Is this some much-needed transparency from the PFS? It has announced a governance review covering the PFS CEO’s role, the PFS Board’s operations and structure and advice provided to the board by both the CII governance team and other relevant CII advisors. In addition, it will examine the PFS Board decisions taken as a result of this advice.
The review, which will be carried out by Integrity Governance, will then make recommendations for the future.
Advisers reported in FTAdviser tend to welcome the review, but some are concerned that it will not have the scope to look at financial matters between the CII and PFS, which they feel to be at the crux of the matter.
The Chancellor Jeremy Hunt may be wondering whether people will ever be grateful.
Money Marketing suggests it would have been better for him to have scrapped the MPAA along with the Lifetime Allowance.
The FCA has ordered WealthTek LLP to cease operations following “serious regulatory” breaches.
It has also appointed BDO LLP, through the high court, to take control of WealthTek pending a court hearing.
Three people have been jailed for a combined 24.5 years for their roles in an investment fraud after being prosecuted by the Financial Conduct Authority reports FTAdviser.
Following an eight-week trial, Cameron Vickers, 27 of Essex, Raheel Mirza, 38 of East London, and Opeyemi Solaja, 33 of Northamptonshire, were convicted of conspiracy to defraud through a fake, London-based company called Bespoke Markets Group.
A nicely angled story but not great news for advisers. The FCA is looking to collect £94.6m from advisers in fees over the next financial year, 8.9% more than it needed last year, after inflation hit the regulator’s running costs reports New Model Adviser.
Royal London has acquired Aegon UK’s individual protection book involving around 400,000 customers.
The most common first name for a financial adviser in the UK is ‘David’, according to new research from Aviva, as Professional Adviser reports.