Wealth manager trade body PIMFA has attacked the FSCS forecast today of a £1bn compensation levy as a “scandal” which points to regulation failing consumers and firms.

The Financial Conduct Authority (FCA) has proposed a price cap on the fees claims management companies (CMCs) charge their customers in relation to claims for financial products and services.

The FCA has revealed that 50% of authorised firms previously using the Gabriel data reporting system have moved across to the regulator’s new RegData data collection system.

The FCA halted 343 applications for authorisation from firms and individuals in 2020 in a clampdown to protect consumers.

The FCA has issued a warning today about crypto asset-linked investment providers advertising or promising high returns.

The former interim chief executive of the FCA Christopher Woolard has been awarded a CBE in the New Year Honours list.

The Financial Conduct Authority has appointed Quilter chief executive Paul Feeney as chair of its independent Practitioner Panel.

The retail financial services sector has welcomed the UK-EU trade deal announced on Christmas Eve but warned that many question remain on the future of the financial services sector post-Brexit.

The Pensions Regulator (TPR) has banned corporate trustee Audax Pension Trust and one of its directors, Edward Martin Kelly, from acting as pension scheme trustees after multiple governance failures.

The FCA has urged financial services firms to be ready for the end of the Brexit transition period on 31 December as it prepares to make 300 updates to its website.