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Advisers slam ‘massive regulatory failure’ exposed by FCA closed-book review

The FCA’s explosive review into closed-book providers has exposed the “massive failure of the treating customers fairly regime”, say advisers. Advisers say providers have finally been held “bang to rights” as the FCA investigates six firms for widespread failings around how they treat closed-book customers. Following the review six out of 11 providers have been referred to […]

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CML and BBA boards vote for trade body merger

The boards of the Council of Mortgage Lenders, British Bankers’ Association and Payments UK have voted in favour of a mooted trade body merger. The boards have urged their members to vote for a merger when they come to make their decision. Payments UK is also the first trade body to fully approve the merger […]

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FCA fines WH Ireland £1.2m for market abuse failings

The Financial Conduct Authority has fined wealth manager WH Ireland £1.2m after the firm failed to address market abuse issues. The FCA found that between January and June 2013 the firm did not have proper controls in place to prevent market abuse being detected or occurring. The regulator also said it was imposing sanctions on […]

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PPI: Huge gulf in pension savings remains despite reforms

Despite automatic enrolment and changes to the state pension, women have just half the pension savings of men, according to the Pensions Policy Institute. In the third of the think-tank’s studies of under-pensioned workers, it says the new state pension and introduction of the national living wage will reduce the savings gap. However, the study […]

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