The Department for Works and Pensions (DWP) has produced a factsheet for pension scheme providers but which will be of interest to advisory firms.
It aims to clarify two issues, namely:
You can access the factsheet here.
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In this age of litigation, it is pretty staggering to see that even the DWP has included a legal disclaimer in this guidance.
Nevertheless, it provides a useful source of information.
Read the factsheet carefully and file for future reference.
As you may be aware the regulation of consumer credit will move from the Office of Fair Trading (OFT) to the FCA on 01 April 2014. Find out what you need to do here.
There is a Government e-petition here which aims to increase the protection afforded to Financial Advisers by removing the Ombudsman’s right to consider a claim without any long-stop restriction and without applying the Limitation Act 1980.
RDR requires advice to be free from bias, clearly explained and transparently charged. The FCA is currently conducting a three-stage thematic review and the first part of that review has raised a number of concerns.
Currently, this is one of the questions we are most often asked.
The trouble is, there are different sources of opinion. At the end of the day, we believe that it is the FCA’s opinion that counts and this is what they say.
New Capital Resource Requirements – ATEB’s Final Warning!
Steve Bailey Compliance 2014, 2015, Mortgage, PI
We thought it would be prudent to send one final reminder regarding the change to the Capital Resource Requirements that come into force 31/12/13.