May 2019
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Latest - REGULATION / COMPLIANCE

  • Industry escapes FCA imposition of mandatory transfer times – for now

    14 March 2019

    The FCA has said it will not set enforceable switching and transfer times as yet, as a result of the industry undertaking self-improvement through launch of the STAR initiative. In its Investment Platforms Market Study Final Report, the regulator set out its final position on improving switching and transfer times, as well as relevant...

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  • Chancellor plans legislation to protect financial services post Brexit

    13 March 2019

    In Spring Statement Chancellor Phillip Hammond focussed on protecting financial services post Brexit, while commentators saw no reason for changes to pensions tax relief and a glimmer of hope for social care policies. Chancellor Phillip Hammond used his Spring Statement to outline plans to introduce new financial services legislation in the immediate aftermath of the...

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  • Outgoing FSCS CEO calls for more targeted approach to financial protection

    13 March 2019

    Outgoing Financial Services Compensation Scheme (FSCS) chief executive Mark Neale has called for the regulator to prioritise protection of consumers, with over half of compensation costs resulting from mis-selling or bad advice. In his speech to the UK Finance’s Retail Banking Summit, Neale said over 60% of the £3.3 billion paid out in compensation...

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  • Use clear and consistent language says Investment Association

    4 March 2019

    The Investment Association has produced a guide for fund managers, providing a series of recommendations to help fund managers address these issues and provide greater clarity when communicating about their funds.   The guide has arisen from the FCA’s Asset Management Market Study Final Report (MS15/2.3) (‘Final Report’). This Report highlighted, among other points, the...

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  • FCA raises costs and disclosures ‘concerns’ following MiFID II review

    1 March 2019

    The Regulator has published its findings following supervisory work where it looked at the costs and charges disclosures ex-ante of 50 firms authorised as MiFID investment firms. The findings raised “some concerns with the way that firms were carrying out these responsibilities”, the regulator said. The FCA review can be found here: https://www.fca.org.uk/publications/multi-firm-reviews/mifid-ii-costs-and-charges-disclosures-review-findings?twitter The...

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  • 10 stories most read by paraplanners this year

    28 February 2019

    Below we list 10 of the stories most read by paraplanners on the Professional Paraplanner website over the past month. If you’re not already signed up to receive our insightful technical, regulatory and industry content into your inbox, sign up for our daily email alert HERE. And if you know any paraplanners who would...

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  • March Issue OUT NOW

    27 February 2019

    In March’s jam-packed issue we have 10 articles for you plus your usual favourites. Click here to view! Our Paraplanner Profile maps the paraplanning career of Grant Callaghan, who was Para-Sols’ first graduate recruit and is now the firm’s head of paraplanning. Rob Kingsbury spoke to him about his views on paraplanning and his...

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  • Digital suitability reports included in software beta launch

    19 February 2019

    Advicefront is launching a beta version of the next module of its software aimed at streamlining the advice process, which will include a digitally-enabled suitability report. The software provider is seeking paraplanner beta testers. Advicefront founder and CEO José Supico (pictured) says the firm is looking to help advice firms blend digital with the...

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