SIPP complaints to the Financial Ombudsman recently faced a sharp increase. Why did this happen? Fiona Murphy reports.
The Financial Conduct Authority (FCA) has accepted it needs to invest in better communication with small firms, following recommendations by its board in January.
Financial services industry players have voiced their frustrations about the regulator's lack of clarity in the direct to consumer (D2C) and simplified advice space, saying it is hampering innovation and preventing them from bridging the advice gap.
The Financial Conduct Authority (FCA) is still concerned about transparency in the advice space, especially in relation to charging and independence, chief executive Martin Wheatley has said.
The Bank of England has maintained interest rates at 0.5% and the size of the asset purchase programme at £375bn.
Personal Touch Financial Services has said it plans to subsidise member firms' regulatory fees for 2014.
The regulator is moving away from an over-reliance on static rules and regulations to a "good judgement" approach, and expects the industry to follow suit, Martin Wheatley has said.