FCA

Sesame, the UK's largest network of financial advisers, has been fined £1.6m by the Financial Conduct Authority (FCA) for setting up a pay-to-play scheme that "undermined the ban on commission payments brought in by the Retail Distribution Review (RDR)"....

Past and present appointed representatives (ARs) of Sesame have expressed their anger at being told advice previously passed by the network as suitable has now been deemed wrong in a widespread review following a £6m fine from the regulator.

In this week's Retirement Planner news round-up we highlight five key stories you might have missed over the past seven days.

The Financial Conduct Authority (FCA) has fined Yorkshire Building Society £4.1m for failings when dealing with its mortgage customers experiencing payment difficulties.

The Serious Fraud Office (SFO) has begun criminal proceedings against broker Noel Cryan in connection with the manipulation of the London inter-bank offered rate (LIBOR).

The Financial Conduct Authority (FCA) is proposing to limit the distribution of mutual society shares to 'sophisticated' or high net worth investors, unless specific requirements have been met.

The Financial Conduct Authority (FCA) has offered help to financial advisers who want to build simplified advice models, saying it is prepared to give 'individual guidance' or an 'informal steer' as part of its Project Innovate.

A former Positive Solutions adviser has been ordered to repay £55,000 to the clients she stole from.

The Financial Conduct Authority (FCA) has discontinued an investigation into whether a distribution deal between Partnership Assurance and an advisory firm contravened its rules on incentives, according to the provider.

A group of investors in troubled overseas property scheme Harlequin have dropped a case against the scheme's chairman David Ames, and his company director wife Carol, that alleged the pair made false claims about the investment.