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FOS appoints former Which? boss to lead review into complaints failures

The Financial Ombudsman Service has appointed Money and Mental Health Policy Institute vice chair Richard Lloyd to lead an independent review into its complaints handling process. The former Which? executive director has been charged with producing a report into FOS’ practices after a Channel 4 documentary earlier this year suggested a number of failures at […]

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Old Mutual Wealth to charge £150 for TVAS reports

Old Mutual Wealth has launched a new transfer value analysis service after suspending its old service in March. Old Mutual Wealth stopped all transfer value analysis report services after the FCA said such offerings could act as inducements in it’s policy paper on defined benefit transfers. Standard Life, Prudential, LV= and Scottish Widows also suspended […]

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FSCS default list published as British Steel IFA and ‘fraudulent’ DFM in spotlight

The Financial Services Compensation Scheme has released the full list of firms it declared in default in March, including an advice firm facing allegations of unsuitable British Steel pension transfers and a discretionary fund manager being investigated by US authorities. Active Wealth and Beaufort Securities are two of 11 financial firms on the FSCS’ list. […]

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Tony Wickenden: HMRC strengthens its anti-avoidance armoury

Changes that come into force from September are further reminders that tax cannot be ignored by merely placing assets overseas I have written extensively in this publication over the past few years about the Treasury’s and HM Revenue & Customs’ attitude to tax avoidance. A powerful combination of success in tribunal and court cases, targeted anti-avoidance […]

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