News by: Michelle Abrego
Markets
FCA urged to clarify platform promotion rules
The Financial Conduct Authority (FCA) needs to clarify recent rules requiring advisers to check platforms are not biased in promoting certain products, according to consultant Mark Polson.
CII targets teachers to push careers in finance
The Chartered Insurance Institute is targeting teachers in an effort to encourage pupils to choose a career in financial services.
Key Retirement Solutions parent sells stake for £35m
Key Retirement Solutions’ parent company Cabot Square Capital has sold its majority stake in the retirement specialist to Phoenix Equity Partners for £35 million.
Ingram warns adviser charging confusion reigns
Providers are still misinterpreting adviser charging rules six months after the retail distribution review (RDR) came into effect, according to David Ingram, director of consultancy Aim Two Three.
Commission calls for jail for reckless bankers
MPs have outlined recommendations to curb bankers bonuses, make reckless misconduct in bank management a criminal offence and reinforce regulatory powers in its report on banking standards.
FSCS loses appeal against landmark High Court payout ruling
The Financial Services Compensation Scheme has lost an appeal against a landmark verdict over its payout to a victim of bad advice from Berkeley Independent Advisers.
Lifetime gets into the swing of fundraising
Yorkshire-based Lifetime Financial Management has put its local charity efforts into full swing by sponsoring a golf day to raise money for the Barnsley Hospice.
Pru warns marketing allowance rules need tightening
Providers will misinterpret marketing allowance rules until the Financial Conduct Authority (FCA) clarifies what is allowed, according to Prudential. Michelle Abrego reports.
Providers call for auto-enrolment tweaks to aid small firms
Auto-enrolment may have got off to a flying start with low opt-out rates for large employers, but the government and pensions industry still has a lot of work to do if this early success is to be repeated with small firms, providers have warned.
IFA pens financial advice book for women going through a divorce
London-based IFA Hannah Foxley is publishing a book to help women who are going through a divorce to gain control of their finances.
Adviser Amanda Davidson to chair FCA pay committee
The Financial Conduct Authority has appointed IFA Amanda Davidson chair of its remuneration committee.
George Galloway rallies MPs to support Arch Cru motion
MP George Galloway has tabled an early day motion (EDM) condemning the failure of Capita Financial Managers and Financial Conduct Authority to compensate Arch Cru investors fully.
Ex-Bradford & Bingley director faces £100k FCA fine after court loss
Former Bradford & Bingley finance director Chris Willford is facing a £100,000 fine from the Financial Conduct Authority after losing a Court of Appeal case against the decision of the regulator's Regulatory Decisions Committtee.
IFP on the hunt for consumer champion after director steps down
The Institute of Financial Planning is looking for a new independent director following the departure of Richard Antrum who acted as the body’s consumer champion.
The break-up: how providers and nationals fell out of love
Aegon became the latest in an increasingly long line of providers selling off advice arms when it announced it was in talks with Intrinsic over a sale of PosSol. Click through to see the providers who have tried to off-load their advice businesses in the last few years.
FSCS declares 13 advice firms in default
The Financial Services Compensation Scheme has declared 13 financial advice firms in default.
FSCS pays out £550k on Honister claims
The Financial Services Compensation Scheme (FSCS) has paid out £550,000 to date to investors over the collapse of Honister Capital.
Towry’s Fisher hits back at Aviva over direct-to-consumer plans
Towry chief executive Andrew Fisher has hit out at providers, such as Aviva, over planned direct-to-consumer offerings which would target its back book of clients.
Aviva eyes direct-to-consumer service for back book clients
Aviva is looking at developing an online direct-to-consumer proposition to tap into its back book of clients.
Concerns over mis-selling are still rife following Ucis retail sales ban
Advisers and compliance experts have highlighted gaps in the FCA’s clampdown on Ucis sales and warn the door is still open to mis-selling.