Giving clients a second chance at protection
Compensation payments due to consumers mis-sold Payment Protection Insurance (PPI) slowed in January for the first time since September, with £403m paid in redress.
A shadow minister has claimed the FSA's Treating Customers Fairly (TCF) initiative has failed to adequately protect consumers.
Banking giant Lloyds is to strip five current and former senior bankers of some £1m in bonuses over their role in the mis-selling of payment protection insurance (PPI), according to the Telegraph.
Investors cannot be counted on to make rational choices so regulators need to "step into their footprints" and limit or ban the sale of potentially harmful products, the head of the UK's new consumer protection watchdog said.
IFAs have claimed providers of individual protection products consistently fail to meet their expectations in dealing with existing business, Defaqto said.
The Financial Ombudsman Service (FOS) will not seek to redact the names of businesses when it makes public its final decisions following a client complaint.
Under TCF regulations, advisers are required to look at their client's financial wellbeing and needs. With this in mind, what prominence should cash plans be given, and should they ever be at the forefront of a client's requirements.
Axa's Graham Harvey asks if proposals to 'read-across' the RDR to protection risk demeaning the treating customers fairly (TCF) principles...
IntelliFlo has launched a set of tools which allow pension and investment advisers to tailor financial plans for their clients' future.
The pension switching review has implications for the entire market including platform to platform re-registration, Skandia says
New wrap platform Novia Financial has formed a partnership with technology provider FinQS to offer cost effective TCF management information tools for advisers.
Aifa's new policy director talks to Paul Robertson about issues affecting IFAs - from challenges of the RDR, to TCF deadlines and the ongoing PPI investigation - plus Kylie Minogue
The Intermediary Mortgage Lenders Association (IMLA) has hit back at the FSA for suggesting specialist lenders are not adhering to TCF principles when handling arrears.
Just 13pc of assessed firms met the FSA's March deadline for TCF, the regulator revealed today in its latest update.
The FSA says it anticipates 20% of larger firms will fail to meet its December deadline for demonstrating they are treating customers fairly (TCF).
IFAonline.co.uk has been inundated with comments on mortgage dual-pricing over the last few months. In response to requests from our readers, we are launching a campaign on the issue with a view to making the FSA listen properly to advisers' and brokers'...
The FSA appears to be uncertain about the TCF implications of mortgage brokers no longer being able to access the best deals in the marketplace.
Dominic Fraser-Smith discusses the implications of the new FSA Treating Customers Fairly (TCF) deadlines for equity release
Many people are being advised to use equity release before they retire in order to consolidate their debts in what could be a serious breach of TCF, warns Duncan Young, managing director of equity release provider Retirement Plus.