FCA work to continue until firms use ‘common sense’
Work to clear up the boundary between advice and guidance will continue until firms learn to use “common sense” to benefit consumers, FCA chief executive Andrew Bailey has pledged.
financial regulation
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Questions raised over FCA hub
The Financial Conduct Authority (FCA) has been accused of dealing with an issue that “doesn’t need fixing” after unveiling a regulatory hub for asset management start-ups.
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Staff still in the dark over looming Mifid rules
A fifth of business leaders have admitted their employees are not even aware of the sweeping changes that will come into force under Mifid II, a survey has revealed.
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FOS backs complaint after client’s funds fall 50%
An ombudsman has backed a complaint from a former client of PFP Wealth Management after funds it chose for his pension slumped nearly 50% in the first year.
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Asset managers U-turn on Mifid II research costs
Schroders Investment Management, Union Investments, Mifid Ii, Mifid 2, Financial Regulation, Blackrock
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Researchers to lose $1.5bn in critical post-Mifid era
A halving of the cash spent on research by investment managers could see banks lose $1.5bn in revenue once Mifid II rules come into force next year.
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Mifid II research unbundling consensus grows, again
Deutsche Asset Management and Franklin Templeton are the latest firms to reveal they will take on the cost of research once Mifid II comes into force next year.
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FCA: Platforms’ best-buy lists favour affiliated funds
Best-buy fund lists compiled by direct-to-consumer platforms favour affiliated funds and those paying higher commission, research by the Financial Conduct Authority has found.
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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.
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PA ANALYSIS: The Senior Managers and Certification Regime explained
Portfolio advisers are to be subject to a new regulatory regime initially devised to make senior managers in banks responsible for the actions of staff, but soon to be applied to staff in 47,000 financial services firms.
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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.
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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.