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.
The Financial Conduct Authority has written a portfolio strategy letter to the CEOs of all investment crowdfunding firms, setting out what the regulator believes to be the principal risks affecting this sector. The letter’s author is Debbie Gupta, the FCA’s Director of Consumer Investments Supervision.
The FCA’s new Investment Firms Prudential Regime (IFPR) comes into force on 01 January 2022 and will affect all MiFID investment firms. Those investment firms need to understand how they will be categorised under the IFPR and what the new requirements will be.
Research by the Centre for Economics and Business Research, in partnership with equity release provider More2Life, has indicated that the pandemic has widened the UK’s gender pension gap, especially amongst the over 55s who are due to retire in the near future.
The Vulnerability Registration Service has revealed that more than two in five (41%) of vulnerable customers believe they have received poor treatment from a firm during the past 12 months. This covers consumers’ experiences across a wide range of firms, but financial services firms are most certainly responsible for much of the poor treatment.
Andrew Kay – the Head of Department, Retail Lending 1, Supervision, Retail and Authorisations Division at the Financial Conduct Authority – has written a Portfolio Letter to the boards of directors of mortgage third party administration firms.
The Financial Conduct Authority has announced its intention to ban and fine an adviser over alleged failings when giving pension transfer advice.
The Financial Conduct Authority has cancelled the permission of a West Midlands-based credit broker after the firm did not demonstrate that it had a suitable senior manager in place.
The Financial Conduct Authority (‘FCA’) has released its highly anticipated Business Plan which is available to read on its website. The FCA publishes a business plan annually which is an outline of the regulator’s intention and goals over the current and forthcoming years. This year, the Business Plan was published on the 15th of July 2021 alongside a webinar hosted by the new FCA Chief Executive Officer Nikhil Rathi.
The Financial Conduct Authority has issued its Annual Report, looking back on the 12 months to March 31 2021.