The FCA should apologise to Pension Providers and IFAs

October 17, 2014 Leave your thoughts

For the last decade, the FSA, and latterly its reincarnation as the FCA, have lambasted pension providers and the financial advisers that recommend their products. The FCA have criticised their work and insinuated that the IFAs and providers are ripping consumers off and need huge amounts of regulation to prevent them from essentially robbing the consumers.

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Eurozone latest victim of spreadsheets

May 7, 2013 Leave your thoughts

I have written frequently on the many risks to businesses due to their reliance on spreadsheets for calculations. The lack of auditability of changes made to spreadsheets and subsequently, the difficulty in tracing errors mean that the risks they pose in highly regulated complex financial environments are huge. So I […]

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The FSA needs to be wary of quick-fix solutions

September 28, 2012 Leave your thoughts

Since the Retail Distribution Review was first mooted, voices in the industry have been pointing out its primary flaw; the effect of the regulation is to put advice on financial matters out of the reach of the majority of the population, who could not possibly afford the advice they needed. […]

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FCA should listen to wise words of Confucius!

September 3, 2012 Leave your thoughts

Time is slipping past. The Financial Services Authority (FSA) is heading for abolition and with it the birth of the new regulatory system is approaching, with two separate authorities – the Prudential Regulation Authority (PRA), which will regulate the banking and investment markets, and the Financial Conduct Authority (FCA), which […]

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The Conundrum of Simplified Advice

July 4, 2012 1 Comment

This article was originally commissioned and published in April 2012 for Investment Life & Pensions Moneyfacts publication. It is written by Tom Murray, Head of Product Strategy at Exaxe. The Financial Services Authority is still struggling to get the Simplified Advice model out into the market. It is hardly surprising, […]

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Pick a Card, Any Card!

October 25, 2011 1 Comment

When a magician performs, people struggle to spot the actual trick. They know there is one and they are desperately trying to avoid being misdirected by the magician into looking in the wrong place while he completes the manoeuvre to produce the illusion. Looking at the way financial journalists are […]

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Mifid II will encourage passporting

October 21, 2011 1 Comment

The publication yesterday by the European Commission of the latest draft of the Markets in Financial Instruments Directive II (Mifid II) has only served to increase the confusion around the distribution of investment products in the UK. It appears that the Commission is determined to ban commission payments for investment […]

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Old advisers get no support from the TSC

July 18, 2011 Leave your thoughts

Saturday’s report from the Treasury Select Committee (TCS) on the Retail Distribution Review (RDR) is out and their main conclusion is that the Financial Services Authority are on the right track with RDR with one major exception – the demand that all IFAs hold level 4 qualifications after the 31st […]

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