Novia’s Vasilieff calls on FCA to ban exit charges
The FCA should ban exit charges and admin fees charged by restricted advisers and platforms for facilitating transfers, Bill Vasilieff, chief executive at investment platform Novia Financial says.
Regulation
-
-
FCA echoes BoE’s worry over consumer credit
The Financial Conduct Authority (FCA) has echoed the Bank of England’s recent concern over escalating levels of consumer credit in the UK.
-
FCA targeted more individuals than firms in 2016
The Financial Conduct Authority convicted more senior executives and financial employees than firms last year, a report from Duff & Phelps reveals.
-
Higher IHT take points to a more aggressive HMRC
The IHT take has risen dramatically in the last two years leading NFU Mutual to warn that HMRC may be getting more aggressive with estates, even as the new nil rate residence band is introduced.
-
Revised managers’ regime will uncover ‘reckless and criminal’ firms
The Financial Conduct Authority’s extension of the senior managers’ regime will help weed out “reckless and criminal firms”, financial adviser support firm SimplyBiz Group says.
-
FCA Senior Managers Regime to cover asset managers and advisers
Adviser firms and asset managers will be brought under the FCA’s Senior Managers and Certification Regime from 2018, the watchdog has announced.
-
Firms late with Mifid paperwork need emergency plans, says FCA
Financial firms that have missed the deadline to submit crucial information for compliance with Mifid II rules must have contingency plans in place, the Financial Conduct Authority (FCA) has warned.
-
Is your DFM offering value for money?
Investors can assess whether a DFM offers value for money by unbundling the DFM’s service into admin costs, market access costs and applied research, and allocating a “reasonable cost to each”, a consultancy claims.
-
Jailed ex-Schroders trader forced to hand £350k to FCA
A judge has ruled the Financial Conduct Authority can claw back £350,000 from a former Schroders fund manager convicted of insider dealing who led a ‘criminal lifestyle’.
-
St James’s Place failing on fee transparency finds UK watchdog
Financial advisers from St James’s Place are failing to comply with rules on transparency around charges and some are misleading potential customers about what they can offer, an investigation by UK consumer watchdog Which? has found.
-
Europe’s fund industry facing dispersal as Brexit looms
Whatever the outcome of the Brexit process now under way, the shape of the asset management industry in Europe is set to change substantially, a report by the CFA Institute has found.
-
BNP Paribas settles FX issue with Fed for $246m
BNP Paribas has agreed a $246m (£189m) settlement with the US Federal Reserve Board over misconduct in its foreign exchange (FX) business between 2007 and 2013.
