The FSA has been carrying out covert monitoring of structured product advice and has asked a number of structured product providers to keep an eye on IFA firms, as part of a discreet review of the controversial sector.

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Another Article Mary Stevens, regulatory editorial UK manger from Wolters Kluwer Financial Services, said: “Even though we are only part way through 2010 the fines percentage is well over double last years’ final total reflecting the FSA’s increased pressure on IFAs as it gears up for the retail distribution review implementation.” Lee Werrell, CEO of [...]

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Another ArticleProtection advisers wanting to join Sesame are now being required to pass the Chartered Insurance Institute’s CF three financial protection exam within three months of joining the network. The company has given existing members who specialise in protection two years to pass the qualification. Learning manager Graham Addison says existing advisers have been given [...]

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There is much discussion and conjecture about the final look of the financial services landscape post-Retail Distribution Review. There is a sector within the RDR proposals that may have been overlooked or dumbed down; the Recognised Professional Body (RPB) advisers.

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Another ArticleClarkson Hill is rumoured to be in talks with appointed representatives later today as concerns continue over its regulatory capital requirements. There has been no trading activity on its alternative investment market listing since markets closed on Monday 2 August. The national IFA firm consisting of 340 advisers with 10 branches, has been in continuing [...]

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Another ArticleThe Financial Services Authority, in their wisdom have increased their enforcement activity and a surge of S166 Skilled Persons Reports demands have arived through the doors of many authorised firms in the UK. As many people are aware, the S166 Report is a tool used by the FSA to better understand what goes on [...]

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Another ArticleCompliance Consultants within the UK are in extremely short supply. Whilst banks and insurance companies install and augment their regulatory obligations, such as Solvency II, they have pulled in all the expertise from what was a bouyant marketplace. Daily rates for freelance consultants have skyrocketed as all the quality and efficient consultants have been [...]

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Another ArticleIf you are on notice of a regulatory visit in the near future, you may need to prepare thoroughly so that the visit goes smoothly. Most firms need help in preparation but you can find some ideas on our page http://www.cei-compliance-limited.co.uk/regulatory-visits.html You can also get a TCF guide and idea checksheet by sending a [...]

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Another ArticleIn 2008/2009 there were 56 Section 166 Reports completed costing a total of £12,800,000. Compare this to 2005/2006 when 17 reports were completed at a total cost of £3,700,000 and you will see the average case has escalated in cost, mainly due to the big consultancies charging into the area with their large teams [...]

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Another ArticleThe High Court has today ordered John Anderson, Kenneth Peacock and Kautilya Nandan Pruthi to pay approximately £115m to the FSA for unlawfully accepting deposits without authorisation from the FSA. The ruling follows another High Court judgment on March 25, 2010 which ruled that Pruthi, Anderson and Peacock, under their trading names Business Consulting [...]

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