The Financial Conduct Authority has warned firms they should not be using company and insolvency law to minimise their liabilities. In proposed guidance, published today (25 January), the regulator said it had seen an increase in firms developing ‘Schemes of Arrangements', particularly when it comes to redress liabilities and that firms have requested a ‘letter of non-objection' in relation to these proposals. The regulator, however, said it "would be unlikely to ever issue" such a letter and believes firms should be providing the best possible outcome for customers, which would be "p...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes