View more on these topics

Govt sees competition as FCA priority

New Treasury financial secretary Greg Clark says one of the Financial Conduct Authority’s priorities as a new regulator should be to promote competition through removing barriers to entry and promoting product switches.

Speaking at the launch of the Journey to the FCA document in London this week, Clark said the FCA’s proposed competition mandate is one of the most important aspects of the new regulatory approach.

He said: “We need strong regulatory action to promote competition. This is an urgent task and the Government sees it as a priority for the FCA in its first few years. That means one of the priorities as a new regulator should be removing barriers to entry, expansion and exit, and promoting switching between providers and products.”

Anand Associates managing director Bhupinder Anand says: “It is all very well for Greg Clark to say he wants more competition, but in reality the Government and the FSA have already destroyed product choice and access to advice in financial services.”

Recommended

1

Paraplanner’s View: Investment proves the case for paraplanners

Us paraplanners have been banging on for some time about how important we are in a modern financial planning business and it seems others are starting to take notice now. This week saw the exciting news that threesixty has bought at 25 per cent share in The Timebank – huge congratulations to all involved. What […]

Tim Newman MM blog
2

Tim Newman: Platforms are over-complicating adviser charging

At one stage I thought the migration to adviser charging might actually be alright on the night. Having digested the FSA policy statements, I had a pretty clear view of the world to come. It was all pretty easy really. At the next ‘advice event’ with each client, the adviser would explain his post-RDR menu […]

Retail banks may be banned from selling interest rate swaps

The Government is considering banning ring-fenced retail banks from selling derivative products such as interest rate swaps to consumers in light of recent misselling scandals. In June, Barclays, HSBC, Royal Bank of Scotland and Lloyds Banking Group all agreed to pay redress after the FSA found “serious failings” in the way interest rate swaps were […]

Survey cover

EEF/Jelf Employee Benefits Sickness Absence Survey 2015

EEF stated in its 2015 EEF Manifesto that the UK’s growth prospects depend on people being fit, working and productive. Keeping people in work and helping people return to work is very important for the manufacturing sector. It means boosting productivity by getting people back into work as early as is possible, as well as fostering workplace cultures and environments that proactively manage individuals’ health conditions so that all can benefit from lower sickness absence outcomes.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com