The FSA has warned intermediaries that the reporting rules for the FSAVC mis-selling review will cha...
The FSA has warned intermediaries that the reporting rules for the FSAVC mis-selling review will change on 1 December, the date of N2. It said that reports returned late from intermediaries will be subject to a new sliding scale of financial penalties. The amount that a firm pays will depend on how late its returns are and the annual level of fees payable by the firm to the FSA. The regulator gives the example of a small firm receiving a £100 penalty for a return that is five days late and £400 penalty for a return that is 25 days late. Firms that have 50 FSAVC cases or less will be able to report via the internet. To get a current password and user name to report in this way contact [email protected] .gov.uk.
Feasibility study due
'Let’s be bold enough to demand change'
Joint life second death option added to relieve tax burden on couples gifting assets
Backed by Schroders, LGIM and the IA
New system for funds without without three-year track record