08Sep

FCA Clarifies Funeral Plan Authorisation Process

The date on which the Financial Conduct Authority takes over as regulator of the funeral plan sector is now less than one year away. Ahead of July 29 2022, there is a great deal that firms in this sector should be doing in preparation. As a matter of urgency, all firms currently operating within the sector must consider how FCA regulation impacts their business and begin to make the necessary preparations, all of which can be made far easier by partnering with Scott Robert and our team of highly experienced Regulatory Advisors.

06Sep

Adviser Trade Body Highlights ‘Power Of Advice’

A new blog from the trade association the Personal Investment Management & Financial Advice Association confidently states that “professional financial advice has the power to fundamentally improve the quality of life for those who access it”. In support of this, PIMFA refers to many studies which have shown that consumers who use financial advisers have significantly higher retirement incomes. It also cites a survey which showed that 86% of people who sought financial advice believed it to be a beneficial experience.

04Sep

FCA Highlights Issue Of Wind-Down Planning By Loan Crowdfunders

It may seem counter-intuitive for a firm that is in a good trading position, and which intends to continue trading for the foreseeable future to make plans for a wind-down of their business. However, in the loan crowdfunding sector, that is exactly what the Financial Conduct Authority says all firms must do, as to fail to address this would lead to serious issues about the extent to which the firm’s customers are protected from harm.

01Sep

ICO Issues Fine Over Pension Cold Calling

The Information Commissioner’s Office has imposed a £50,000 fine on a Halifax-based firm which admitted to breaching the pensions cold calling ban on up to 96,817 occasions – it was not clear how many of the calls were eventually connected to the intended recipient, so the actual number of contraventions could be lower. The firm is now also subject to an enforcement notice, meaning that they could be prosecuted if they continue to make unsolicited calls.

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