Regulation

        MPs tell FCA: Act now on retirement ‘second line of defence’ or face fresh mis-selling scandal

        Professional Adviser | 18 Dec 2014 | 13:36

        The Financial Conduct Authority (FCA) must establish a ‘second line of defence’ for retirees ahead of pension freedom or the industry faces another major mis-selling scandal, according to MPs.

        Big Ben photo by UK Parliament
        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
        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

    Other Regulation articles

      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
      Money down drain

      Network calls for 'sensibly priced' retirement advice to combat non-advised drawdown trap

      The chairman of IFA network Sense has called on advisers to come up with a “sensibly priced” at-retirement service, saying the prospect of non-advised drawdown left him “horrified”.

      Professional Adviser | 12 Dec 2014 | 07:47
      quality

      Public wants quality-of-advice benchmark, report suggests

      Consumers are put off seeking regulated advice because they don't know how to judge its quality, research commissioned by the Financial Conduct Authority (FCA) suggests.

      Professional Adviser | 11 Dec 2014 | 13:22
      tully-andrew

      ‘Fundamental’ retirement income problems must be dealt with before pension freedom

      Fundamental problems with the shopping around system for annuities must be addressed before pension freedoms being in April, experts have said.

      Professional Adviser | 11 Dec 2014 | 11:10
      fca-logo

      Six problems the FCA found with providers' annuity sales

      Consumer research undertaken by the Financial Conduct Authority (FCA) found that 40% of consumers do not exercise their option to switch and instead purchase an annuity from their existing pension provider. The regulator found six key reasons why.

      Professional Adviser | 11 Dec 2014 | 08:33
      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
      jon-gwinnett-b-w

      The need for speed: Can pension transfer innovation solve the savings gap?

      Pension transfers are set to hit two million a year within the next 12 months as pot follows member begins. That, Jon Gwinnett writes, is just one reason why the industry needs to get its house in order

      Professional Adviser | 09 Dec 2014 | 10:45
      davidtrenner

      Why we’re happy to pay for guaranteed guidance

      David Trenner outlines why he thinks financial advisers should support the guidance guarantee

      Retirement Planner | 09 Dec 2014 | 10:04
      tully-andrew

      Should providers be the second line of defence for non-advised retirees?

      Pension freedoms bring greater risks as well as choice, especially for those who don’t take advice or guidance. But, Andrew Tully argues, the FCA and providers can help…

      Retirement Planner | 09 Dec 2014 | 10:02
      foslogo

      FOS rules out charging complainants

      The Financial Ombudsman Service (FOS) has ruled out charging "nominal" fees to complainants, agreeing with Parliament's view the service must be free to ensure the public's confidence in it.

      Professional Adviser | 09 Dec 2014 | 07:40
      tyrie

      Tyrie: The FCA must improve

      Treasury Committee chairman Andrew Tyrie has said the Financial Conduct Authority (FCA) must engage more with the regulated community and do more for consumers, as the City watchdog announced sweeping structural and personnel changes following a strategic review.

      Professional Adviser | 09 Dec 2014 | 07:39
      budget-2012-george-mashup-extended

      What support do advisers need on Budget changes

      In this roundtable Helen Morrissey asks a panel of industry experts about the support advisers need when advising on the Budget

      Retirement Planner | 05 Dec 2014 | 10:24
      holt-natanje

      Will Budget changes complicate Key Features Illustrations?

      Blended retirement illustrations are coming by next April. However, Natanje Holt wonders if the increased complexity will make these documents impossible to understand

      Retirement Planner | 04 Dec 2014 | 15:18
      money-pound-notes2

      12% of what? Advisers say guidance guarantee cost cut not enough

      Financial advisers say they are ‘livid’ they are being asked to contribute to the cost of running the government’s guidance guarantee, despite latest attempts by the regulator to curb the cost for the industry.

      Professional Adviser | 04 Dec 2014 | 11:11
      steve-gazzard1

      IFP eyes return to surplus despite inducements crackdown

      The Institute of Financial Planning (IFP) is "on track" to at least break even in 2014 and is hopeful of a small surplus, despite the challenge presented by a regulatory crackdown on inducements.

      Professional Adviser | 03 Dec 2014 | 08:02
      fca-logo

      FCA: We want wrongdoers shunned by peers

      Regulatory enforcement is not just about increasing the size and frequency of fines, but about the industry forcing better behaviours by shunning wrongdoers, Financial Conduct Authority (FCA) enforcement director Tracey McDermott has said.

      Professional Adviser | 02 Dec 2014 | 12:19
      brucemoss

      Tech provider lobbies FCA for review of stochastic modelling

      A financial planning tools provider has written to the Financial Conduct Authority (FCA) requesting it look into the appropriateness of stochastic models currently used by advisers amid concerns over their quality.

      Professional Adviser | 02 Dec 2014 | 10:07

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