July/Aug 2019
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Latest - REGULATION / COMPLIANCE

  • New software from O&M tackles compliant DB transfer reporting

    16 April 2019

    O&M Systems has launched a new TVC tool to support advice firms in the defined benefit transfer market. The firm said it has identified three key reports as part of this launch: 1. A client facing report containing the mandatory TVC, which runs to just 8 pages. 2. An adviser/file report, containing all the...

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  • SM&CR is a problem looming larger

    16 April 2019

    As the introduction of the Senior Management and Certification Regime (SM&CR) looms closer, a number of advisers still remain a long way from becoming compliant, a new survey has found.  While almost two thirds (62%) of advisers are well on their way to meeting the requirements before the December deadline, nearly a quarter (23%)...

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  • The problem that is Guaranteed Minimum Pensions

    15 April 2019

    Equalisation of benefits for Guaranteed Minimum Pensions is causing problems for pension schemes in terms of benefits and transfer values and requires clarification from DWP, says Fiona Tait, technical director, Intelligent Pensions Guaranteed Minimum Pension (GMP) has been in the ‘too difficult’ box for so long that for many of those reading this article...

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  • Pet hates of a file reviewer – Part II

    8 April 2019

    Readers of Professional Paraplanner will no doubt recall my article on this subject. It contained our top 12 pet hates, in reverse order. It was half in jest and a bit in earnest. Since then we have identified a few more grumbles related to file checks, so we thought it was about time for...

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  • STAR initiative to improve transfer times receives boost from FCA

    3 April 2019

    STAR reports a growing community of firms is signing to its initiative, which was highlighted in the latest FCA Investment Platforms Market Study report. STAR is aimed at delivering an industry standard for the transfer and reregistration of consumer’s money and investments from one financial company to another, thereby significantly improving the transfer performance...

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  • Conflict of interest coming under greater FCA scrutiny

    31 March 2019

    Advice firms must review their conflict of interest policies and identify all conflicts whether actual or potential, says ATEB Consulting’s Steve Bailey MiFID II tightened the regulations around how firms deal with conflicts of interest. Firms must manage conflicts, not merely disclose them. Disclosure of a conflict of interest is a measure of last...

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  • Compliance will come more under the FCA spotlight

    24 March 2019

    We can expect the Regulator to take a greater interest in firms’ compliance operations this year, says ATEB Consulting’s Steve Bailey The FCA expects those with Compliance Oversight (CF10) responsibilities to challenge management where compliance with regulatory standards and requirements is at risk. The FCA has stated, “… your job … is to force...

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  • Cathi Harrison asks: What direction for the financial advice market?

    19 March 2019

    Will we see a shift from smaller to large financial advice companies and what may be in the best interests of the client? Cathi Harrison. MD of Apricity Compliance muses on the current trend for growth and consolidation. Recently, an article caught my eye in relation to the Pearson Jones name being replaced by...

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