The FSA has fined IFA CFS Independent 25,000 for serious failures on systems and controls, risk management and compliance. The regulator concluded that CFS had a poor risk management strategy, relied heavily on third parties to comply with regulatory requirements and was not aware of key obligations when a firm is entrusted with client money and client assets.
Nigel Payne is assuming full responsibility as managing director of The Mortgage Business replacing current md Bill Dudgeon.Current TMB directors Bill Dudgeon, Mark Bergin, David Parry and Paul Graham are leaving the business to join Deutsche Bank at the end of September. Deutsche has been widely tipped to enter mortgage lending business by the end […]
The Chartered Insurance Institute has finally won chartered status – a very significant step along the road to making advisers into a profession.The bar is set very high.
Whenever a new person walks into a high-profile job, it is always intriguing to see how he or she differs from their predecessor, not just in terms of approach but priorities.
First-time buyers Charcol senior technical manager, mortgages, Ray Boulger says a parent’s Sipp investment could help their children move into their first home
Jonathan Platt, Head of Fixed Income at Royal London Asset Management, looks at the three trends that his team see shaping bond markets this week. Read the article here: The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back […]
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Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]