SIPP industry veteran John Moret has warned the sector that it must grasp the potential impact for SIPP providers of the new Consumer Duty requirements.

The Financial Conduct Authority has fined BGC Brokers LP, GFI Brokers Limited and GFI Securities Limited (together, BGC/GFI) £4,775,200 for failing to ensure they had appropriate systems and controls in place to effectively detect market abuse.

Fast-expanding Nottingham-based Financial Planner Wren Sterling has acquired north east-based advisers Morfitt & Turnbull (Management Services), which has around £270m of client assets.

Platform and wealth manager Hargreaves Lansdown has appointed Dunnhumby boss Dan Olley as its new chief executive officer and executive director, subject to regulatory approval.

Financial Planning software and data provider Defaqto will bolt on a comprehensive cashflow modelling tool to its Engage Financial Planning system from next year.

The Financial Services Compensation Scheme has reported that 10 regulated firms defaulted in October and November.

Guernsey-based trust and pension company the UAP Group (UAP) has acquired SIPP provider Alltrust Services and has backed Alltrust's acquisition today of failed firm Rowanmoor Personal Pensions.

The FCA has provisionally banned three bond traders for market manipulation.

SSAS firm WestBridge Group is to acquire the employees, clients and assets of Rowanmoor Executive Pensions Limited’s (REPL) book of 3,500 small self-administered schemes (SSAS), for an undisclosed sum. 

Fast-growing Chartered Financial Planning firm Fairstone has acquired Hereford-based Complete Financial Planning.