Justin Cash

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FCA launches guidance on vulnerable customers

The FCA has asked the industry for feedback on proposed new guidance for treating vulnerable customers fairly. The regulator has published a series of potential guidelines this morning, including on how firms can get to understand vulnerable clients’ needs, ensure staff have the right skills to deal with them, and what practical steps they can […]

Capital

Intrinsic rebrands to Quilter Financial Planning

Mortgage broker and IFA network Intrinsic has rebranded to Quilter Financial Planning. Appointed representative firms that form part of the network will still be able to keep their own branding, however. Old Mutual Wealth, Intrinsic’s former parent, was rebranded to Quilter in June 2018 after separating from Old Mutual Plc. The rebrand will also see […]

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Cook to retire from equity release lender Just

Chief executive of Just Group Rodney Cook has decided to step down from the role after nine years with the equity release and pension provider. Cook will stay with Just until June 30 to ensure transition, but plans to retire after that point. Both internal and external candidates will considered for the position as Just […]

SimplyBiz buys Defaqto for £74m

Support service provider SimplyBiz has begun to deploy some of the funds raised from its stock market float with a deal to buy ratings and technology business Defaqto. SimplyBiz will pay £74.3m to acquire the entire issued share capital of Regulus Topco Limited, Defaqto’s parent. On completion, Defaqto will have £3.4m in cash on its […]

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FCA re-files accounts after complaint about clarity

The FCA has re-filed its annual accounts after a complaint over their legibility, The Times reports. After a bricklayer, Clive May, based in Mold in Flintshire, raised concerns about how clear the accounts were to Companies House, the corporate registrar service invited the regulator to submit an update version of its accounts to March 31 2018. According […]

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Bank of England forecasts lowest growth for a decade

The Bank of England has blamed the “fog of Brexit” for putting the brakes on the economy as it forecasts growth for 2019 to be the slowest in a decade. The Bank revised down the 1.7 per cent growth forecast it made in November to 1.2 per cent, making this the slowest rate of expansion […]

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A third of UK firms consider Brexit relocation

Almost a third of UK firms have at least considered a move overseas in light of Brexit, according to a new survey by the Institute of Directors. The employers group says 18 per cent were either planning or actively considering moving activities overseas with 11 per cent – chiefly larger companies – having already done […]

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SimplyBiz signs deal with Taylor Wimpey

Adviser support service provider SimplyBiz has signed a deal with major house builder Taylor Wimpey to use its new software, Zest, to administer employee benefits. SimplyBiz acquired employee benefits firm Staffcare in 2013, relaunching its proposition as Zest with a new technology platform at the end of 2017. It has announced a major deal for the […]

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MPs eye post-Brexit ‘passporting’ outside EU

Financial services firms should be able to set up new “passporting” deals with countries outside the EU once they lose access to the single market, according to the head of an influential group of MPs. Treasury select committee chair Nicky Morgan tells the Financial Times that while “passporting” – mutual authorisation for regulatory activities across […]

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FCA to analyse impact of regulation on smaller brokers and lenders

The FCA has announced a project to better understand how its rules affect smaller firms, including mortgage advisers and lenders. The regulator published a note today informing firms that it would soon conduct a survey to specifically identify how FCA rules impact them, to “help ensure FCA cost benefit analyses and judgements of proportionality take […]