FCA sharpens focus on adviser hospitality

What is worse: running a distribution warehouse in a sleepy part of the UK which is described as a Victorian workhouse, or bribing people to sell your products in two of the most important countries in the world?

The Financial Conduct Authority (FCA) is understood to be moving away from the idea of putting a cap on fund charges as part of its wider review into competition within the asset management sector.

What is wrong with pensions? Too complex, too expensive, deficits too wide, members don't save enough, too much regulation, too many unscrupulous employers, too many lazy members, too much interference from politicians.

After a summer which was surprisingly quiet by the standards of recent years, we may be at the point of significant change in the direction of markets.

Once again, Neil Woodford and his eponymous asset management business have stolen the headlines with news the firm is scrapping staff bonuses.

Still on a steep learning curve

The FCA's latest review is on so-called Retirement Outcomes, which is designed to see how the retirement income market is developing on the back of pension freedoms.

The term 'inducement' is being used as a substitute for the word 'bribe', and yet it seems unthinkable any adviser places business purely as a 'thank you' for a day at the cricket, writes Lawrence Gosling.

Priced in rate cut