Wealth manager Quilter has received permission from the FCA to offer Targeted Support to consumers just days after it was launched by the regulator.

Today sees the official launch of the Financial Conduct Authority’s new Targeted Support regime, enabling banks, pension providers and other financial firms that are authorised for Targeted Support to provide financial suggestions designed for groups of consumers.

Crowdfunding investment platform Shojin Financial Services Limited, which claimed to offer "next level property investment", has entered administration after funding projects worth £615m.

The FCA has today fined Dinosaur Merchant Bank Limited £338,000 for failings related to its handling of sophisticated CFD investments (contracts for difference).

London-based investment firm Equity for Growth (Securities) Limited (FRN475953) has gone into liquidation this week following an FCA petition to wind up the company.

Financial advice firms have welcomed the FCA’s proposal to remove the annual review requirement for advisers providing ongoing pensions and investment services.

The Financial Conduct Authority is consulting on removing the annual client review requirement for financial advisers who provide ongoing pensions and investment services.

The FCA has warned firms to get ready for new rules and guidance to help tackle non-financial misconduct (NFM), such as bullying or harassment in the workplace.

The FCA has published a number of guideline examples for financial firms designing the consumer segments for Targeted Support.

The FCA will publish proposals this week to simplify pension advice rules with the aim of expanding access for consumers while reducing complexity for firms.

Nearly half of IFAs (46%) believe that the introduction of Targeted Support from April will make consumers more likely to seek independent financial advice, according to a new poll from Opinium.

The FCA has amended its rules on cyber attacks to make existing incident and third party reporting clearer requirements, more consistent and easier for firms to follow.

The Financial Conduct Authority has extended the deadline for applications to its second cohort of AI live testing to 24 March.

Concept Capital Group, which is accused of running a £23m unauthorised collective investment scheme (UCIS), has gone into administration.

A trio have been sentenced for their involvement in an illegal sale-and-rent-back scheme targeting struggling homeowners.

The FCA is to encourage DC pension providers to offer targeted support to improve consumer decision-making ahead of the launch of Pensions Dashboards.

A Bucks financial adviser has had its Part 4A permissions to carry out regulated business revoked this week by the FCA. 

The FCA has approved the takeover of troubled Financial Planner and wealth manager WH Ireland by Jersey-based wealth manager Team plc.

Firms can now apply for permission to provide targeted support through the FCA’s new authorisation gateway, ahead of the new regime going live next month.