FSCS
Sipps top UK ombudsman’s list of complaints
Complaints about self-invested personal pension schemes (Sipps) had the highest success rate of any product looked at by the UK’s Financial Ombudsman Service (Fos) in the first quarter of this year.
Tax & Regulation | 13 Jul 16
FSCS payments reach record high over risky Sipps investments
Payouts to UK consumers, aggrieved by poor life and pensions advice, have more than doubled due to an increase in high risk Sipp investment claims, new figures from the Financial Services Compensation Scheme (FSCS) show.
Tax & Regulation | 14 Mar 16
Return to commission in UK ‘ruled out’ by FAMR report
In further industry reaction, a number of key players in financial services have reacted positively to the FAMR report’s positioning in favour of a fee-based only RDR regime, with no re-introduction of commission as remuneration for financial advisers.
Tax & Regulation | 19 Jan 16
Authorised UK firms hit with £363m FSCS levy
Firms authorised by the UK’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will have to collectively pay £363m ($518m, €475m) to fund the Financial Services Compensation Scheme (FSCS) in 2016/17, an increase of 13.1% from £319m in 2015/16.
Tax & Regulation | 9 Dec 15
APFA calls for product levy to reform FSCS funding
Levies set by the UK’s Financial Services Compensation Scheme (FSCS) hit an all-time high in 2015, with many firms concerned that they have reached unsustainable levels, according to APFA.