The FCA's international crackdown on illegal 'finfluencer' promotions resulted in three arrests over the past year and 650 social media 'takedown' requests, according to the FCA's annual report and accounts published today.

The FCA says that pension firms must do more for customers who have older pensions and fund savings because of concerns that some of them may be receiving poor value.

The FCA has censured WealthTek’s custodian and agreed the firm will pay £31.7m to WealthTek clients for weak financial crime controls.

The FCA is consulting on plans to change UK Listing Rules to ensure that closed‑ended investment funds, such as investment trusts and investment companies, manage conflicts of interest better.

With AI developments moving ‘dramatically faster’ than the frameworks governing it, the FCA is having to make changes of its own, according to chief executive Nikhil Rathi.

Wealth manager and Financial Planner Rathbones Investment Management Limited (FRN 116316) has halted the onboarding of clients requiring enhanced due diligence (EDD) following a Consumer Duty-focused review which highlighted issues with some clients and how they were treated.

Ex-fund manager Neil Woodford’s investment information platform W4.0 has rejected the FCA’s criticism of its service as offering regulated advice and says it will continue to develop the platform despite facing an injunction from the FCA.

The FCA has warned football clubs that they risk putting fans' money at risk by accepting sponsorships from financial firms which have no approval to operate in the UK. 

Firms that approve financial promotions on behalf of other businesses need to do more to protect consumers, according to the FCA.

Profit is essential for all businesses to thrive and invest and Financial Planners, above everything else, are business people who need to make a profit. Profit is the lifeblood of all Financial Planning firms and that's something that is sometimes forgotten.