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FCA orders skilled persons reports for eight advice firms over insistent clients

The FCA has ordered eight advice firms to carry out skilled persons reports in relation to insistent clients following a thematic review on pension transfers, Money Marketing understands. A skilled persons report, also known as a Section 166 report, checks for weaknesses or failings in a firm’s practices. The review can result in enforcement action […]

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HSBC paves the way to replace chairman

HSBC is reportedly seeking a new chairman to replace Douglas Flint. Sky News reports the bank has appointed headhunters MWM Consulting to specifically replace Flint. HSBC has a long-standing relationship with headhunters MWM Consulting to recruit for non-executive directors.  Flint has served on the bank’s board since 1995, and took on the chairman’s role in 2010. While […]

HMRC amends pension reclaim form

HMRC is to change the wording of one of its new tax forms for people reclaiming overpaid tax on pension withdrawals, after confusion over who could use it. Form 55 is to be updated because it currently implies it should only be used if “you’ve only taken one payment and do not intend to take […]

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Peter Hargreaves steps down from HL board

Peter Hargreaves has stepped down from the board of Hargreaves Lansdown, the firm he co-founded with Stephen Lansdown in 1981, with immediate effect. Hargreaves says he wants to spend more time with his family and pursue other interests but will remain “in close touch” as a major shareholder. He says: “I believe this is the […]

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Pinpoint school fees planning

Many parents value the standard of education offered by independent schools and will pay for that privilege. Planning for the fee payments can help. Even if the children do not go to an independent school, they could go to university. In this case, the children can end up with a huge outstanding student loan that […]

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