Legal & Regulation

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PIMFA calls for new FCA Consumer Duty to be accompanied with clarity for firms

PIMFA calls for new FCA Consumer Duty to be accompanied with clarity for firms

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has welcomed the introduction of a new Consumer Duty by the Financial Conduct Authority (FCA) but says that the new duty must be accompanied with greater clarity over any new regulatory expectations placed on firms and a reasonable assessment of firms’ ability to discharge their obligations under the duty.

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PIMFA welcomes FCA plans to stop Claims Management Companies from 'Phoenixing'

PIMFA welcomes FCA plans to stop Claims Management Companies from 'Phoenixing'

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has welcomed proposals from the Financial Conduct Authority (FCA) that would ban claims management companies from managing Financial Services Compensation Scheme (FSCS) claims where they have a relevant connection to the claim; a practice known as 'phoenixing'.   

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PIMFA welcomes FCA proposals to enhance consumer protections but warns against unintended consequences

PIMFA welcomes FCA proposals to enhance consumer protections but warns against unintended consequences

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has given a cautious welcome to the Financial Conduct Authority's proposals to enhance consumer protections in the consumer investment market; yet it warns against unintended consequences.