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Looming threat: Is the FCA going over the top on EU’s Mifid II rules?

The FCA has been accused of “gold plating” European rules and imposing onerous costs on advisers after proposing firms record all client conversations. As the regulator fires the starting gun on implementing the EU’s recast markets in financial instruments directive, experts warn the legislation will have significant implications for advisers. Last month, the FCA published […]

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FCA fines Clydesdale Bank £20.6m over PPI complaint handling

The FCA has fined Clydesdale Bank £20.6m over serious failings in the way it handled payment protection insurance complaints. This is the largest ever fine imposed by the FCA for PPI-related failings. The FCA says in mid-2011 Clydesdale implemented inappropriate policies which meant that its PPI complaint handlers were not taking into account all relevant […]

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PI brokers raise concerns over new insurer Elite

Professional indemnity insurance brokers have raised concerns about the financial strength of new PI insurer, Elite Hoyl Underwriting Management, which offers cover underwritten by Elite Insurance, entered the financial adviser market last month with claims it can halt the trend of escalating premiums. But PI brokers say advisers need to be aware that Elite Insurance […]

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Regulatory costs force Norfolk advice firm to close

Regulatory costs have been blamed for the closure of a Norfolk IFA just days after advisers saw their FSCS levies almost double to £100m. In a statement on its website, Norwich-based advice firm Taylor & Taylor says regulatory changes have made continuing as a business unviable. It says: “We very much appreciate the support provided […]

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Reality check!

Tracey Miller, Marketing Consultant I’ve just recently returned to work following 11 months of maternity leave with my second child. This ‘free time’ (cough!), meant that I could catch snippets of day time TV in between feeds and nursery runs. One particular morning, English actress Holly Matthews was giving an interview on ‘Lorraine’ about the recent […]

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