The Month That Was – August 2021 – An FCA update – an update on Authorised Fund Managers
Welcome to Money Covered, a monthly podcast from RPC aimed at those dealing with complaints, claims and risk management in the financial services sector.
In episode 6, Ash Daniells is joined by Andrew Oberholzer and Sarah Dowding to discuss the key news and developments in the industry for the month of August. Andrew and Sarah provide listeners with a recap of the history of authorised fund managers and authorised corporate directors (including explaining the difference between the two), as well as discussing some well-known examples, and recent calls for reform.
Other topics covered include an update on the British Steel Pension saga; a busy month for the Court of Appeal after they upheld the FCA's findings in FCA v Avacade, as well as overturning the Upper Tribunal's decisions to confirm that two film schemes were trading with a view to a profit – rejecting claims they were tax avoidance schemes; and the Financial Ombudsman Service revealing plans on proposed changes to the time in which business have to respond to complaints – despite an increasing backlog of complaints.