FCA stops pension transfers from 16 advice firms
Sixteen UK firms agreed to stop any activities related to pension transfers in the 12 months to January 2017, the FCA has revealed.
Regulation
-
-
Wealth managers refused FCA opt out from Mifid ‘taping’ rule
New rules to force wealth managers to tape telephone calls with clients will not apply to smaller advisory firms, the FCA revealed on Friday.
-
FCA fines ex-investment banker over Whatsapp boasts
A former investment banker has been fined more than £37,000 by the FCA after he admitted trying to impress friends by revealing confidential client details in Whatsapp chats.
-
Aegon calls for providers to take greater share of FSCS burden
Financial product providers should shoulder a greater share of the burden of paying for the Financial Services Consumer Scheme (FSCS), according to Aegon.
-
IA to consult on hidden charge criticisms
Asset managers have fired a major shot in their battle to win over sceptical politicians, regulators and clients with the launch of a public consultation on a new costs and charges disclosure scheme.
-
BMO: Remuneration tops shareholder agenda
Remuneration packages will remain a contentious topic in boardrooms around the UK, according to a report from BMO Global Asset Management.
-
EC explores new fintech passporting regime
The European Commission (EC) is considering new passporting regimes to ensure a level playing field for financial technology companies.
-
FCA asset management challenge ‘way bigger’ than RDR
The FCA’s Asset Management Market Survey is akin to a “hangover” for fund groups who will “have to bear the sharp end” of the pressures on fees, according to Nucleus CEO David Ferguson.
-
Risk fears as IA loosens UK sector yield target
Investors should ‘be wary’ fund managers do not take on riskier stocks after the Investment Association (IA) loosened the yield requirements for funds in the UK Equity Income sector.
-
Miller ‘naive’ to accuse active managers of price collusion
Claims made by campaigner Gina Miller that the active management industry is ‘anti-competitive’ have been dismissed by a top portfolio manager as both ‘naïve’ and ‘dangerous’.
-
FCA consultation on IPO overhaul now open
The Financial Conduct Authority (FCA) has launched a consultation paper to tackle the inherent bias it has identified at initial public offerings (IPOs) in the UK equity market.
-
CISI pushes for higher standards with new Chartered Body Alliance
The Chartered Institute for Securities & Investment (CISI) has formed an alliance with two other chartered professional bodies to raise standards of and improve levels of trust in financial services.
