Industry veteran John Moret has called on the Financial Conduct Authority (FCA) to offer greater clarity on measurement mechanisms to aid customer care performance monitoring and benchmarking.

The Financial Conduct Authority has received 2,754 allegations of misconduct including fraud, money laundering and compliance complaints, according to data from the regulator’s annual report and accounts.

The FCA has obtained a bankruptcy order against an unauthorised WhatsApp-based investment adviser after he failed to pay £530,000 in compensation to his victims.

The FCA has provisionally fined pension transfer financial adviser Geoffrey Edward Armin £1.28m for a number of advice failings.