Displaying items by tag: regulation
Advisers face setting aside money for 'bad advice' claims
Proposals from the FCA would require investment advisers to set aside a minimum of 28% of potential liabilities in advance to compensate investors if bad advice is given.
FCA secures Restraint Order against SSAS-linked firm
The FCA has secured a Restraint Order under the Proceeds of Crime Act 2002 against collapsed Newcastle-based wealth manager WealthTek, a parent company to a SSAS and SIPP investments provider.
FSCS levy forecast to soar to £415m next year
The total levy to pay for the cost of the Financial Services Compensation Scheme is set to soar by £145m from £270m this year to £415m in 2024/25.
DWP says TPR is 'well-run' but needs to be tougher
After a review launched earlier this year the DWP has concluded that The Pensions Regulator is “broadly well-run and well-regarded” but has set out a series of recommendations to improve the regulator.
FCA punishes 2 over BSPS transfer advice failings
The FCA has banned financial advisers Keith Dickinson and Andrew Allen for British Steel Pension Scheme transfer advice failings and ordered them to pay £155,000 in compensation.
Half of Planners expect Consumer Duty boost to SIPPs
Close to two thirds (61%) of Financial Planners believe pension and retail investment products will see a boost from the FCA’s new Consumer Duty.
Moret: Will Consumer Duty encourage more SIPP claims?
John Moret is one of the UK's leading pensions and SIPP experts and commentators. As he enters his 75th year, still working part-time, he continues his series of articles looking back at his long career and key topics which have steered the pensions sector. In this second article he reviews the impact of the 'Dear CEO' letter the FCA sent to SIPP firms recently and what it means for regulation.
FCA halts trading at wealth manager as arrest made
The FCA has ordered Newcastle-based wealth manager WealthTek Limited Liability Partnership to cease all regulated activities following the discovery of regulatory and operational issues.
Senior Managers’ regime review under way
The UK’s key financial regulators, the FCA, PRA and Treasury have today launched a sweeping review of the Senior Managers and Certification Regime (SM&CR).
FCA exec Delfas becomes new TPR CEO
The Pensions Regulator (TPR) has recruited experienced regulator Nausicaa Delfas to be its new chief executive.