This morning, the UK’s Financial Conduct Authority revealed its first review into the implementation of the RDR which found some advisers were claiming independent status when in fact they were offering a restricted choice of products or providers.
An early FCA review into the adjustment to RDR shows some advisers continue to describe themselves as independent yet are choosing products from a limited number of providers.
A broker has been fined and banned by the Financial Conduct Authority for failing to put into place policies he told a client he had arranged.
It seems many in the adviser community remain downbeat on RDR but, even without the regulator(s) undertaking, wouldn't market forces be pushing us in the direction of change anyway?
There was a 15% drop in the number of financial advisers following the implementation of the RDR, according to updated figures from the Association of Professional Financial Advisers.
Christina Sinclair, acting director of retail at the FCA is leaving the regulator to take on a new compliance role at Barclays.
FCA chief executive Martin Wheatley will today outline his vision for a more competitive financial landscape, with the best products and services "thriving", and the worst performing firms exiting the market.
Almost two-thirds of advisers will carry out further platform due diligence following the FCA’s platform paper, and of those 44% have already started to do so.
The FCA has introduced two legal forms of collective investment schemes as part of its policy statement on the AIFMD, bringing the UK in line with the rest of the EU.
Stock broker and asset manager Xcap Securities has been hit with a £120,900 fine for failures relating to the protection of client money and assets, the FCA revealed today.
The ban on promoting Ucis schemes introduced by the FCA earlier this week has gone by without so much as one man protesting outside the FCA’s headquarters holding a ‘Paint slogan here’ placard.
Enterprise investment schemes, venture capital trusts and ETFs are among the fund structures exempt from the FCA’s ban on the marketing of Unregulated Collective Investment Schemes (Ucis) to retail investors, much to the relief of industry experts.
