Hope William-Smith

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FSCS targeted in phishing scam

The Financial Services Compensation Scheme has issued another warning over a series of emails sent to members of the public purporting to be official communication from the lifeboat fund. The FSCS first flagged its concerns on 4 February over emails from Paulo Gatti and AAA Trade asking people to register to claim monies owed. The lifeboat […]

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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 […]

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FCA ramps up hard Brexit strategy plans

The FCA has released two consultation papers with its proposals for a smooth transition from the European Union in the event of a hard Brexit. The papers focus on the temporary permissions regime, which allows for the continuation of European firms and funds passporting into the UK for a limited period after 29 March, and amendments to the FCA […]

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Former FCA advice director Linda Woodall passes away

FCA chief executive Andrew Bailey has offered his condolences on behalf of the regulator following the death of former advice and life insurance director, Linda Woodall. A point of contact is provided through the FCA website to remember Woodall (pictured), who passed away in September. She joined the FCA in 2001 and held various roles […]

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RBS considers rebrand following difficult decade

The Royal Bank of Scotland may look to rebrand after continued reputational damage stemming from a difficult decade since the Global Financial Crisis, according to the Times. RBS chair Howard Davies told the publication that the name of the bank is now under review as it looks to move focus to investing in its other brands […]

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SimplyBiz reports losses following IPO

SimplyBiz has reported a pre-tax loss of £1.2m for the six months to 30 June in its first set of financial results as a public company. In the same period the prior year, the business reported a £2.4m profit. The loss follows IPO costs of £3.6m after its float on the London Stock Exchange in April. However, […]

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Payday lender Wonga enters administration

Payday lender Wonga has put itself into administration after talks with the regulator failed to save the firm from the brink of collapse. Wonga raised £10m from shareholders four weeks ago but is still unable to meet outstanding compensation claims. A source told The Times yesterday that the FCA was in talks with Wonga, once […]

Beaufort Financial opens two new advice firms

Two new advice firms have been set up under partnership Beaufort Financial as it continues its UK expansion. The first firm will be based in the midlands, in Stanton on the Wolds and trade as Beaufort Financial (Nottingham). It will be headed up by former Mazars financial planning manager Gurmit Nahal. Beaufort tells Mortgage Strategy sister magazine Money […]

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Fairstone buys majority stake in Allensons Mortgage Advisers

Consolidator Fairstone has taken a majority stake in Wokingham-based Allensons Mortgage Advisers. Allensons is rebranding as Fairstone Mortgage Solutions as part of the purchase, which is Fairstone’s fifth since January and brings recurring revenues of £700,000 to the business. A total of 5,000 clients and 13 staff from Allensons have been acquired as part of […]