FCA
Ex-SJP trainee adviser banned for faking qualifications
The FCA has slapped a fine and prohibition order on a former St James’s Place trainee financial adviser who repeatedly lied and faked a document in a bid to advise retail investors without gaining the necessary qualifications.
PI woes force pension transfer firm to pull advice service
UK pension transfer specialist O&M Pension Advice will cease advising clients from 1 July after it ran into “unexpected difficulties” with its professional indemnity (PI) insurer, a problem that is becoming more common in the advice market.
Old Mutual Wealth resumes TVAS report service with £150 charge
Old Mutual Wealth (OMW) is relaunching it transfer value analysis service (Tvas), a month after it was suspended following changes to the UK regulator’s rules concerning pension transfers.
Advisers look for certainty as pension transfer flux continues
As the Financial Conduct Authority (FCA) finalises its policy paper on defined benefit (DB) pension transfers, experts hope it will bring some certainty to an industry that has been in a constant state of flux since 2015.
Providers to stump up 25% of advisers’ compensation bills
Despite some strong opposition, the UK financial regulator has released major plans to force providers to pay 25% of advisers’ Financial Services Compensation Scheme (FSCS) bills.