The FCA has proposed identifying firms at the outset of an investigation.

The partnership comes as the FCA continues its review of how firms approach and treat customers in vulnerable circumstances.

FCA is also consulting on extending the rules to portfolio managers.

The FCA said it has identified additional learning as a result of the complaints investigation.

Non-financial misconduct is still a major issue for financial services, the FCA director said.

Over 300,000 investors were affected by the equity fund’s collapse four years ago.

The regulator is incorporating aspects of its tailored support guidance (TSG) into its rulebook.

Minimum and flat rate fees are rising following a freeze last year.

The firm took £2.8m as deposits under loan agreements and/or as part of an unauthorised collective investment scheme.

The tool aims to help advisers fulfil the consumer understanding outcome of the FCA’s Consumer Duty.