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FSCS calls for Sipp provider responsibility challenged by trade body

Sipp operators have no proven responsibility to conduct due diligence on investments, a trade body has said, as it warns the Financial Services Compensation Scheme is taking the wrong approach by making them foot the bill for redress claims. The Association of Member-Directed Pension Schemes has written to the lifeboat fund on the back of its […]

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TPR fines Now: Pensions £70,000 over admin failings

The Pensions Regulator has fined trustees at Now: Pensions £70,000 over administration failings and says these problems must be fixed by July 2018. It wants the master trust to resolve failings that have led to some scheme members’ savings not being collected from employers and invested over a number of years. A specific penalty of […]

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FCA ramps up warnings over online investment scams

The FCA is warning the public to be vigilant protecting themselves from online investment fraud, with figures showing investors lost an approximate daily amount of £87,410 to binary options scams last year. Latest data from the FCA’s Scam Smart campaign shows the kind of investor being targeted by online investment scams is changing. The regulator says those under 25 […]

Succession buys four more firms

Succession Group has acquired four more firms, which will add £255m in combined funds under management to the company. The acquired companies are Glasgow-based Independent Advisors (Scotland) and one of its appointed representatives Fergus Muirhead, London-based Booth Wealth Management and Warwickshire-based Rossmore Financial Services. Succession has bought 47 business between January 2014 and 31 December […]

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