The Government has indicated that it has received a loud and clear message that paid for advertising needs to be included in the Online Safety Bill, as Money Marketing reports.
The matter was raised in the House of Commons last week, as it debated a recommendation from the bill committee, that such advertising be included. Interesting to see a legislative committee advocating for what would be a significant change. They often seek small amendments or warn of weaknesses in legislation but follow the government line.
The Government does seem to be listening. This is the pertinent quote from the relevant minister below.
Chris Philp MP, minister for technology and the digital economy, said: “I am not going to be pre-announcing any firm commitments today because work is still ongoing, including the collective agreement process in government, but on fraud and paid-for advertising, we have heard the message of the joint committee, the Financial Conduct Authority, the financial services sector and campaigners.”
You may ask why on earth this advertising was ever excluded in the first place. Campaigners and concerned advisers should watch this closely and we don't know what the social media platforms are saying to government.
Discretionary fund managers will increasingly look to unquoted stocks, despite the liquidity concerns raised by the Woodford debacle, the chief executive Ruth Handcock of Octopus Investments tells FTAdviser.
She expects to see increasing numbers of DFMs invest in private markets such as renewables or venture capital.
There are three key viewpoints we surely need to consider here and which are lacking for now – those of advisers, their clients and of course the regulator.
Advisers have reacted somewhat rather despairingly at news of the sixth iteration of the FCA Covid survey branding it a waste of time. It does feel rather like overkill now given we have not seen huge vulnerabilities among advice businesses.
The FSCS has predicted that running costs will hit £95.5m next year. Cost for 2020/2021 stand at £85.3m.
FOS has also asked for more money to deal with a backlog of cases.
The JOHCM UK Dynamic fund and the JOHCM UK Equity Income fund are to reopen to investors having closed in in December 2019 and October 2013 respectively with the firm optimistic about the prospects for UK markets.
Martin Tilley, who has just allowed his regulatory permissions and SPS to lapse looks back in decades as a regulated person – a very interesting history.
Aviva Financial Advice managing director and UK life director Mary Harper has died.
She became MD of Aviva’s advice arm in 2020. RIP.
