Regulation

The (real) secret to picking platforms

HSBC is to review historical pension transfer cases to see if it is earning trail income for ongoing advice it is not delivering.

The industry should not underestimate the lack of understanding among professional connection partners of the Retail Distribution Review (RDR) and its impact on advice firms, a Prudential business consultancy manager has warned.

The regulator has "completely messed up the definition of independence", said professional connections support organisation SIFA, as it claimed 95% of solicitors would still chose IFAs over restricted advisers.

SimplyBiz has launched a scheme to help heads of advice firms meet the regulatory requirements around competence and training of their advisers.

The Financial Ombudsman Service (FOS) is determined to shed its reputation as an anti-adviser body, its chief executive has said.

The former appointed representatives (ARs) of failed network Alpha 2 Omega (A2O) are facing multi-million pound legal claims as the Financial Services Compensation Scheme (FSCS) tries to claw back the money it paid to mis-sold investors.

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The Personal Finance Society (PFS) has written to the Money Advice Service (MAS) and The Pensions Advisory Service (TPAS) to suggest they change their names to better reflect the services they offer.

An adviser who stole more than £200,000 from a client's pension has now been ordered to pay it back, plus interest, as well as serve three years in prison.