I will give Jeremy Hunt his due – he knows how to ruin a Friday. There I was, settling in to what I hoped would be a quiet today. Being my birthday today I was hoping celebrations would start a little earlier than standard finishing time. How wrong I was. This morning, with little warning, […]
Archives for 2022
Chancellor to scrap PRIIPs rules among 30 reforms
Chancellor Jeremy Hunt has today announced what he’s called the ‘Edinburgh Reforms’ – major plans to shake up financial services to improve competition and growth post-Brexit. Mr Hunt wants 30 reforms of financial regulation to make financial services one of the UK’s five key growth sectors. He is planning a sweeping series of reforms to make […]
FCA fines Santander UK £107.7m for money laundering failures
The FCA has fined Santander UK Plc (Santander) £107,793,300 for “serious and persistent gaps” in its anti-money laundering (AML) controls. The ‘red flag’ failures relate to the Spanish-owned bank’s Business Banking customers. Nearly £300m was transferred through the bank without proper checks. Between 31 December 2012 and 18 October 2017, the bank failed to properly […]
Morgan Stanley layoffs spare ‘recession-proof’ wealth jobs
Thanks for joining us at the New Zealand Roadshow 2022
As the New Zealand Roadshow 2022 – Tiny Edition comes to a close, we reflect on an incredible six months on the road. We visited 28 locations across Aotearoa, travelled over 7000 kms, hosted 112 events, and served over 800 coffees from our tiny home. It’s been a whirlwind few months, and we’re feeling grateful […]
Can Robinhood IRAs make retirement saving ‘cool’? Advisors hope so
Pathstone acquires $35B trust firm amid industry’s estate planning push
3 disqualified over £44m SIPP mis-selling
Three directors – two of them IFAs – have been fined and disqualified as directors over a £44m SIPP mis-selling scheme. Hundreds of investors lost a total of at least £44m in the SIPP-based scheme. Aiden Henderson, 40, of Olney, Andrew Page, 61, of Shrewsbury and Thomas Ward, 61, of Romford have all been disqualified […]
Pension firms told to look ‘beyond narrow compliance’
The Pensions Regulator and the Financial Conduct Authority have issued a joint statement urging the pensions industry to look “beyond narrow compliance” and consider consumer outcomes. The message came in an update to the regulators’ joint regulatory strategy. The regulators said: “We want firms to consider the needs and types of consumers at the different […]
Dashboards could open door to ‘dash for DC cash’
New rules under consideration by the FCA will put Pensions Dashboard providers in a “prime position in the dash for DC cash”, according to former pensions minister Steve Webb. The FCA is currently consulting on the regulatory framework for Pensions Dashboard Service Firms. According to LCP partner Steve Webb, examination of the plans, which were revealed […]