FCA updates investigation into six insurance firms
An investigation into how five insurance firms treat long-standing customers will continue with only one case closed, the Financial Conduct Authority has confirmed.
Regulation
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Quarter of firms not ready for Mifid II
More than a quarter of businesses are struggling to prepare for Mifid II ahead of the January 2018 deadline, a new survey from communications firm Teleware has found.
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Fundhouse goes public with fund selection track record
Fundhouse has decided to make its fund selection track records available to the public in a push for greater transparency in a highly unregulated part of the financial services industry.
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Anti-scam warnings on fake pension websites tricking investors
Rogue pension websites are carrying anti-scam messages to try to trick UK consumers into believing that they are legitimate businesses, The Pensions Regulator (TPR) has warned.
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Allianz joins growing list of firms to shoulder Mifid research costs
Allianz Global Investors has become the latest asset manager to reveal it will take on the cost of external research once Mifid II rules come into force early next year.
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Companies increase long-term focus as quarterly reporting falls
The UK’s top companies are reducing the publication of quarterly reports with an increasing number abandoning them altogether, the Investment Association has found.
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HMRC’s rules for IHT on downsizing property are ‘impenetrable’
New HMRC guidelines on how people can downsize their home but retain the value of their previous residence for inheritance tax reduction purposes have been branded ‘impenetrable’ by accountancy body the ICAEW.
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JOHCM’s external research to cost £5m per annum
J O Hambro Capital Management (JOHCM) has joined the roster of investment managers who will pay for external research costs through their own profit & loss account, a move which will cost it an additional £5m per year.
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IA to name companies experiencing backlash on pay packages
The Investment Association (IA) has set up a public register to name and shame listed companies that are subject to shareholder opposition on executive pay.
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TV pension scam campaign would cost £2m a year
A carefully-targeted pension scam public awareness campaign including television advertising would cost in the region of £2m annually, a financial services advertising expert has said.
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PA ANALYSIS: Insistent client advice may require two suitability reports
Advisers are mulling the implications of FCA plans to incorporate the term ‘insistent client’ into its handbook guidance. The regulator has outlined what it sees as best practice – a move that could see advisers producing two suitability reports, with a particular focus on pension transfer advice.
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FCA rejects compliance officer with 20-year track record over “competence” concerns
The Financial Conduct Authority has refused to approve a compliance officer with nearly 20 years of experience from carrying out certain controlled functions on behalf of online trader Goldenway Global Investments.
