FCA chief’s performance bonus eclipses average staff pay by £10k
Andrew Bailey, chief executive at the Financial Conduct Authority, has pocketed a performance bonus for 2018 worth £10,000 more than the average remuneration of the watchdog’s whole workforce.
Adviser association chief pleads for less EU regulation
The chair of the European Federation of Financial Advisers and Intermediaries (Fecif) has called on Europe to ease up on legislation for advisers.
Competition watchdog seeks investment consultancy overhaul
The Competition and Markets Authority (CMA) has proposed a radical overhaul of the UK’s £1.6trn investment consultancy and fiduciary management industry after identifying conflicts of interest, a lack of competition and opaque fees.
Model portfolio risk labels ‘dangerously naive’
The Financial Conduct Authority has taken aim at risk-targeted model portfolios in its platforms study, which has sparked calls for platform providers to re-evaluate “subjective” branding and the amount of information they disclose.
The seven FCA remedies proposed for the platform industry
From banning exit charges to drawing on the platform industry to tackle orphan clients, the Financial Conduct Authority (FCA) has outlined seven remedies to improve consumer outcomes.
FCA confronts David and Goliath battle on fund pricing
Smaller platforms are struggling to compete with larger counterparts over fund prices because of the latter’s ability to negotiate discounts with asset managers, the Financial Conduct Authority (FCA) has warned.