It's been another busy (and in some instances raucous) year in financial services. While it's been a positive 12 months in many respects for advisers, the regulator has again come in for criticism...
It has been a momentous 12 months. Abroad, the Arab Spring, Libyan civil war and eurozone debt crisis grabbed the international headlines, while the UK was rocked by riots, protests and a phone hacking scandal. This was also a landmark year for the independent financial advice industry. As ever, regulatory matters took centre stage. Some aspects of regulation – such as HMRC guidelines on VAT and adviser charging, and the FSA consultation on legacy assets, brought much-needed clarity for advisers. But other parts of the regulatory machinery added to the confusion. Plans to ban both fund...
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