The Association of Professional Financial Advisers (APFA) has called for a freeze in the Financial Conduct Authority’s (FCA) budget for the next two years to give its members a break from having to meet its steadily rising fees.
Adaptation to the RDR is having a discernible impact on profitability in the adviser community, with almost two-thirds of businesses saying they are more profitable than in 2013.
A new trade association representing UK financial advisers has been launched to give the industry a louder voice in discussions with government and regulators.
The time line for the roll-out of the implementation of MiFID II does not leave a lot of breathing room for wealth managers to get their technology up to speed, the Wealth Management Association said.
The Investment Association has issued a list of core principles that should be followed by money managers to maintain client confidence.
The UK’s Financial Conduct Authority has fined Merrill Lynch International more than £13m for transaction reporting failures, the highest penalty of its kind ever recorded.
The first reporting deadline for the US Foreign Account Tax Compliance Act (FATCA) has now passed, although “obstacles” still stand in the way of full compliance.
The UK’s Financial Conduct Authority has ruled that when a financial services firm shares customer endorsements over social media it could be covered by its promotion rules, and has set out clearer guidance on how employees can use their personal social media accounts.
There is a new and clear division of responsibility in the UK between consumers, the pensions industry and government policy makers coming into effect after 6 April that is a long way from the current system, the Financial Conduct Authority said.
The Financial Conduct Authority has issued new rules requiring firms to give appropriate risk warnings to consumers accessing their pension savings.
The FCA is showing strong support for the European Securities and Markets Authoritys (ESMA) stance on dealing commission as it prepares its own line ahead of Mifid II, coming in from 3 January 2017.
The FCA has said there is little evidence to suggest the Retail Distribution Review, RDR, has caused any major decline in the availability of financial advice and has in fact had a positive impact overall.
