Sam Brodbeck and Mark Sands

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Whitewash: FAMR fails on adviser liabilities but paves the way for bank advice comeback

It was billed as RDR Mark II, but the FCA and the Government’s flagship advice review has been attacked for failing to tackle the biggest hurdle to mass-market advice – the issue of future liabilities. The long-awaited Financial Advice Market Review was published this week with headline recommendations including redefining advice, extending adviser charging and reform of the […]

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Advisers slam ‘massive regulatory failure’ exposed by FCA closed-book review

The FCA’s explosive review into closed-book providers has exposed the “massive failure of the treating customers fairly regime”, say advisers. Advisers say providers have finally been held “bang to rights” as the FCA investigates six firms for widespread failings around how they treat closed-book customers. Following the review six out of 11 providers have been referred to […]

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Has Labour given up on financial services?

Labour’s influence within the financial services industry is in danger of being wiped out in the aftermath of yet another ministerial reshuffle. Political experts say the party failed to capitalise on “gaping holes” in Chancellor George Osborne’s freedom and choice pension reforms during the 2015 election campaign. They are also concerned the constant churn of […]

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Cash in hand: FCA targets ‘big money’ inducements deals

Payments made by asset managers and providers to advice firms are coming under renewed scrutiny as it is revealed there are concerns Tenet is dangerously reliant on marketing deals. Last month the FCA completed a new piece of work on inducements, asking networks and nationals to provide details of all payments received by product providers, Money […]