FCA

'Charges debate is about value as well as clarity'

The Financial Conduct Authority (FCA) plans to cut the adviser guidance guarantee levy by 50% and has announced tougher standards on the bodies tasked with delivering guidance to the public.

The number of financial advisers has risen slightly since the implementation of the Retail Distribution Review (RDR), although there has been a dip this year, according to new FCA figures.

Some wealth managers are unclear and inconsistent in their communication with clients regarding in-house fund ranges, an FCA review has found.

After the forex fine

The Financial Conduct Authority (FCA) is reluctant to provide further guidance on key advisory issues on which it has already offered direction, suggesting it would not be helpful.

An action group set up to claw money back from the suspended traded life settlement fund EEA is urging investors to apply to redeem up to 5% of their shares, before the deadline of 28 November.

Financial Conduct Authority (FCA) technical specialist Rory Percival has said too many regulatory requirements concerning what charges need to be disclosed on investment and savings products make it difficult for advisers to compare costs.

Regulators have fined the Royal Bank of Scotland (RBS), NatWest and Ulster Bank £56m for IT failures which meant customers could not access banking services.

Financial Conduct Authority (FCA) chairman John Griffith-Jones said he is glad the Retail Distribution Review (RDR) did not take longer than expected, adding it achieved its aims despite failing to distinguish between guidance and advice.