The UK and EU have agreed a trade deal signed just before Christmas.
It doesn’t include financial services although talks on equivalence for financial services are due. Still unclear if that would include financial advice in any way.
This from the UK in a changing Europe thinktank is quite informative on this analysis of financial services but it also shows there’s a lot of negotiating still to be done particularly around equivalence which the EU will decide on later this year.
To quote the analysis: "In order to continue to access the single market without passporting, UK based financial services firms will either have to comply with the different requirements of individual member states or rely on equivalence decisions."
PIMFA chief executive Liz Field says that the advice sector went above and beyond in 2020.
She said: "Strong leadership recognises that benefits can be found in even the worst circumstances and our industry has performed above and beyond expectations in terms of maintaining operational resilience, good governance and regulatory compliance."
In Money Marketing, the pensions minister Guy Opperman says that the UK has made huge strides forward in terms of pensions despite Covid-19.
He says the Pension Schemes Bill’s “landmark proposals – from scam protection and improved governance, to delivering sustainable investment – will usher in changes to benefit this country for decades to come”.
Quilter chief executive Paul Feeney is to chair the FCA’s practitioner panel.
Now: Pensions customers have been hit with an online data leak over Christmas. The names, addresses, dates of birth and National Insurance numbers of some of the 1.8 million savers with the workplace pension provider were posted online earlier this month.
Very poor practice indeed.
The former interim CEO at the FCA Chris Woolard is awarded a CBE.