More help on credit for struggling families

More help on credit for struggling families

Action by Britain’s financial watchdog means thousands of struggling families across the country can still apply for new payment holidays on a range of credit agreements when their current deal ends. The Financial Conduct Authority (FCA) has told lenders they will still have to defer or suspend payments or even cancel interest charges for those …

Pensions being raided at ‘unsustainable levels’

Pensions being raided at ‘unsustainable levels’

British savers are being warned that they are taking cash from their pension pots at ‘unsustainable levels’ and risk not having enough money to see them through their retirement. Latest data from the Financial Conduct Authority (FCA) reveals that savers with smaller pots – typically between £10,000 and £100,000 – were taking money at high …

Three year investigation launched into consumer investments

Three year investigation launched into consumer investments

Britain’s financial watchdog has launched a three year investigation into consumer investments following ‘too many scams and scandals’. The Financial Conduct Authority (FCA) believes a fundamental review of the market is needed and has asked the industry for its co-operation in the investigation. Call for input Issuing its ‘call for input’ the regulator says the …

Vulnerable customers exploited for gain – FCA

Vulnerable customers exploited for gain – FCA

Britain’s financial watchdog has promised action against firms who are exploiting vulnerable customers for their own gain. In new draft guidance it said that in its investigation of fair treatment of vulnerable customers it had found ‘many examples of good practice with firms thinking carefully about their customers and potential vulnerability’. Exploited for gain But …

Rogue financial advisors in SIPPs under investigation

Rogue financial advisors in SIPPs under investigation

Rogue financial advisors caught up in mis-selling SIPPs are being investigated for setting up their business and then joining new advice companies or running companies that manage mis-selling claims. An investigation by the Sunday Times has found that more than 100 advisors have been referred to the Financial Conduct Authority (FCA) for what is known …