The definition of what constitutes advice is still unclear and innovation in financial services is being stifled by a fear of being penalised for attempting something new, firms have told the FCA.

The Investment Management Association fears some of the firms that may end up coughing up to fund the Government's new retirement guidance service will be ones that don't actually benefit from it.

Financial advisers will be unfairly hit by costs for the new retirement service because they will have to pay a disproportionate amount, an advisory support firm has claimed. Read more ...

A merchant banking group has set up a new private office division for wealthy individuals and their families providing trust and fiduciary services. Read more ...

The FCA has punished Barclays Bank with the highest ever fine for client asset breaches - leaving the bank having to pay nearly £38 million.

A complaint against a Financial Planning firm following an 'unsuitable' £50,000 investment for a client who had come into some inheritance money has been upheld by The Financial Ombudsman Service.

The FCA believes that some investors who put money into the EEA Life Settlements fund, a UCIS or unregulated collective investment scheme, were mis-sold. Read more ...

Paraplanners want to see the creation of a unified standard for their profession, including a minimum level of qualification, and have even suggested creating their own distinct professional body, Financial Planner Online has been told.

An investment adviser has today been banned by the FCA from performing any function in relation to any regulated activity.

The emerging Paraplanner Powwow movement could be set to expand further still with the national event doubling its time next year.