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FCA letter to SIPP providers labelled important

SIPP administration firms under FCA scrutiny over insolvency plans

11/07/2018

SIPP administrators are being quizzed by the watchdogs and rule-makers at the Financial Conduct Authority (FCA) over the plans they have in place should they become insolvent, and over their general resilience. The Regulator wrote out to SIPP providers following a ‘Dear CEO‘ letter the previous week, to ask them questions about their professional indemnity … Continued

Concept image of a circuitboard with the FCA

Finance watchdogs look to Artificial Intelligence to detect mis-selling

10/31/2018

The UK regulator for the financial services sector – the FCA – is looking at how A.I and ‘machine learning’ may be used in the future to help detect financial advisers who mis-sell products, such as pensions and mortgages. The FCA’s Richard Monk, who is currently acting director of strategy, announced at a conference that … Continued

number of unsuitable british steel pension transfers

Transferred your British Steel Pension? As many as 1in3 may have been mis-sold

01/18/2018

Has your pension transfer away from BSPS put you at hidden risk? The Financial Conduct Authority has released some data from it’s urgently conducted check on financial advisers who advised British Steel Pension Scheme members about their pension, and the news doesn’t look great… Of the 129 cases the regulator has looked at so far, … Continued

What is a non-standard asset?

FCA probes SIPP providers about number of non-standard investments – what does it mean for your pension?

10/17/2017

Has high-complaints driven the FCA to weigh up options about mis-sold pensions? Regulator asks SIPP providers to show their cards Non-standard investments focal point on investigation What IS a non-standard Investment? Could you be effected? The Financial Conduct Authority has asked all providers of Self-Invested Personal Pensions (SIPPs) to reveal the details of any non-standard … Continued

Beaufort wing to cease to accept new monies or assets

09/11/2017

The list of FCA restrictions to Beaufort operations seems to be growing Beaufort Asset Clearing Services Limited is the latest section of Beaufort to have restrictions added to it’s FCA register record, in this case meaning that the Asset Clearing wing must “cease to accept new monies or assets”, including from either “new or existing … Continued

DFM stops taking new business

DFM Organic Investment Management suspends taking on new money to invest

07/11/2017

Organic Investment Management made the decision after an FCA visit, but the reason is not publicly known at this time Discretionary Fund Management firm, Organic Investment Management has informed independent financial advisers that it is not currently accepting new business into any of its risk-based investment portfolios. The decision, announced to IFAs via an email … Continued

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