PIMFA
UK lifeboat scheme seeks additional £92m
Supplementary levy needed as life and investment intermediary claims surge
FCA writes to 55 firms over misleading financial promotions
No enforcement action has been taken but the UK watchdog has a ‘number of ongoing investigations’
Best Practice | 26 Oct 20
Pimfa calls for supervision of unregulated financial promotions
Trade body argues it would improve market and reduce burden on lifeboat scheme
83% of advice CEOs believe they won’t get affordable PI cover
Professional indemnity insurance is a ‘genuine existential threat’ to the industry
64% of advisers and wealth managers do not trust FSCS
They believe UK lifeboat scheme is unable to deliver fair outcomes for clients or firms