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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.

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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

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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.

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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 

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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”.

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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.

Comments (4)

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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

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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.

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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.

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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. 

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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”.

Comments (4)

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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.

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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.

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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. 

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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.

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

17 April 2014 | By Michael Glenister

Advisers to pay £112m for 2014/15.

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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.

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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.

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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.

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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.

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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.

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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.

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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. 

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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.

Comments (2)

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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.

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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.

Comments (6)

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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

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CII handled 521 disciplinary cases in 2013

10 April 2014 | By Tessa Norman

Disciplinary action taken in 60 cases last year

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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.

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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

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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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