Wealth managers

Investment Week sister title Professional Adviser has obtained the latest list of advice firms being pursued as lead defendants by the Financial Services Compensation Scheme (FSCS) in relation to Keydata sales.

A further 12 advice firms have been declared in default by the Financial Services Compensation Scheme (FSCS).

All seven product providers featured on Sesame's restricted advice panel have denied breaching the regulator's rules on inducements, after the network was fined £1.6m for selling spots to the highest bidders.

The Financial Conduct Authority (FCA) has extended to January its support for a 'negotiated settlement' for investors in the failed Connaught Series 1 fund.

Three former senior executives of a high street insurer have been banned and fined a total of almost £1m for their role in an aggressive sales culture which led to the mis-selling of insurance add-ons to consumers.

CoCos off the menu

Sesame, the UK's largest network of financial advisers, has been fined £1.6m by the Financial Conduct Authority (FCA) for setting up a pay-to-play scheme that undermined RDR rules.

The Financial Conduct Authority (FCA) has fined Yorkshire Building Society £4.1m for failings when dealing with its mortgage customers experiencing payment difficulties.

The Financial Conduct Authority (FCA) is proposing to make its block on the distribution of contingent convertible bonds (CoCos) to retail investors permanent, following a temporary ban earlier this year.

The Financial Conduct Authority (FCA) has offered help to financial advisers who want to build simplified advice models, saying it is prepared to give 'individual guidance' or an 'informal steer' as part of its Project Innovate.