Although this month has been centred on Consumer Duty, Professional Adviser also wrote some eye-opening stories ranging from ‘finfluencers’ to the hot annuities market…
Policy watch… Earlier this month (10 July), it was revealed the Financial Conduct Authority (FCA) had reported a decline in enforcement activity against both firms and individuals in the last financial year, as discovered by a Freedom of Information request. The watchdog also wrote to investment platforms to understand their approach in view of the Consumer Duty regulation. Platforms were also questioned as to how much interest they are making through cash and bank deposits they pass on to customers. The FCA also had a firm focus on the rise of ‘finfluencers' this month, which are f...
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