Gina Miller takes action against FCA over Mifid II silence
Gina Miller has taken aim at the Financial Conduct Authority for a lack of transparency over its enforcement of Mifid II rules connected to costs and charges.
Regulation
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Advisers face suitability review in 2019
The Financial Conduct Authority has outlined plans to re-assess the suitability of retail investment advice in 2019, according to its latest annual report.
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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.
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FSCS battles death bond fund
The Financial Services Compensation Scheme (FSCS), which helps consumers when authorised financial services firms fail, is battling to recover money paid out to investors in a fund that went into liquidation but has since resumed making distributions.
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Schroders falls in line and dumps dual pricing
Schroders has announced it will bring the pricing of a number of its unit trust funds in line with a single pricing structure but it is unclear whether this will be cheaper for investors.
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FCA tells firms to prep for UK crashing out of EU
The Financial Conduct Authority has told regulated firms to prepare for the UK to crash out of the European Union with a “no deal” Brexit.
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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.
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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.
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High Court shuts down cold-calling pension company
An abusive UK pension company that pumped millions into notorious ‘storage’ investments has been shutdown by the High Court.
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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.
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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.
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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.
