Many third party administrators and distributors may not be adequately prepared for changes to the FCA rules on controlling clients assets, a firm has warned.
The Financial Conduct Authority has announced that debt management firm Harrington Brooks will voluntarily pay over £185,000 in compensation to over 4,500 customers after communications from the firm to creditors on customers' behalf were delayed.
One of the FCA's senior directors who is leaving as part of a shake up has said his exit is partly due to the criticism in a report about a bungled media briefing.
A review looking at the impact of the Retail Distribution Review has found financial advisers are offering investors an "increasingly professional service tailored to their individual needs".
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