheatley resignation after review 'blunder'

Martin Wheatley, the chief executive of the Financial Conduct Authority (FCA), is facing calls for his resignation after the regulator made an "extraordinary blunder" that hit insurers' share prices, according to reports.

IFAonline | 31 Mar 2014 | 07:26
tyrie

FCA may have made 'extraordinary blunder', says Tyrie

The Financial Conduct Authority (FCA) may have made an 'extraordinary blunder' in allowing market sensitive information about its work to reach the public domain ahead of schedule, thereby creating a disorderly market in shares, Treasury Select Committee (TSC) chairman Andrew Tyrie said on Saturday.

IFAonline | 29 Mar 2014 | 14:16
boardroom656

Lawyers called in to investigate FCA handling of closed policy probe

The Financial Conduct Authority (FCA) board has called in lawyers to investigate the regulator's handling of the revelation it is to examine the fair treatment of "long standing" customers in life insurance products, a revelation which sparked huge losses in some insurers' share prices on Friday.

IFAonline | 28 Mar 2014 | 21:51
avivalogo2

Aviva: FCA closed policies probe to have 'minimal' impact on profits

Aviva has played down the potential impact on its bottom line of a regulatory probe into the closed life insurance policy market.

IFAonline | 28 Mar 2014 | 16:53

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