Many advisers who, after all, had to foot some of the compensation bill for LC&F misselling will be watching the chickens coming home to roost with some interest.
London Capital & Finance's former chief executive Michael Thompson has received a 10-month suspended sentence after his breach of a restraint order imposed on his bank account. The sentence, suspended for two years, was secured by the Serious Fraud Office at Southwark Crown Court as FTAdviser reports.
The chief executive of consultancy Timeline Abraham Okusanya has praised small and medium IFAs for surviving against all odds in the face of stringent regulations and consolidation reports Money Marketing.
Millions of taxpayers face much higher late payment charges reports Money Marketing. HMRC has increased its interest rate on late payment of tax to 7% from 3.25% in 2022.
Interesting moves in the mortgage and housing market. Online estate agency Strike tells FTAdviser that it plans to treble the size of its mortgage arm over the next 12 months, once it has completed the purchase of Purplebricks.
Legal & General is reverting to the commission-on-authorisation model for protection policy sales, following a move to a payment on first debit structure, two years ago.
Scottish Widows is closing down the former Zurich platform, ‘Advance by Embark’, as part of a rebrand and major update in its adviser platform strategy, New Model Adviser reports.
HSBC has abandoned the master trust market, four years after it became the first provider to receive authorisation from TPR, as Corporate Adviser reports.
This is despite previously announcing ambition plans to be a top five player within five years. The trust has now closed without accepting any external clients at all.