The long-running Arch cru saga has taken another twist following an inappropriate approach to redress payment by administrator Capita. It has written to a number of pension investors to ask them to return money paid from the Arch cru redress…read more
Lawyers to be banned from offering incentives to personal injury claimants
Legislation has been introduced to ban lawyers from offering incentives to personal injury claimants Gifts of iPads and upfront ‘welcome’ payments have been made by some law firms in exchange for pursuing personal injury claims with their firm. The move…read more
Research reveals increased insurance costs for one in three IFAs
Nearly one third of advisers have seen the cost of their PII insurance rise over the last year according to research from the Association of Professional Financial Advisers (APFA). Over half (52{0a6a65c996ed4169444354e707b897cdb00dbefc1d0429e8febb9bf11027ba53}) of IFAs have received an offer of the…read more
SRA plans for new solicitors’ PII rules to be in place by 1 October renewal
The Solicitors Regulation Authority (SRA) is planning new PII rules for the 1 October 2014 renewal. The new rules, which were approved by the SRA board on 2 July, will reduce the minimum level of cover to £500,000 from £2…read more
Architects liability limited in ‘net contribution clause’ appeal
Architects and their insurers will be pleased by a Court of Appeal decision which has supported a contractual defence to architects’ liability for damages. A recent appeal has confirmed that ‘net contribution clauses’ are effective in limiting architects’ liability to…read more
Valuation Surveyors need not recommend structural surveys say courts
Mortgage valuation reports have limitations and surveyors are not expected to identify defects which would be apparent from a structural survey the courts have decided in Hubbard v. Bank of Scotland. The decision is welcome news for surveyors who could…read more
Law firms that hide information from insurers could be struck off
The Solicitors Regulation Authority (SRA) is investigating more than 80 firms over professional indemnity insurance (PII) shortcomings. Twenty three are being probed for non-disclosure of information to PII insurers. They risk being struck off if they are found to have…read more
Advisers warned over unregulated SIPP advice
The Financial Conduct Authority (FCA) has uncovered further serious failings in Self Invested Personal Pension (SIPP) advice. Firms that advise clients to invest their pension in unregulated products through SIPPS have been warned to have a robust and compliant advisory…read more
FCA to consider a 15 year long stop on FOS cases
The Financial Conduct Authority (FCA) is to consider introducing a 15 year time limit on complaints to the Financial Ombudsman Service (FOS). At present complaints can be brought by consumers for an unlimited amount of time. The FCA’s business plan…read more
Professional conduct guidance for tax advisers issued
Leading professional bodies involved in taxation have issued a new guide on professional standards. ‘Professional Conduct in Relation to Taxation’ aims to help advisers deal with difficult practical situations. The guidance will help, for example, where there is an irregularity…read more
