five advice flaws plus the fsa-favoured fixes
Along with the FSA’s publication of its mystery shopping review into banks’ investment advice came well-placed fears that other sectors of the advice industry would be next.
Regulation
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UK investors to be hit by tax despite UK opt-out
UK investors purchasing securities in countries that have signed up to the financial transaction tax (FTT) will be subject to the charge, despite the UK not having signed up.
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santander advisers peril tip of iceberg
Santander's plight is an example of financial advisers’ job insecurity as a result of RDR implementation and an overall downsizing of the market, according to wealth manager True Potential.
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idea for international regulatory body idiotic
One of the proposals from The Group of Thirty's latest report into long-term finance and economic growth is for international and national financial regulatory bodies. Idiots…
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fsa uses trusted secret weapon to supervise advice
The Financial Services Authority has deployed mystery shoppers for the first time since investigating PPI mis-selling in 2008, as it strived to judge the suitability of high street investment advice in the run up to RDR.
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FSA decision on VCTs REITs ETPs
Fund managers have welcomed the news the FSA is re-thinking proposals to restrict the promotion and sale of venture capital trusts (VCTs), real estate investment trusts (REITs) and exchange traded products (ETPs).
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UBS fined 9 and half m by FSA
UBS has agreed to settle a case brought against it by the FSA early, reducing its fine to £9.5m from £13.5m.
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hedge fund pay packets esma
The European Securities and Markets Authority (ESMA) has published final guidelines on the remuneration of alternative investment fund managers (AIFMs), which will align them with other financial sectors, it announced today.
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fsa fines rbs libor
The FSA has released details of RBS’ penalty for Libor failings, amounting to £87.5m due to misconduct from a number of employees over a number of years.
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inevstors hit by 16bn in hidden fees
UK investors face over £16bn in hidden fees and charges per year, according to latest research from SCM Private for its True and Fair Campaign launched just over a year ago.
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getting up to standard
The role of accredited bodies has become even more important post-RDR given the FSA’s move to drive up the professional standards of advisers. But how do businesses know they are with the right institution and whether its fees are justified?
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More levy notice in FSCS revision
The revised Financial Services Compensation Scheme (FSCS) funding rules could lessen the impact of interim levies on contributors.
