Tag: Financial Service Authority
The Prudential Regulation Authority
On 1 April 2013, the UK Financial Services Authority (FSA) was abolished and the majority of its functions transferred to two new regulators: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). On the same date, the Bank of England took over the FSA’s responsibilities for financial market infrastructures and the Financial Policy [...]
Read moreOut with the FSA and in with the FCA – will it work?
As legislation from the Finance Services Act 2012 comes into force on 1 April 2013, two new regulatory bodies, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), both under the direction of the Bank of England, are expected to formally replace the Financial Services Authority (FSA) in a major reform of the [...]
Read moreReforming UK Financial Regulation
The Financial Services Act, which received Royal Assent on 19 December 2012, establishes a framework for a new system of financial regulation in the UK. A single institution, the Bank of England, will have the responsibility, authority and tools to monitor the UK financial system as a whole, and respond accordingly. The reforms will also [...]
Read moreThe Retail Distribution Review (RDR)
On 31 December 2012, the Financial Services Authority is changing the rules about how financial advisers must be qualified, how they describe their services and the way consumers pay for them. These changes are commonly known as the ‘Retail Distribution Review’. You are likely to hear more about this in the media over the next [...]
Read moreIFP host successful seminar for solicitors
Informed Financial Planning ran – in conjunction with SIFA – a successful compliance seminar for solicitors on 27th March at the Village Hotel in Hessle. It was well received by the solicitors who attended with the feedback provided excellent. The seminar was motivated by some of the changes in the Legal Services Act for solicitors [...]
Read moreKey questions you should now be asking your IFA
Thousands and thousands of clients across the UK have long-standing and happy relationships with their Independent Financial Adviser. However, the world of financial services is changing on December 31st this year, and it may be that your independent adviser is no longer fully independent after that date. The Financial Services Authority is implementing the Retail [...]
Read moreAll IFP advisers a year ahead of RDR qualifications target
The financial services profession is undergoing some significant changes titled the Retail Distribution Review (RDR) which will come into effect from 1st January 2013. The purpose of this is to set out new guidelines of professionalism across the industry in terms of how clients will pay for the advice they receive (adviser charging), the ongoing relationships [...]
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