View more on these topics

Regulator refuses to check company’s disclosure documents

An IFA firm has described its disappointment at the “unhelpful” and “irrational” nature of the FSA in refusing to vet its disclosure documents to confirm compliance.

Cane Cohen director Nicholas Cane wrote to the FSA in April to advise that it had depolarised ahead of schedule and asked the regulator to confirm the accuracy of its key facts and terms of business documents.

However, the regulator wrote back, refusing to vet the firm’s documents.

Cane says it must be better for the regulator to work with companies to ensure that they get it right from the start rather than penalise them if mistakes are made through misinterpretation.

He says: “It does seem extremely unhelpful of the FSA to refuse to do this. We thought that surely the place to go to ask for assistance would be the body that creates the rules for us to follow. Is it so unreasonable to ask for a little support?”

FSA spokeswoman Vanessa Wood says: “It would be an unwieldy task for the FSA to vet every firm’s documents.

“The rules are clearly laid out to ensure that companies produce compliant documents but if they do not understand, they can get help from our firm contact centre.”


Value for money in DC pensions

The Pension Policy Institute (PPI)’s recent report “Value for money in DC pensions” tries to identify factors by which people can assess whether their pension offers fair value for money (VFM). Fiona Tait provides an overview of the findings. Positive Outcomes It is extremely hard to assess VFM in a pension. Press activity naturally focuses […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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