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News by: Michelle Abrego

FCA sees complaints against firms fall by 15%

by Alex Steger , Michelle Abrego on Apr 09, 2014 at 09:16

Complaints against financial firms have fallen by 15% according to the Financial Conduct Authority (FCA).

Advisers back risk watchlist despite FCA’s troubles

by Michelle Abrego on Apr 09, 2014 at 08:32

Advisers have welcomed Financial Conduct Authority plans to review due diligence, the at-retirement market and in-house funds, despite its closed-book blunder.

FCA appoints Clifford Chance to review closed-book 'blunder'

by Michelle Abrego on Apr 08, 2014 at 14:37

The Financial Conduct Authority has appointed law firm Clifford Chance to conduct an independent inquiry into its announcement of its closed-book life policies review.

ABI: insurers can deliver gov't guidance guarantee

by Michelle Abrego on Apr 08, 2014 at 12:57

Insurers can deliver the government's guidance guarantee as long as there are proper impartiality controls in place, said the Association of British Insurers.

London IFA seeks £224k in damages against ex-adviser

by Michelle Abrego on Apr 08, 2014 at 10:17

London-based advice firm Merlin Financial Consultants is pursuing a former adviser for £224,000 over allegedly soliciting clients.

True Potential hires compliance and investment heads

by Michelle Abrego on Apr 08, 2014 at 09:57

True Potential has hired former Scottish Widow investment director Colin Beveridge as and ex-BlackRock compliance officer Sheriden Davy to bulk up its management team.

E&Y: FCA is losing patience with advisers over RDR

by Michelle Abrego on Apr 08, 2014 at 09:25

Firms are failing to transition from selling products to providing advice, causing the Financial Conduct Authority to lose patience with the advice profession, according to Ernst & Young.

FCA blames disclosure failings on ‘lack of engagement’

by Michelle Abrego on Apr 07, 2014 at 14:27

The latest thematic review by the Financial Conduct Authority has found ‘too many advisory firms are not being clear’ with clients on charges and services. The regulator has put these failings down to a ‘lack of engagement’ with its guidance on disclosure.

Fee failings: why the FCA is ‘disappointed’ over disclosure

by Michelle Abrego on Apr 07, 2014 at 11:47

The Financial Conduct Authority has found that ‘too many advisory firms are not being clear’ with clients on costs, service and status. Out of the 113 firms it reviewed the regulator found that 73% failed to provide the required information on the cost of advice. Click through to see a breakdown of the FCA’s findings.

FCA: 73% of firms not clear over cost of advice; two face enforcement

by Michelle Abrego on Apr 07, 2014 at 09:41

The Financial Conduct Authority has found that ‘too many advisory firms are not being clear’ with clients on how much advice costs, the type of service they offer and what ongoing services they provide.

CII sees drop in disciplinary cases

by Michelle Abrego on Apr 04, 2014 at 15:00

The Chartered Insurance Institute’s standards board saw a drop in disciplinary cases and advisers defaulting continuing professional development requirements.

Former ABI director Craig to lead FCA's 'guidance guarantee' work

by Michelle Abrego on Apr 04, 2014 at 11:19

The Financial Conduct Authority has appointed former Association of British Insurers director Maggie Craig to lead the regulator’s work on the at-retirement guidance guarantee announced in the Budget.

Lime’s Lucas hooks Fisher for paraplanner role

by Michelle Abrego on Apr 03, 2014 at 16:16

Paraplanner Rebecca Lucas, who launched Lime Paraplanning last year, has taken the first step towards expansion by hiring former co-worker Nicky Fisher.

FCA bans and fines broker £70k

by Michelle Abrego on Apr 03, 2014 at 10:10

The Financial Conduct Authority has banned a Chester-based insurance broker from undertaking any regulated activity and fined him £70,000.

Ingenious Asset Management and Thurleigh set for merger

by Michelle Abrego on Apr 03, 2014 at 10:00

Ingenious Asset Management and Thurleigh Investment Managers are set to merge and combine their assets for a total of £1.8 billion in funds under management.

Resolution founder pockets £200,000 after FCA 'blunder'

by Michelle Abrego on Apr 03, 2014 at 08:04

Resolution’s founder Clive Cowdery made almost £200,000 on shares he bought during the market sell-off following the reports of the Financial Conduct Authority’s closed-book insurance review.

Apfa calls on FCA to freeze fees for three years

by Michelle Abrego on Apr 03, 2014 at 08:01

The Association of Professional Financial Advisers has welcomed the reduction in advisers’ regulatory fees but called on the Financial Conduct Authority not to raise them again for three years.

Nest and L&G warn AE providers over default funds

by Michelle Abrego on Apr 02, 2014 at 16:21

Auto-enrolment pension scheme providers will need to reconsider their investment strategies in light of the changes to the pensions regime announced in the Budget, according to Legal & General and the National Employment Savings Trust.

TPAS chief makes case to supply guidance guarantee

by Michelle Abrego on Apr 02, 2014 at 15:59

The Pensions Advisory Service chief insists her team have the expertise and structures in place to provide free pensions guidance, but seeks support from advisers.

Webb: Budget is 'good news' for advisers and providers

by Michelle Abrego on Apr 02, 2014 at 10:53

Pension reforms announced in the Budget are a significant opportunity for advisers and providers, according to pension minister Steve Webb.

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