The Government has released a consultation into measures that will see probate fees increase from £155 for probate professionals and £215 for individuals to a flat rate of £273 for all applicants.

In this exclusive Q&A Sian Fisher, CEO of the Chartered Insurance Institute, answers some key questions from Financial Planning Today Editor Kevin O'Donnell on the future of the organisation, its Personal Finance Society arm, and plans to consult with members on the direction of the 125,000 member professional body.

The Chartered Insurance Institute board has shelved, at least temporarily, any plans to deregister its Chartered Financial Planner-body, the Personal Finance Society, until the results of a major review are known next year.

Figures published yesterday by the Office for National Statistics (ONS) show that average weekly earnings grew by 6.6% year on year in the three months to May 2021, putting the pensions triple lock under further pressure.

Financial Planning firm Informed Choice is to close its office for the day on Monday 19 July in order to celebrate Freedom Day.

Wealth manager WH Ireland has returned its first profit in five years in its final results for the year ended 31 March.

Tilney, part of wealth management and Financial Planning group Tilney Smith & Williamson, had established a new investment management team at its Newcastle office.

The speech on transforming to a forward-looking, proactive regulator, delivered by Financial Conduct Authority chief executive Nikhil Rathi at the launch of the FCA’s 2021-22 Business Plan this morning:

Over the next 18 months Financial Planners can expect to see a Financial Conduct Authority (FCA) that looks and feels different, according to the regulator’s chief executive Nikhil Rathi.

The Financial Conduct Authority (FCA) is looking to open three new regional offices by the end of 2021.

The regulator announced the move in its 2021-22 Business Plan released this morning, saying that it is developing a national location strategy as it looks to promote its role as a “regulator for the whole of the UK”.

At present the FCA has offices in London and Edinburgh.

The FCA said it is exploring opening an office in Leeds with at least 100 staff based there in the first phase. The regulator said it is currently working on what functions and precise numbers the Leeds office will have.

The Bank of England is also looking to open an office in the city, moving some of its London staff to create a new hub. The Treasury also recently announced plans in the Spring Budget to create a new campus in Darlington and make Leeds the headquarters for the UK’s new infrastructure bank. 

The regulator added that it plans to establish a presence in Belfast and Cardiff for the first time by the end of the year.

The regulator also plans to double its headcount in Edinburgh to over 200 over the next 2 years.

In its business plan the regulator also announced that it will begin a review of the scope and coverage of Financial Service Compensation Scheme (FSCS). 

The regulator said its review of the FSCS will be just one of many changes as part of its commitment to be a more innovative, adaptive and assertive regulator.