Andrew Bailey has been confirmed today as the new Governor of the Bank of England after three years as chief executive of the Financial Conduct Authority.

The FCA is to ban the ‘mass marketing’ of speculative mini-bonds following the recent debacle which saw mini-bond provider London Capital & Finance go bust earlier this year owing £236m to 14,000 bondholders.

I ended my last commentary by expressing concern for all senior managers working with SIPPs – whether as a provider or adviser – given the ongoing regulatory uncertainty particularly around the responsibilities for investment due diligence.

The FCA wants better disclosure to clients on climate change issues and ‘green’ financial products.