industry has to change with regulatory regime
Financial services’ culture will be at the heart of the UK’s new regulatory regime but are the industry’s leaders doing enough to get their companies in order?
Regulation
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king calls on fsa to review bank capital
The UK's four biggest banks could need raise to up to £35bn in new capital to protect themselves against future losses, the Bank of England has claimed.
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advisers sharks cuddly bears romer lee
The shift in financial responsibility from the state to the individual and the move by the regulator to ensure advisers act as the agents of their clients will be the biggest drivers of change in the financial services sector going forward, according to outgoing managing director of Morningstar OBSR, Richard Romer-Lee.
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Advisers want help explaining RDR charges
More than one-third of advisers do not believe their clients understand how they will be paying for their service next year, while a further 29% require help in explaining the impact of RDR, according to Defaqto.
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investment fraud costs 1 2bn a year
Around £1.2bn is lost to investment fraud each year in the UK as overconfident investors fail to check who they are investing with, according to Action Fraud.
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compliance staff cash in on age of regulation
Increased regulatory pressure across the financial services sector has seen compliance roles buck the industry-wide trend toward lower wages, according to a report from recruiter Robert Half.
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intermediaries ostriches and regulatory change
The ostrich sticking its head in the sand to ignore a looming threat is, I’m sorry to say, a myth. The suggestion that advisers are not paying enough attention to incoming regulatory changes, on the other hand, seems to be grounded in reality.
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BDO hires for regulatory change
Advisory firm BDO has recruited for its financial services team in response to the increase in regulatory requirements.
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is regulatory fatigue holding back intermediaries
Retail intermediaries are suffering from “regulatory fatigue” and are unable to prioritise upcoming changes that will impact their business, new research suggests.
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IFAs outline preferences
Charging clients a percentage of assets held is the preferred route to post-RDR remuneration, rather than being paid a fixed fee or on an hourly-rate basis, according to the latest survey of IFAs.
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turning away us clients fatca
The Chartered Institute for Securities & Investment (CISI) has accused the US of “behaving like a bully” in imposing unfair costs on UK investment managers through the implementation of Fatca.
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most not willing to pay for advice blackrock finds
The majority of UK consumers are unwilling to pay for financial advice despite a general sense of pessimism clouding their investment decisions, research by BlackRock has found.
