Does Barclays' £7.7m fine spell trouble for the big boys?

Barclays tore up every TCF rule in the book to flog the two Aviva funds linked to today's record-breaking FSA fine. But shockingly, this is not an isolated case of negligent advice from major financial institutions and the big question is who will be next in the firing line?

Laura Miller
clock

Barclays tore up every TCF rule in the book to flog the two Aviva funds linked to today's record-breaking FSA fine.

But shockingly, this is not an isolated case of negligent advice from major financial institutions and the big question is who will be next in the firing line? We are inundated at IFAonline with advisers flagging up the poor advice their clients have received in the past from banks and advisers linked to other large financial institutions. They are highly critical that the FSA seems to target the small independent advisers with very low complaints records while the high street banks get off scott-free with mis-selling on a massive scale. All will be pleased Barclays must now face t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Cash ISA allowance cut risks hardening saver/investor divide, advisers warn

Cash ISA allowance cut risks hardening saver/investor divide, advisers warn

Govt policy shift reignites debate around role of cash ISAs

Sahar Nazir
clock 28 January 2026 • 5 min read
Depledge Strategic Wealth Management backs CISI financial planning push

Depledge Strategic Wealth Management backs CISI financial planning push

‘Financial planning is for every week’

Jenna Brown
clock 28 January 2026 • 2 min read
What a classic '80s movie tells us about today's language of financial advice

What a classic '80s movie tells us about today's language of financial advice

'Forty years is a long time in film. Even more so in financial services'

Roger Brosch
clock 27 January 2026 • 4 min read