Don’t KID yourself that VCTs are low risk
European regulatory disclosure focused around Key Information Documents is creating confusing messages around risk, argues Association of Investment Companies communications director Annabel Brodie-Smith.
Regulation
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AFM board independence falls short as FCA pushes US model
Authorised fund managers (AFM) will have to have more than double the number of independent directors on their fund boards as the UK regulator adopts aspects of the US fund governance model.
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FCA cancels advice firm’s permissions for register failure
The Financial Conduct Authority (FCA) has cancelled a financial advice firm’s permissions after it failed to submit its regulatory returns.
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Former adviser loses mismanaged Sipp claim against Rathbones
The UK’s Financial Services Ombudsman (FOS) has ruled in favour of Rathbones in a case where a client alleged the provider mismanaged his Self-Invested Person Pension (Sipp) portfolio, leading to its underperformance and a financial loss.
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FCA changes could fail to budge pre-RDR investors
Financial Conduct Authority (FCA) changes that allow asset managers to more easily switch investors between share classes could still see a minority of investors refusing to budge.
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Major lawsuit taken against Liberty Sipp
A law firm has issued more than 30 cases against self-invested personal pension provider Liberty Sipp, claiming it is the biggest lawsuit ever taken against the provider.
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GDPR boost to security software providers
EU data protection law comes into force on Friday May 25 but earnings at tech security companies could benefit throughout the year as non-compliant global companies play catch up.
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What will become of DB transfer money?
The rather shocking news that broke earlier this week was that the number of DB pension transfers reached £20.8bn in 2017 prompting questions about where the money is ending up and whether many transfers are suitable.
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Customers of failed DFM paid out
The UK’s pension lifeboat scheme has made its first compensation payments, totalling £5.7m, to customers of the failed discretionary fund manager Strand Capital.
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Priips creates unique problems for VCTs and EIS
Priips was intended to improve investors’ ability to compare investments, but tax-advantaged products highlight some of the confusion it has created in the process, according to MJ Hudson Allenbridge vice president Rotimi Ososami.
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FCA warns firms of robo-advice failings
Firms offering robo-advice have been accused by the UK’s Financial Conduct Authority (FCA) of using unclear charging structures and failing to protect vulnerable clients.
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The PI thorn in the side of DB pension transfer firms
Professional indemnity (PI) insurers are doing more than the Financial Conduct Authority to make the lives of IFAs providing defined benefit (DB) pension transfer advice difficult.
