Some advisory firms are failing to adequately assess clients’ capacity for loss - a key element in risk profiling, a former FCA technical specialist has told Financial Planners.

Financial Planners should avoid ‘retrofitting’ when it comes to doing due diligence on DFMs, a former FCA technical specialist said this morning.

The Financial Conduct Authority’s chief executive will be grilled by Lords today as part of a probe into poor understanding of money related matters.

The FCA has found a “high level of inaccuracies” in PII policies for insurance advisers, especially on the scope of cover for FOS awards.

The Association of Professional Financial Advisers has called for the FCA to act swiftly to strengthen rules on unregulated investments.

A firm selling ‘alternative investment’ products, including ‘fancy coloured’ diamonds, to investors including a number of vulnerable people such as a dementia sufferer, has been ordered into liquidation.

ISA interest rates are as low as 0.05% among 32 mainstream providers, a probe has shown, as new rules come into force today.

Advisers face having to stump up fees to help pay for the imminent introduction of new EU rules.

A firm describing itself as a “financial wellbeing lender” has gained FCA authorisation.

Specific risk warnings about the new Lifetime ISA must be given at the point of sale, the FCA said this morning, as it outlined how it will regulate the product.