Wealth management trade body PIMFA has welcomed news that the FCA will ban regulated firms ‘phoenixing’ into Claims Management Companies from 7 July.

Wealth management trade body PIMFA has urged MPs to consider a Treasury-run compensation package for British Steel Pension Scheme victims similar to the one used for London Capital & Finance mini-bond investors.

Social media companies and search engines will be responsible for preventing paid-for scam adverts on their platforms under a new amendment to the draft Online Safety Bill.

Wealth management trade association PIMFA has called on the Financial Conduct Authority (FCA) to extend the proposed implementation period for the new Consumer Duty proposals.