The Financial Services Compensation Scheme (FSCS) will start inviting claims against Catalyst Investment group from investors in the ARM Asset Backed Securities life settlements fund by the end of March.
Regulated firms may only need to complete Section K of their Retail Mediation Activities Return (RMAR) once annually rather than the current twice-per-year under data changes proposed by the Financial Conduct Authority (FCA).
The outlook for the financial services sector is seen to be improving as a consequence of the Retail Distribution Review (RDR), but most advisers report protection sales continue to lag following its introduction.
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A compliance service designed for financial planning firms has been launched.
All the major retail banks and most medium-sized and smaller firms have made "significant" changes to their sales incentive schemes, but concerns over enticements linked to bank investment and protection sales remain, the Financial Conduct Authority (FCA) reports.
Standard Life is investigating placing a ban on adviser charging in connection with workplace pensions following discussion with the Financial Conduct Authority.
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The Financial Conduct Authority (FCA) has banned a former adviser to SLS Capital - the company whose bonds underpinned the failed Keydata investments - for giving the misleading impression that the SLS bonds were soundly backed assets.
The Financial Services Compensation Scheme (FSCS) has said it no longer expects to raise an interim levy on investment advisers for the 2013/14 period.
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