Mis-selling
Tax & Regulation | 24 Feb 16
Little proof FCA actions reduce mis-selling – NAO
The Financial Conduct Authority lacks “good evidence” that its enforcement actions are helping to reduce levels of mis-selling of financial services products, according to the National Audit Office (NAO).
Middle East | 28 Jan 16
Key financial mis-selling case in Dubai nears conclusion
One of the biggest financial mis-selling cases in the Gulf region between a wealthy Kuwaiti family and Switzerland’s Bank J. Safra Sarasin and its authorised subsidiary, Bank Sarasin-Alpen (ME) Ltd which has now ceased operations, is nearing a conclusion following a new DIFC court ruling.
United Kingdom | 20 Oct 15
SIPP complaints up by a third in Q2 says UK Ombudsman
Complaints about self-invested personal pensions (SIPPs) rose by a third during the second quarter of 2015, while term assurance product complaints decreased by 23%, according to the UK’s Financial Ombudsman Service (FOS).
Tax & Regulation | 27 Jul 15
FCA issues guidance for firms to prevent product mis-selling
Advisory firms should not “rule by fear” and put undue pressure on staff if they underperform against sales targets, the Financial Conduct Authority has said in new guidance issued on Monday.
Hong Kong SFC fines Phillips Securities over fund mis-selling
The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined Phillip Securities (HK) Ltd $1 million for failings in selling a fund to four clients who lost their investment.