Hope William-Smith

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FCA to invest £5m in register

The FCA is investing £5m in its register of regulated firms, chief executive Andrew Bailey has said. Speaking at the watchdog’s annual public meeting this morning, Bailey said that he recognised “there are data quality issues” in the list, but the FCA was aware how important in can be to give consumers information. Bailey said the […]

NMBA launches mortgage adviser apprenticeship

New Model Business Academy has announced the launch of a mortgage adviser apprenticeship programme, two days after securing a long-awaited government funding grant. NMBA, part of the SimplyBiz Group, launched its first financial planner apprenticeship in April 2018 with funding from the Education and Skills Funding Agency. The undisclosed value of the government funding for […]

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FSCS sees rise in spurious mis-selling claims against brokers

The Financial Services Compensation Scheme says that it is seeing a growing number of spurious mis-selling claims against mortgage brokers. Announcing its budget and levies for 2019/20, the lifeboat scheme revealed that the funding it is seeking from mortgage advisers and lenders will remain unchanged on the previous financial period at £1m and £4m respectively. […]

Sesame adds tech tool to mortgage adviser arsenal

Sesame Bankhall Group’s Sesame Network will introduce a new digital portal for its mortgage advisers to provide access to customised legal services and improve the conveyancing process. The tool will be produced in partnership with Bristol-based panel manager Aventria and allows advisers to follow customers’ case processes with third party solicitors. Adviser referrals are allocated […]

Former RBS executive appointed FSCS chief exec

The Financial Services Compensation Scheme has announced former Royal Bank of Scotland executive Caroline Rainbird (pictured) will replace Mark Neale as its chief executive. Rainbird has held a variety of executive positions across regulatory, operational, investment and banking roles, including head of regulatory affairs with RBS between 2009 and 2017. She will assume the chief […]

Aberdeen Standard Investments teams up with Skipton for new fund range

Aberdeen Standard Investments has teamed up with Skipton Building Society to provide portfolio solutions for customers of its £4bn investment offering. The partnership will build on ASI’s existing £13.9bn MyFolio fund range, its multi-asset solutions for advisers, by adding five new index funds. Bambos Hambi and James Millard run the 19-strong multi-manager strategies team which […]

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FSCS: Recoveries totalling £300m have cut industry levy

The Financial Services Compensation Scheme has recovered just under £300m from failed financial services firms since 2014. The FSCS says the recovered funds have significantly reduced what advisers could have paid, despite the new £69m levy announced for this year last November. In January the FSCS confirmed that mortgage brokers would pay £4m for 2019/20. […]

Sesame Bankhall hires Experian’s Richard Howells as MD

Former Experian director of insurance Richard Howells has been appointed as managing director of Sesame Bankhall’s protection, mortgage and general insurance arm. Howells will assume the position with Sesame Network at the beginning of April. Prior to Experian, Howells spent seven years with Zurich in sales and is also the former chief executive of Berkeley […]

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FCA proposes second opportunity for rejected PPI claimants

The FCA has proposed firms should write to around 150,000 specific payment protection insurance complainants, previously rejected, saying they can make a new complaint about non-disclosure of commission. The complainants would have to make the most of this second opportunity before next year’s deadline of 29 August. In updated guidance issued today, the watchdog says it […]

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Search for new FSCS chief executive underway

The Financial Services Compensation Scheme has outlined a three-month plan to recruit a new chief executive officer to replace the outgoing head of the lifeboat fund Mark Neale. Neale has held the position at the top of the FSCS since 2010 and will leave to pursue “new challenges” next May when his current third three-year term ends. Recruitment […]

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FSCS chief executive Mark Neale steps down

Financial Services Compensation Scheme chief executive Mark Neale will depart his role in May next year. Neale has held the position since May 2010 and is leaving to pursue “new challenges” when his third three-year term ends. He says: “I haven’t taken this decision because of any diminished commitment to FSCS.  I still find every day […]