Justin Cash

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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 […]

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FCA to strengthen safeguards against ‘phoenixing’

The FCA has said it is taking a closer look at how it might be able to identify advice firms attempting to avoid their liabilities through so-called phoenixing. The practice has hit the headlines a number of times in recent years, where individuals or firms that see future complaints coming down the line decide to […]

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MPs probe banks’ treatment of vulnerable customers

MPs on the Treasury select committee are launching an enquiry into whether banks and other financial services firms treat vulnerable customers fairly. Financial exclusion and whether vulnerable clients could be charged too much for insurance are high up the MPs’ agenda. The committee will also assess the possibility of adopting a legal duty of care […]