FCA bans SIPP firm partners: FCA has banned the two partners of 1 Stop Financial Services. The individuals had advised their client base to transfer to Self Invested Personal Pensions (SIPPs), which could have resulted in the customers buying unsuitable, risky investments. The customers often used the moneys to invest in items their previous plans would not have permitted. The firm has stopped trading and applied to cancel its permission. FCA would have fined the partners £490,000 but instead they have agreed to pay this money to the Financial Services Compensation Scheme (FSCS), which is investigating claims that the firm may not have been able to pay. The partners will also contact the customers to tell them about the FSCS investigation. (Source: FCA Bans SIPP Firm Partners)

FCA publishes consumer credit research: FCA has published an external report on consumers' attitudes toward and experience of payday lending, logbook loans and debt management services, with a focus on debt management plans and individual voluntary agreements. (Source: Consumer Credit Research

FCA updates on consumer credit authorisation: FCA has updated its website for firms needing authorisation for consumer credit regulated activities. It has also published a new form for firms applying for consumer credit activity permission alongside other regulated activities. (Source: FCA Updates on Consumer Credit Authorisation)

FCA updates on AIFMD applications:FCA has updated its website for firms applying for authorisation under the Alternative Investment Fund Managers Directive (AIFMD). The update focuses on applications during the rest of the transitional period. FCA highlights the obligations firms must comply with at the end of the transitional period and notes that MiFID firms applying for AIFMD licences will not be able to use their MiFID passport to provide services into other EU jurisdictions but must wait until they receive AIFMD authorisation, which will then include the ability to passport MiFID services. (Source: FCA Updates on AIFMD Applications

FCA plans listing changes: FCA plans to seek board approval for changes to the Listing Rules in respect of cancellation in early May and bring the changes into force in mid-May. (Source: FCA Plans Listing Changes)