FCA
United Kingdom | 11 Mar 15
Pension industry jointly responsibile for clients
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.
Former FCA exec Clive Adamson joins Pru
The Financial Conduct Authority’s former director of supervision, Clive Adamson, is to join Prudential’s UK business, according to media reports.
Ex IFA jailed for 3 5m FX Ponzi scheme
A former independent financial adviser has been sent to prison for 10 years after running a £3.5m Ponzi scheme which fuelled his lavish lifestyle.
Tax & Regulation | 5 Mar 15
Trail commission ban to slash
The UK regulators banning of trail commission in 2016 could result in over 15,000 advisers losing their job, a report by the former director general of the association of IFAs has predicted.
FCA widens coverage of DB transfer rules
The Financial Conduct Authority (FCA) has announced that all members of UK defined benefit pension schemes must in future receive professional advice before transferring funds to defined contribution (DC) schemes.