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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.


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.

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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


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.

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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. 

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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. 

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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. 

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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.

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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. 


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.

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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.


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.


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. 

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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. 

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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. 

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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)


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.

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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)


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


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. 

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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. 

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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. 

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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.

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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)


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. 


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)


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.

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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)


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.


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.


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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