Consumer Duty Financial News

12.12 / 15:19

regulation FCA Treasury Select Committee Consumer Duty end FCA to unveil 'far-reaching' disclosure reforms for investment trusts before year-end

'There is going to be more onus on disclosure and that will bring a degree of additional risk into the system, an increasing onus on stewardship of investors when they are making investment decisions.'

15.02 / 14:43

regulation Wealth managers FCA Consumer Duty Financial Advice compliance FCA quizzes 20 advice firms on Consumer Duty compliance

Firms have been quizzed based on size instead of concerns over their practices.

13.02 / 13:59

regulation FCA Consumer Duty Ratings provider Fairer Finance launches fair value assessment tool

The tool allows financial services firms to assess the value offered by their products by benchmarking them against the wider market on product features, service quality and price.

11.01 / 11:47

regulation Retail investors Consumer Duty Boring Money and Broadridge launch Consumer Duty solution for asset managers

Holly Mckay (pictured) is the CEO of Boring Money, an independent financial data and insights business.

19.12 / 18:48

financial conduct authority Wealth Management Quilter Consumer Duty MPs Profiles Defaqto unveils Consumer Duty profiles for top 20 model portfolios

The profiles, now available in Defaqto’s Engage and Centra software tools, are designed to help financial advisers meet their regulatory needs as part of the Financial Conduct Authority’s Consumer Duty.

08.12 / 15:59

regulation kpmg Treasury financial conduct authority Consumer Duty FCA plans 'new form of simplified advice' in extensive review

The FCA noted that the proposals were high-level at this stage, not definitive and reflected early thinking. The regulator said they would evolve based on stakeholder feedback and further engagement.

07.12 / 12:45

regulation FCA Consumer Duty vulnerability fall FCA: Investment firms fall short of Consumer Duty vulnerability and data sharing requirements

The FCA has seen evidence that some companies view vulnerability as a 'low priority', whereas other have not considered it at all.

04.12 / 15:32

regulation Asset Managers Consumer Duty FSCS consultation FCA opens consultation on Overseas Funds Regime

The OFR consultation will be open for feedback until 12 February 2024.

08.11 / 16:23

regulation fees companies risk Wealth managers financial conduct authority Consumer Duty FCA takes aim at wealth managers over high-risk and high-fee products

'We continue to see firms charging for services which are not delivered, overtrading on portfolios to generate high transaction fees and providing a product or service which does not align with the needs of consumers.'

02.11 / 10:57

regulation fees Financial Services Consumer Duty St James's Place NOT FCA warns 'top priority' Consumer Duty 'not once and done' event

The regulator warned firms they have to embed customers’ interests centrally in their culture and purpose, across strategy, governance, leadership and people policies, not just compliance.

17.10 / 08:13

companies FCA Wealth Management Consumer Duty assessment of value St James's Place place regulatory St James's Place overhauls fee structure after regulatory pressure

Andrew Croft (pictured) is the outgoing CEO at St James's Place.

13.10 / 08:11

regulation fees companies Financial Services Wealth managers financial conduct authority Consumer Duty reform place regulatory St James's Place under regulatory scrutiny to reform fee structure - reports

A former employee said regulators have been pressuring SJP for almost a decade to overhaul its fee structure.

06.10 / 13:13

Fidelity FCA Consumer Duty assessment of value Platforms Interactive Investor interactive investor moves to restrict poor value investments on its platform

The platform said it is not currently publishing a list of unavailable investments, but it is alerting customers who have regular investments set up.

13.09 / 14:19

fees BlackRock companies financial conduct authority Unit trusts/OEICs AJ Bell Consumer Duty pricing BlackRock tiered fund pricing structure divides opinion

'Active managers as yet have not truly grasped the nettle that the cost of investing in active funds is still too high.'

17.08 / 12:45

AJ Bell Quilter Consumer Duty Platforms Platform industry suffers worst Q2 sales since 2010

Hargreaves Lansdown attracted £902m in net sales for the second quarter of 2023.

10.08 / 13:29

regulation FCA Unit trusts/OEICs Investment Association Consumer Duty assessment of value FCA: Managers 'undermine' value assessment process by basing fees off competitors

'It is vital that firms make sure they are not solely focused on a fund’s profitability over value for money for investors.'

07.08 / 08:49

Morningstar companies Bank of America Consumer Duty St. James's Place H1 2023 place Bank of America upgrades St James's Place to 'Buy' after share plunge

Andrew Croft (pictured) is the CEO of St James's Place.

27.07 / 10:43

companies Consumer Duty Inflows place St James's Place shares slump on Consumer Duty charge cap and inflows slowdown

Andrew Croft (pictured) is the CEO of St James's Place.

20.07 / 07:51

companies AJ Bell Consumer Duty Q3 Customers AJ Bell customers and AUM climb in Q3

Michael Summersgill (pictured) is the CEO of AJ Bell.

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