Regulation

A wealth manager has entered liquidation because it is unable to pay back clients to whom it mis-sold investments, leaving Financial Services Compensation Scheme (FSCS) levy payers to pick up the bill.

While all passives share a common objective, the underlying approaches can vary, writes Kenneth Lamont

Trail commission is still important to the income of almost all advisers, according to research by software provider Intelliflo, despite the looming deadline that will see the payment method switched off for many of their clients.

Wealth management firms are facing more serious consequences from a failure to meet suitability requirements as the regulator puts practices under fresh scrutiny.

Troubled overseas property investment scheme Harlequin has put its headquarters up for sale.

Restricted advice network giant Sesame witnessed a near-30% fall in new complaints in the second half of last year, as customer gripes related to banking and credit cards rose.

An ex-Legal & General (L&G) adviser has been jailed for five years after stealing close to half a million pounds from a vulnerable elderly couple.

HM Revenue and Customs (HMRC) has secured three tribunal wins against tax avoidance schemes, protecting more than £260m in tax.

The former BlackRock executive who paid £43,000 compensation for dodging train fares has said reports of his wrongdoing have been exaggerated.

The Financial Conduct Authority (FCA) has asked UK financial advisers if they think the criteria they must meet to call themselves independent is out of sync with Europe-wide definitions.