The FSA cancelled the permissions of five advisers in one day for failing to submit retail mediation activities returns. They include Sheffield-based Sally Whitaker trading as Rock Pool and London-based Capital Solutions.
A recent survey by SimplyBiz which found only 4 per cent of IFAs are considering the restricted advice channel has sparked a discussion about where IFAs will position themselves after the RDR. The debate intensified when Aifa revealed it will consider holding a member vote on whether to accept restricted advisers into its ranks.SimplyBiz chairman […]
PMS has announced executive chairman John Malone has signed a contract which will extend his stay at the mortgage club for at least two further years. Malone was due to retire from PMS at the end of this year but is keen to continue working with the PMS team. Malone says: “I am looking forward […]
Concluding my look at VAT and financial services with an assessment of the factors that make a service exempt
Scottish Widows Investment Partnership investment director of international equities Colin Beveridge has quit the firm and is leaving by the end of September to take time out of the industry.
Fiona Tait takes a closer look at the Department for Work & Pensions’ forthcoming review of automatic enrolment In December, pensions minister Richard Harrington announced the scope of the DWP’s forthcoming review of automatic enrolment (AE). The review will look at AE coverage, as well as the current thresholds and age criteria. In other words: […]
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The rise in IHT takings has prompted complaints around the new residence nil rate band’s impact
The Association of Investment Companies will not be hosting the new key information documents on its website saying to do so would be irresponsible. Since 1 January, Priips legislation has meant advisers have to publish a stand-alone, standardised KID to their client including performance scenarios, risks, and the total cost of products. However, trade bodies […]
The Financial Services Compensation Scheme has paid out £5.7m so far to nearly 800 customers of collapsed discretionary fund manager Strand Capital. The payments were made to 796 investors over the past two weeks. The payments related to client cash only. The compensation was paid directly into customers’ self-invested personal pensions. An administrator’s report published in […]