Best Practice | 21 May 18
FCA warns firms of robo-advice failings
Firms offering robo-advice have been accused by the UK’s Financial Conduct Authority (FCA) of using unclear charging structures and failing to protect vulnerable clients.
Russian dirty money entering UK through BOTs, report says
Money laundering is a matter of national security for the UK, and it therefore has the constitutional right to make British Overseas Territories (BOTs) introduce public registers of beneficial ownership, according to a select committee report.
PEOPLE MOVES: Woodbrook, AMP, Arlo Associates
Woodbrook Group hires an industry veteran to manage its Spain operations, AMP’s chief risk officer for its advice division resigns and Arlo Associates appoints a tech entrepreneur to chair its board.
Fidelity and Amazon create virtual reality financial adviser
The research arm of Fidelity Investments has teamed up with Amazon to develop a digital financial adviser, which people can interact with through a virtual reality headset.
Six Singapore advisers banned for mis-selling
Former Prudential, AIA and Citibank employees have been prohibited from providing financial advice services in Singapore, after they were found to have mis-sold investment products.