Alan Hughes, Foot Anstey

Regulatory comment for Financial Advisers and Paraplanners - More or better regulation – or both?

The FCA have released some interesting papers recently, and generally seem to be demonstrating a more interventionist approach, or at least earlier intervention. For example the FCA have looked at P2P platforms and decided that they need to impose much more detailed regulation and governance on such platforms as the market is currently putting consumers at risk of serious detriment. The FCA are also considering more intervention on cash savings, as that market also appears not to be working for consumers. more...

Regulatory update for Financial Advisers and Paraplanners - Latest on FAMR

2018 looks like being another exciting year for the financial advice sector, full of change, challenges and opportunities. As part of that picture, the FCA released its latest Policy Statement on FAMR in early December. more...

Regulatory update for Financial Adviser and Paraplanners - FCA clarity will help advice move forward

It is an exciting time in the retail advice sector. The FCA appears to be fully engaged in considering the advice gap and how to fill it, and its initiatives are (broadly) being welcomed by the profession. more...

Better Business for Financial Advisers and Paraplanners - What’s your duty of care on past advice?

Alan Hughes, a partner at Foot Anstey, explains how a recent High Court case, Denning v Greenhalgh Financial Services Limited, has provided some useful guidance on the scope of retainers and how this may impact on the duties an adviser may owe in respect of advice given to a client by a previous firm. more...

Tax update for Financial Advisers and Paraplanners - Tax changes for non-UK domiciliaries

At the moment, non-doms who are tax resident in the UK are taxed favourably, having the option of being taxed on the "remittance basis". This means they have the opportunity to only pay tax on UK income and gains and foreign income and gains which are brought in to or "remitted" to the UK. Believe it or not the UK is a relative tax haven for these people. more...

Regulation opinion for Financial Advisers and Paraplanners - Firms do not need to turn away insistent clients

In June 2015 the FCA released Factsheet 035 for advisers, setting out its views on pension reforms and insistent clients. This was prompted by the pension freedoms legislation. The issue has been in the news again as the FCA embarks on another suitability review, asking firms for a significant amount of information including data on insistent client cases. more...

Investment News for Financial Advisers and Paraplanners - Foot Anstey: The price to pay for cultural change in financial services

The Treasury is to extend the Senior Managers and Certification Regime currently being applied to banks, insurers and a limited range of other complex firms, across the remainder of the regulated sector. This will not happen until 2018 and, as yet, there is no further detail on how it will be applied. more...

Investment News for Financial Advisers and Paraplanners - Foot Anstey: The price to pay for cultural change in financial services

The Treasury is to extend the Senior Managers and Certification Regime currently being applied to banks, insurers and a limited range of other complex firms, across the remainder of the regulated sector. This will not happen until 2018 and, as yet, there is no further detail on how it will be applied. more...

Regulation news for financial advisers and paraplanners - Foot Anstey LLP: How one complaint case proves the need for a long-stop

The FOS will bend over backwards to find a way to allow a complaint to be brought outside the usual time limits. more...

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