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CPD Briefing: FCA reviews poor practices, Govt mulls auto-enrol ban

The latest edition of Newsbrief counts as 1 hour of structured CPD and covers the regulatory and marketplace changes which took place during October 2013. Visit the Money Marketing CPD Centre to answer 10 multiple choice questions and complete this CPD activity.

Just click into your CPD Plan and you’ll find each month’s marketplace changes round-up in your activity list.

Not yet registered? Join for free today at and access over 35 hours of independent, accredited CPD learning content. 

Learning objectives (full list of ApEx standards covered below)

Learning objectives

By reading this edition of Newsbrief and completing the MCQ test online you will be able to: Keep up to date on the regulatory and market changes that have taken place during October

  • Understand the nature of the poor practices identified by the FCA’s recent review
  • Understand why a complaint against Standard Life was not upheld by the Ombudsman
  • Understand the implications of foreign ownership of shares listed on the LSE
  • Keep up to date with the FCA’s approach to disclosure rules
  • Keep up to date with the latest developments from the Treasury and Government
  • Keep up to date with tax proposals from the major political parties
  • Understand what form pensions provision would take in an independent Scotland
  • Identify the reasons why the Government is considering an auto-enrolment commission ban
  • Understand the implications of the OFT’s proposed ban on ‘built in’ adviser commissions



Financial services regulation and ethics

Investment principles and risk


Pensions and retirement planning

Financial protection

General insurance

Apex standards covered in this edition of Newsbrief:

Subject area Learning outcome and indicative content
Financial services regulation and ethics How the retail consumer is served by the financial services industry
  − Obligations towards consumers and their perception of financial services
  The regulation of financial services
  − The role of other regulating bodies
  The FCA’s responsibilities and approach to regulation
− FCA’s statutory objectives
Investment principles and risk The macro-economic environment and its impact on asset classes
− Main long-term UK and global socio-economic trends
  − Significance of monetary and fiscal policy
  − Overview of world economies and globalisation of
Taxation The relevance of tax to individuals and trusts
  − The impact of taxes on individuals, trusts and their investments
  The UK tax system
  − Income tax
Pensions and retirement planning The political, economic and social context for pensions planning
  − Government’s role, policy and proposed reforms
  − Pensions Regulator compliance
 Financial protection The role and limitations of state benefits and state/local authority funded solutions for financial protection
  − The range and limitation of benefits
General insurance Insurance products and associated services
  − MPPI and PPI


Financial protection

DWP starts income protection auto-enrolment debate Sam Dale The Department for Work and Pensions has opened the door to introducing auto- enrolment for income protection by calling on the industry to make its case to Government. Some insurers have been pushing the Government to introduce a form of soft compulsion for employers to offer income […]


Ageas Protect reports £2.9m loss

Ageas Protect has reported a £2.9m pre-tax loss for the first nine months of the year in its latest quarterly results, published today. This compares to a pre-tax profit of £300,000 for the first nine months of 2012. Ageas Protect says the result is in line with expectations and reflects the costs of financing the […]

£117k surplus for Apfa

Apfa has generated a surplus of £117,000 for the year ending 30 June although turnover was down 30 per cent. The trade body’s annual report and accounts, published this week, show it generated a turnover of £977,074, down 30 per cent from a turnover of £1.39m in 2011/12. Turnover is made up of member subscriptions […]


Advisers hit out at ‘illogical’ FSCS interim levy

Advisers have slammed the Financial Services Compensation Scheme as “illogical” and “unfit for purpose” after it announced it will hit investment advisers with an interim levy for 2013/14. In a blog post published this week, FSCS chief executive Mark Neale said an interim levy will be triggered following the default of life settlement firm  Catalyst […]

Retirement - thumbnail

A downhill stroll?

The Department for Work and Pensions (DWP) has recently published new research, which once again demonstrates how the prospect of retirement is changing for older workers.


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