Adviser network ValidPath has launched a £100,000 loan facility to help established adviser firms wanting to leave their current network who feel shackled by so-called 'golden handcuff' deals.

The FCA has warned firms to ensure that they comply with new rules that strengthen the responsibilities and expectations of principals in relation to their appointed representatives (ARs).

The Financial Conduct Authority has committed to a crackdown on appointed representatives.

At last we finally know who was to blame for all the faults in the financial advisory sector over the past 20 years - it was the appointed reps all the time. Or was it?