Related topic: FCA

The regulator says the director sought to evade paying compensation due to customers as a result of his own bad advice.

The FCA says the legal action will delay payouts due to begin this year.

The review will look at the root causes of poor practices across the market.

Brokers are being urged to act now on later life lending rather than wait for FCA market study.

Lawrence was previously authorised to give mortgage advice but had his permissions revoked in 2008.

Insurance complaints rose 10.1% while the home finance sector saw a decline of 3.8%.

The FCA found Sapia did not put enough safeguards in place to protect client money.

Adviser numbers have remained broadly steady at around 31,000 since 2023, despite a 15% fall in the number of authorised advice firms since 2021.

Consumer Voice believes consumer redress has been minimised in order to protect lenders.

The plans will halve the SM&CR’s regulatory burden on firms.