Financial services compliance training – remote v face-to-face at the “end” of the pandemic
Setting the remote scene I have been doing remote compliance training since March 2020. I rather like it as a trainer. At home, the coffee is much better and I don’t have to wear shoes and socks. From a professional point of view, I can dig up examples off my computer broadly on request. I […]
Pension Transfers – oh dear
It is difficult for me to know how to respond to the FCA’s consultation on doing a drains up review of all advice given to transfer from the British Steel Pension Scheme. If an IFA asks my advice about pension transfers from defined benefit schemes, I almost invariably tell them to give up their permission […]
Pension misselling scams- when will they ever end? – Page, Henderson, Freer and Ward X 2
The 308 pages of the Upper Tribunal’s decision in the ghastly references brought by Andrew Page, Aiden Henderson, William Freer, Thomas Ward and Robert Ward hammer home a terrifying message. Sending people to consult an independent financial adviser is not necessarily the right thing to do. These individuals basically diverted huge numbers of people’s pensions […]
The FCA does not need the court’s permission to start enforcement action for breach of the listing rules and market abuse against an insolvent company
Financial Conduct Authority v Carillion Plc [2021] EWHC 2871 (Ch) decides that since enforcement action is not a legal proceeding, the FCA does not need the permission of an insolvency court to proceed against a firm in liquidation. Section 130(2) of the Insolvency Act reads: “When a winding-up order has been made or a provisional […]
The High Court follows FOS’ view on commercial insurance non-disclosure
https://www.bailii.org/ew/cases/EWHC/Ch/2021/2538.html sees Mr Justice Snowden relying on the ambiguity of Zurich’s questions to reject its attempt to avoid a commercial insurance policy for a failure to make fair presentation or misrepresentation.