November 2017
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Latest - REGULATION / COMPLIANCE

  • CISI warns on FCA Approved Persons Register decision

    19 November 2017

    The Chartered Institute for Securities & Investment (CISI) has warned that the FCA’s decision to abolish the Approved Person’s Register could harm consumers. In response to the FCA’s consultation as to whether the identity of people performing Certification Functions should be made public by the firms who employ them, the CISI cautioned that firms...

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  • Budget: Possible pensions, tax and investment changes and a wish list

    17 November 2017

    Les Cameron, head of technical at Prudential, considers the key pensions, tax and investment issues the Chancellor could address and adds a wish list of his own. Tax relief A reduction in tax relief and potential removal of the tax-free lump sum are often mooted before budgets but I don’t think the tax-free lump...

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  • Seven steps to DFM due diligence

    30 October 2017

    Andrew Denham-Davis of Brooks Macdonald recommends an end-to-end process for conducting DFM due diligence Following my article in September assessing the importance of thorough DFM due diligence and the basis upon which it might be evaluated, I’m delighted to introduce you to the most recent edition of Brooks Macdonald’s annual ‘Suggested Seven-Step Approach to...

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  • Viewing drawdown as a product risks creating poor consumer outcomes

    25 October 2017

    Responding to the FCA’s retirement outcomes review, Tom Selby, senior analyst at AJ Bell, argues that there are risks in regulation addressing drawdown as it would an annuity. The rushed nature of the pension freedoms announcement in 2014 meant there was always going to be a certain amount of regulatory catch-up. As the dust...

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  • Rowanmoor offering free SSAS Legal Entity Identifier required under MiFID II

    25 October 2017

    Pensions provider Rowanmoor is offering a free Legal Entity Identifier (LEI) registration service for clients with a SSAS and Family Pension Trust. The service is designed for SSAS and Family Pension Trust trustees, with one or more stockbroking accounts or investment portfolios in their schemes, the company said. As part of the MiFID II,...

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  • DB pensions transfers suitability – where we see failings

    17 October 2017

    Steve Bailey, director of compliance consultancy ATEB Consulting, is not surprised by the recent figures published by the Regulator on DB transfer suitability and says, in his experience, there is one main area where the suitability process falls down. ATEB regularly undertakes file checks on defined benefit transfers. We frequently reject cases, primarily as the...

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  • Intelliflo forms GDPR working group

    2 October 2017

    Intelliflo has formed a working group to help identify and tackle the challenges advice firms may face from the incoming General Data Protection Regulation. The Intelliflo GDPR Customer Working Group, comprising representatives from 11 major networks and advice firms, will meet to discuss how firms should interpret the key articles of the GDPR regulation...

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  • MiFID II – expect no leniency from FCA firms warned

    1 October 2017

    Firms must not expect the FCA to show leniency around the MiFID II requirements and should focus on meeting the January deadline, warns BNY Mellon’s Pershing. With just 100 days until MiFID II comes into force, there is an indication within the industry that some firms will struggle to complete all the requirements in...

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