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Barclays rules out review of its LTI cap

24 July 2014 1:01 pm | By Devraj Ray

Lender has no plans to bring its LTI cap in line with its high street rivals.

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BoE: Lenders may have underestimated the effect of MMR

24 July 2014 12:02 pm | By Devraj Ray

MPC members feel lending volumes will be suppressed longer than expected.

Comments (7)

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TPR targets consumers with 'hard-hitting' pensions liberation campaign

24 July 2014 8:40 am | By Tom Selby

The regulator says it knows of one individual who took his own life after losing his pension to fraudsters.

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Advisers face writing blank cheque to fund Osborne's guidance guarantee

24 July 2014 8:30 am | By Steve Tolley, Tessa Norman

Cost of delivering Chancellor George Osborne’s guidance guarantee could spiral as savers access the service as many times as they like.

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FCA warns on Sipps and ETV transfers

24 July 2014 | By Tessa Norman

Review of ETV pension transfers found poor advice in a third of cases

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Revealed: Where Financial Ltd went wrong on adviser recruitment

23 July 2014 3:28 pm | By Tessa Norman

FCA final notice for Financial Ltd reveals catalogue of failings on recruitment and supervision of advisers. 

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FOS names new chief executive

23 July 2014 3:12 pm | By Natalie Holt

Principal ombudsman Caroline Wayman will head up the FOS with immediate effect.

Comments (4)

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FCA: 80% of Financial Ltd Ucis sales could be unsuitable

23 July 2014 12:32 pm | By Tessa Norman

Redress may be due to customers over Ucis and pension-switching recommendations. 

Comments (5)

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FCA imposes recruitment ban on Financial Limited

23 July 2014 10:53 am | By Tessa Norman

Regulator would have imposed £12.6m fine if it were not for firm’s financial position. 

Comments (9)

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FCA brings criminal case over unauthorised investment scheme

23 July 2014 10:01 am | By Tessa Norman

Individual faces 13 charges, including fraud. 

Comments (4)

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Govt questioned over Budget guidance qualifications

23 July 2014 9:57 am | By Steve Tolley

Labour peer Lord Kennedy has pressed the Government over what qualifications guides will need.

Comments (7)

City

Banks' bill for missold PPI hits over £20bn

23 July 2014 8:46 am | By Steve Tolley

Barclays, Lloyds and RBS are to announce to a further £1.5bn in PPI redress, Sky News reports.

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Nationwide slaps LTI cap on residential lending and tightens stress tests

22 July 2014 1:54 pm | By Devraj Ray

The lender has placed an income multiple cap of 4.75 times income on all residential applications.

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FCA fines ex-JPM Cazenove chairman £450k for market abuse

22 July 2014 10:24 am | By Tessa Norman

Regulator confirms fine after Upper Tribunal decision in May. 

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FOS reports drop in complaints but Sipp cases surge

22 July 2014 9:07 am | By Tom Selby

The Financial Ombudsman Service has reported a 46 per cent drop in year-on-year complaints between April and June.

Comments (2)

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SFO launches criminal investigation into forex rigging

22 July 2014 8:58 am | By Steve Tolley

Serious Fraud Office launches inquiry into allegations Carney says could be bigger scandal than Libor.

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FCA: What Budget guidance will look like

21 July 2014 1:55 pm | By Steve Tolley

FCA reveals there will be no limit to how many times savers can use the service in retirement.

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Advisers could pay 30% of guidance costs

21 July 2014 1:23 pm | By Tessa Norman

FCA proposes advisers paying largest proportion of guidance levy. 

Comments (26)

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FCA warns on ‘widespread’ failings in third Sipp thematic review

21 July 2014 9:54 am | By Tessa Norman

Regulator urges Sipp operators to take action in ‘Dear CEO’ letter. 

Comments (1)

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FCA review finds poor advice in third of ETV pension transfers

21 July 2014 9:21 am | By Tessa Norman

Advice firms will be told to provide redress after review identified poor practice. 

Comments (1)

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Labour eyes higher regulatory fines for repeat offenders

18 July 2014 12:23 pm | By Steve Tolley

Shadow Treasury financial secretary Cathy Jamieson says party “open” to higher fines for repeat offences and flagrant rule breaking.

Comments (2)

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FSCS widens net in Keydata legal battle

18 July 2014 12:20 pm | By Tessa Norman

FSCS seeks to make firms with claims against them of between £100k and £150k test cases in legal battle with advisers over Keydata.

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Advisers brand FCA chief Martin Wheatley's pay 'shocking'

18 July 2014 11:00 am | By Tessa Norman

Advisers slam increases in senior pay at regulatory bodies.

Comments (7)

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PI insurer enters adviser market with price pledge

18 July 2014 11:00 am | By Tessa Norman

New insurer will monitor firms’ business activity on monthly basis

Comments (4)

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Rebus sends risk warning to EIS investors after compliance concerns

18 July 2014 11:00 am | By Tessa Norman

Risk warning sent to potential investors in £2m EIS

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FCA: Lenders’ MMR questions are just 'teething problems'

18 July 2014 9:29 am | By Tessa Norman

Over-zealous affordability checks are not evidence of unintended consequences, says FCA. 

Comments (5)

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FCA chair says closed book review is a 'blot on the landscape'

18 July 2014 8:42 am | By Tessa Norman

The regulator is anxious to conclude closed book inquiry, says FCA chairman. 

Comments (3)

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Martin Wheatley warns 'phoenixing' is unacceptable

18 July 2014 8:42 am | By Tessa Norman

It is not acceptable for firms to attempt to escape from their liabilities, says FCA chief executive. 

Comments (12)

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High street banks face competition probe

18 July 2014 8:41 am | By Michael Glenister

Full review being considered after joint report with FCA finds lack of competiton in SME and current account markets.

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Not so simple: FCA fails to deliver on simplified advice

18 July 2014 8:30 am | By Tessa Norman

Long-awaited guidance on simplified advice will not give firms the confidence they need, say experts.

Comments (4)

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FCA chief: We do not like the phrase 'regulatory dividend'

17 July 2014 2:05 pm | By Tessa Norman

All firms must pay their share of regulatory costs, says FCA chief Martin Wheatley. 

Comments (7)

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FCA refers two Sipp firms to enforcement

17 July 2014 1:56 pm | By Tessa Norman

Individuals at Sipp providers in process of being referred to enforcement following thematic review. 

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FCA: Advice long-stop review on hold

17 July 2014 1:08 pm | By Tessa Norman

EU directive has put long-stop review on hold, says FCA chief Martin Wheatley. 

Comments (23)

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EEA Life Settlements scraps share sale plans after investor opposition

17 July 2014 1:07 pm | By Gary Jackson

A plan to sell off shares in the EEA Life Settlements fund has been shelved after opposition from an investor action group and a looming regulatory deadline.

Comments (1)

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FCA defends £100k away day spend

17 July 2014 11:30 am | By Tessa Norman

Chairman John-Griffiths defends the decision to hold the FCA’s November meet at a five-star luxury hotel.

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TPR investigates 785 cases over auto-enrol non-compliance

17 July 2014 11:26 am | By Tom Selby

The Pensions Regulator conducted 785 investigations into auto-enrolment non-compliance between April 2013 and March this year, using its formal powers on 18 occasions.

Comments (1)

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HMRC recoups £135m from Swiss banking clients

17 July 2014 8:37 am | By Pamela Morris

A list of 24,000 client names across Europe was leaked by former HSBC private bank employee Herve Falciani.

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House of Lords committee launches inquiry into EU regulation

16 July 2014 12:54 pm | By Steve Tolley

House of Lords inquiry to look at Europe’s new regulatory framework and whether UK has defended its interests.

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FCA set for Connaught redress talks

16 July 2014 10:06 am | By Tessa Norman

FCA says negotiated settlement of redress is best course of action. 

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FCA uncovers price comparison site failings

16 July 2014 8:50 am | By Michael Glenister

Thematic review finds that comparison sites are leading consumers to focus on price over cover.

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