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FCA: 90,000 customers in line for enhanced annuity compensation

The FCA’s review of enhanced annuity sales could see 90,000 customers receive compensation for misselling. The regulator has confirmed that from its review of the annuity market released this morning, it can estimate that the number of customers in line for redress is approaching six figures. As part of an investigation of 1200 non-advised sales […]

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EU to delay Priips regulation until 2018

The European Commission has decided to delay the introduction of its Priips regulation by one year, Money Marketing understands. The European Commission is understood to have announced a 12-month delay of the directive today in a meeting with a Council Working Group. The Commission will publicly announce the decision on 9 November, despite previously announcing […]

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RBS to pay back SME customers £400m

Royal Bank of Scotland is to introduce a new complaints process and refund fees to business customers in its former Global Restructuring Group in a programme that is expected to cost the bank £400m. The £400m covers operational costs, the refund of complex fees and redress costs from the new complaints process. The automatic refund […]

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Leeds wealth manager buys London IFA

Leeds-based wealth manager The Private Office has acquired London-based IFA firm PQR Financial Planning in a combined cash and equity deal. The deal, which marks the first acquisition by Leeds-based TPO, will bring assets the firm’s assets to £1bn and give it a turnover of £8.5m. TPO’s London office will merge with PQR and trade as PQR, […]

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