Nearly three quarters of firms are still failing to show clients the true cost of advice, the regulator has found in what it calls a "wake-up call" for the industry which has already put two firms at risk of enforcement action.
The industry has yet to develop profitable simplified advice models because it is waiting on clearer guidance and direction from the regulator, Lighthouse group chief executive Malcolm Streatfield has said.
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The Financial Conduct Authority (FCA) is to leave its Canary Wharf base in favour of the redeveloped Olympic Park in Stratford, east London.
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Support services firm SimplyBiz Group has launched The Consumer Credit Centre (CCC) to support firms affected by the Financial Conduct Authority's (FCA) take-over of consumer credit regulation.
Prudential chief executive Tidjane Thiam received £8.7m in pay and perks last year, amid accusations that the life and pensions sector fails to treat customers fairly.
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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.
The financial industry needs "clear signals" on how to prepare for the Chancellor's 'right to advice' promise or face struggling under a sudden influx of retirement advice clients, Association of Professional Financial Advisers (APFA) director general...