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Will we see more adviser fines diverted to the FSCS?

24 April 2014 1:00 pm | By Samuel Dale

Deal has been agreed for an FCA penalty to go to the Financial Services Compensation Scheme for the first time.

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FOS upholds complaint against adviser over £30k Sipp commission

24 April 2014 12:49 pm | By Tessa Norman

Ombudsman rules initial commission on Sipp was unsuitably high.

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Pensions regulator reveals details of firm's £108,000 auto-enrol compliance failings

24 April 2014 11:18 am | By Tom Selby

Dunelm Soft Furnishings failed to pay £108,000 in pension contributions to its staff after being hit with payroll problems.


Retired IFA John Calland calls on advisers to help pursue FOS legal battle

24 April 2014 10:20 am | By Tessa Norman

Calland calls on advisers to offer legal and financial help to pursue case against FOS


FCA: ‘We don’t want to prevent progress on simplified advice’

24 April 2014 8:43 am | By Michael Glenister

FCA technical specialist Rory Percival says compliance concerns are holding firms back from developing advice models unnecessarily.

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Institutional platforms seek exemptions from FCA rules

24 April 2014 | By Sam Macdonald

Firms think they fall outside of platform definitions and can therefore retain fund manager payments.


Number of FCA senior fines drops 40% since 2010

24 April 2014 | By Tessa Norman

FCA handed out 18 senior fines last year, down 40% since 2010 


Tribunal upholds £80k fine against fraudulent mortgage broker

24 April 2014 | By Devraj Ray

Amir Khan will be fined £80,000 after the Regulatory Decisions Committee had originally recommended a fine of £100,000 in its warning notice.

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FCA unconcerned branch meetings could last over 3 hours post-MMR

24 April 2014 | By Paul Thomas

FCA mortgage head Linda Woodall says longer appointments could lead to “more sustainable outcomes”.


Advisers hit by soaring costs as PI premiums hiked by 50%

23 April 2014 3:18 pm | By Tessa Norman

Advisers facing premium hikes and onerous data requests from insurers.

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Ex-Lehman Brothers director joins FCA as senior adviser

23 April 2014 9:55 am | By Tessa Norman

Regulator appoints two senior advisers

Comments (5)


RBS fined for illegal trades in emerging market rates business

23 April 2014 8:40 am | By Pamela Morris

RBS faces a £460,000 fine by Hong Kong regulators over a series of illegal trades committed by one of its traders in 2011.


Vince Cable warns FTSE firms over 'ridiculous' pay awards

23 April 2014 8:40 am | By Gary Jackson

Business secretary Vince Cable has written to the chairmen of FTSE 100 companies’ remuneration committees to issue a warning that the Government will intervene unless they do more to curb executives’ soaring pay increases.

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Two jailed over £10m boiler room scam

23 April 2014 8:38 am | By Tessa Norman

Pair sentenced to nine years in jail after defrauding elderly investors.


Number of FCA senior fines drops 40% since 2010

22 April 2014 9:04 am | By Tessa Norman

Figures reveal drop in fines for senior managers. 


Co-op Bank report to blame poor governance for near collapse

22 April 2014 8:36 am | By Tessa Norman

Report will find Co-op Bank board did not carry out adequate due diligence on Britannia takeover

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FCA unconcerned branch meetings could last over 3 hours post-MMR

22 April 2014 0:36 am | By Paul Thomas

FCA mortgage head Linda Woodall says longer appointments could lead to “more sustainable outcomes”.

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Tribunal upholds £80,000 fine against fraudulent broker

17 April 2014 11:05 am | By Devraj Ray

£80,000 fine has been upheld by the Uper Tribunal following appeal on the scale of the penalty.


FCA bans two advisers over Sipp suitability failures

17 April 2014 10:21 am | By Samuel Dale

Andrew Rees and Timothy Hughes were partners at 1 Stop Financial Services.


Sue Lewis on delivering the Budget's retirement advice plan and why the independent and restricted labels are meaningless

17 April 2014 | By Tessa Norman

The FCA’s Consumer Panel chair shares her views on how to make the Budget pension reforms work for consumers – and has some strong words for advisers

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Adviser profits up 20% but non-advised market share grows

17 April 2014 | By Tessa Norman

Average profit per adviser rose significantly in 2013. 


Barclays tops FCA complaints data as Hargreaves complaints jump 500%

17 April 2014 | By Gary Jackson, Tessa Norman

Hargreaves says jump in complaints is down to issues around the Royal Mail share sale.


FSCS investment adviser levy set at £112m for 2014/15

17 April 2014 | By Michael Glenister

Advisers to pay £112m for 2014/15.


Forester Life to axe future trail on Children's Mutual book

17 April 2014 | By Devraj Ray

Company has written to advisers saying trail commission for existing Children’s Mutual policies will stop from the end of April.


WMA queries FSCS levy as Catalyst failure costs firms £47m

16 April 2014 9:35 am | By Pamela Morris

The Wealth Management Association has called for the FCA to consider whether promoters should also be required to pay toward its FSCS levy.


FCA issues warning notices against two insurance brokers

15 April 2014 11:26 am | By Samuel Dale

The FCA has not named the individuals or firms involved.


FCA hits out at premium rate phone lines

15 April 2014 9:48 am | By Michael Glenister

Regulator responds after Which? called for Consumer Rights Directive to apply to financial services firms.


FSCS adviser bill up 6.6 per cent despite overall levy reduction

15 April 2014 8:45 am | By Michael Glenister

Advisers to pay £112m for 2014/15.

Comments (4)


Court rejects unauthorised land bank's appeal

14 April 2014 10:41 am | By Michael Berry

Asset Land LI sold plots of land as investments without FCA approval and has been ordered to repay £21m.


Regulatory fines against individuals jump 77%

14 April 2014 10:05 am | By Natalie Holt

The FCA and FSA imposed individual fines totalling £35.5m in 2012 and 2013, compared to £20.1m over the previous two years. 


FCA reviews recruitment strategy as staff turnover continues to rise

11 April 2014 3:54 pm | By Samuel Dale

The National Audit Office warned that FCA staff turnover is undermining the regulator.

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Tax avoidance firm stops issuing products after HMRC crackdown

11 April 2014 8:58 am | By Tessa Norman

Promoter of film investment scheme will no longer issue new products 

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Co-op woes continue as Lord Myners quits

10 April 2014 8:55 am | By Devraj Ray

Former Labour financial services secretary was asked in December to conduct a review of the group.

Comments (2)


FCA's 'wake-up call' on costs disclosure: What the regulator wants from advisers

10 April 2014 8:30 am | By Tessa Norman

Advisers are failing to put customers first, says FCA.

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FCA to ditch Canary Wharf offices and move to Olympic Park

10 April 2014 | By Tessa Norman

Move to 430,000 sq ft site set to go ahead in 2018


CII handled 521 disciplinary cases in 2013

10 April 2014 | By Tessa Norman

Disciplinary action taken in 60 cases last year


Wells Street Journal: Who’s afraid of The Grey Vampire?

10 April 2014

According to reports in the Financial Times, FCA chief Martin Wheatley has been nick-named The Grey Vampire by some within his organisation.


Adviser fee information escapes EU disclosure rules

10 April 2014 | By Tessa Norman

EU policymakers agree on final text for Priips regulation after last-minute negotiations

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Money Marketing wins top media award

10 April 2014

Money Marketing was crowned trade publication of the year at the ABI’s Financial Media Awards


Interest rate swap redress reaches £598m

10 April 2014 | By Tessa Norman

Major banks paid out £116.4m in redress for interest rate swap misselling in March

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