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Leader: FCA is once bitten, twice shy on closed-book review

What first struck me when reading the FCA statement on the outcome of its closed-book review was how carefully worded it was. The regulator’s thematic review into “the fair treatment of long-standing customers in the life insurance sector” (the phrase “closed-book review” is a dirty word now apparently) sets out clear examples of the poor […]

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Savers divided over advice long-stop

Consumers remain divided on the introduction of a long-stop to limit liabilities for advisers, according to research from LV=. In a survey of 836 people in December, the provider found 40 per cent of pension holders over 55 would describe the measure as unfair. By contrast, 31 per cent said such a measure would be […]

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Standard Life advice arm to buy Almary Green

Standard Life-owned advice consolidator 1825 is to buy Norwich-based adviser Almary Green. Almary Green managing director Carl Lamb is understood to be moving to 1825 as part of the deal. Lamb will continue to head the business, and join 1825’s executive committee. It represents the first major acquisition for 1825 since it was launched by […]

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SFO drops forex investigation due to lack of evidence

The Serious Fraud Office has closed its criminal investigation into foreign exchange market fraud due to “insufficient evidence”. Following a referral from the FCA, the SFO began investigating “fraudulent conduct” in the forex market in July 2014. The investigation was carried out over one and a half years and covered over half a million documents. […]

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