Sixteen trade bodies have written to the Chancellor Jeremy Hunt asking him to intervene to stymie FCA plans to name and shame firms when they are in the midst of investigations.
As FTAdviser reports organisations, including Pimfa and the City of London Corporation, have said in a letter that the regulator's plans would put UK financial services at a serious disadvantage and arguing that the FCA should find other means for achieving its transparency and efficiency goals.
Under the proposals, the FCA will decide whether to name firms at the outset of an investigation, giving firms as little as 24 hours' notice, and the decision will be based on various metrics driven by public interest factors, such as whether it will draw out whistleblowers or protect consumers.
Interesting story including the sheer number of organisations involved. (I think I would have liked to see them listed.)
A record £198m was repaid by HMRC on flexible pension withdrawals for the tax year 2023/24, the latest data shows.
The data also shows that over £42m was repaid in the first three months of this year, Money Marketing reports.
Writing in Money Marketing, Paul Miles, founder and director of the Silverback Consultancy, discusses what the onboarding process will look like in an AI enabled advice business.
It does all sound very dramatic in terms of potential productivity gains.
Single pensioners need £277.5k more in their pension pots to secure a ‘moderate’ standard of living in retirement than pensioner couples calculates Phoenix Life as FTAdviser reports.
Advisers have been called to use social media apps such as TikTok to enhance their engagement strategies with younger clients by Morningstar head of adviser solutions Anastasia Georgiou speaking at PA360.
I find this to be a rather interesting story.
M&G fund manager Carl Vine, speaking on a New Model Adviser video, says he convinced Toyota to talk more about its innovations in battery technology and that this contributed to a surge in its share price.
