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FCA takes action on ‘advisory firms’ spread betting sales

The FCA is looking to impose stricter rules for firms selling risky spread bets and rolling spot foreign exchange products. The regulator said it had concerns about unsuitable advice being given by intermediaries operating in the ‘contracts for difference’ space, including high commissions, and was doing further supervision of these ‘advisory’ firms. The FCA says: […]

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DWP yet to mull aged-based pension tax relief

The Department for Work and Pensions has not conducted any research into whether a system of aged-based pension tax relief would be viable, Money Marketing has learned. A Freedom of Information Act request from Money Marketing asked DWP for any analysis, research, cost-benefit projections or other work conducted by the department into systems where tax […]

Tenet’s Mike O’Brien takes on regulatory director role

Tenet group brands director Mike O’Brien is taking on the role of group regulatory director after Gill Davidson leaves the business next month. O’Brien joined Tenet in 2009 as RDR programme director. He says: “Mifid II, the Financial Advice Market Review, Brexit and the consolidation of guidance services are but a few of the major […]

OppenheimerFunds opens EMEA office in London

OppenheimerFunds has appointed a London-based distribution head to aid its expansion in Europe, the Middle East and Africa. Doug Stewart, previously with AllianceBernstein, will become head of Emea distribution and report to Steve Paddon, head of institutional and international at OpenheimerFunds subsidiary OFI Global Asset Management. DFMs, wealth managers and fund selectors will be a […]

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