Industry
Phoenix top as FCA complaints hit 3.8 million
Consolidator The Phoenix Group featured heavily in data from the UK Financial Conduct Authority that shows complaints about all financial services firms rose by 13% in the second half of 2017, driven by payment protection insurance (PPI) claims.
AMP misleading Aussie regulator could bring ‘jail time’
Australian treasurer Scott Morrison says revelations financial services giant AMP intentionally and repeatedly misled the regulator over advice fees charged to its own customers could result in “jail time”, a sentiment echoed by the regulator.
UK inflation drop raises questions over rate increase
UK consumer price inflation fell sharply to the lowest rate in a year last month, raising questions over the Bank of England’s (BoE) direction on interest rates.
HMRC pulls pension calculator after Royal London pressure
HM Revenue & Customs knew its pension tax calculator was giving incorrect data to users, but only pulled it once Royal London’s director of policy publicly slammed the tool.
Advice firm ‘evolves’ from restricted to independent model
UK-based Sandringham is switching from a restricted model to an independent one and is on the hunt for the right type of IFAs as it looks to nearly double its adviser numbers before the end of the year, chief executive Tim Sargisson told International Adviser.