Regional Financial Planner Cooper Parry Wealth has appointed David Kendrick as its new MD after current CEO Stephen Jones decided to retire after 20 years building the business.

The Financial Services Compensation Scheme has declared Sussex-based wealth manager and Financial Planner Facet Investment Management Ltd (FRN 131372) in default.

The Consumer Duty Alliance, the not-for-profit professional body supporting the FCA's Consumer Duty standards, has welcomed the Chancellor’s unexpected decision to order a review of some elements of the Duty.

Rising food and transport prices pushed up CPI inflation unexpectedly in June to 3.6%, from 3.4% in May.

The Financial Conduct Authority has fined Barclays Bank UK PLC and Barclays Bank PLC a total of £42m for major failings in their financial crime risk management including one relating to collapsed wealth manager WealthTek and one relating to Stunt & Co. 

Chancellor Rachel Reeves has said that the impact of the Consumer Duty, introduced by the FCA in 2023, is “under review.”

Chancellor Rachel Reeves has announced a raft of financial services reforms in her Mansion House speech this evening to boost economic growth and shake up the retail investment market.

The FCA and Financial Ombudsman Service are to ‘modernise the financial redress system’ to closer align their complaint processes.

The FCA and PRA have proposed changes to the Senior Manager Certification Regime (SMCR) ahead of expected legislative changes to the requirements.

The Government will continue to look into reforming ISAs to drive higher levels of investing in the economy, according to Chancellor Rachel Reeves.