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US Newspapers Diluting Democratic Discourse with Political Bias

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US Newspapers Diluting Democratic Discourse with Political Bias

 By Mischa Geracoulis and Heidi Boghosian

On September 21, 1970, the New York Times ran its first “op-ed” page. Short for “opposite the editorial,” this new feature provided space for writers with no relationship to the newspaper’s editorial board to express their views. Before long, other newspapers followed suit. More than fifty years later, in order to compete with electronic media news, traditional newspapers have come to utilize opinion pages as a means to attract and keep readers.

Newspaper editors understood the power of opinion pieces as early as 1921 when editor Herbert Bayard Swope of the Pulitzer Prize-winning New York World said: “Nothing is more interesting than opinion when opinion is interesting, so I devised a method of cleaning off the page opposite the editorial… and thereon I decided to print opinions, ignoring facts.”

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The pioneering opinion pieces Swope published were written by newspaper staff; and, while he may have ignored some facts in the opinions he published, contemporary newspapers claim to aspire to journalistic integrity. In its op-ed guidelines, the Washington Post, for example, notes that all op-eds are fact-checked. Post guidelines explain that authors with “important titles,” like “senators, business leaders, heads of state,” are held “to a particularly high standard when considering whether to publish them in The Post.”

As competition for the public’s attention stiffens in a social media and online communications-saturated environment, it’s perhaps not surprising that conflicts of interest arise in the op-ed pages. In 2011, more than 50 journalists and academics urged greater transparency about conflicts of interest among New York Times op-ed page contributors. In an October 6, 2011, letter to Arthur Brisbane, the Times’s public editor, they criticized the practice of “special interests surreptitiously funding ‘experts’ to push industry talking points in the nation’s major media outlets,” absent reporting of those writers’ vested interests.

In their letter to the Times, the signatories called out the unreported bias of Manhattan Institute senior fellow Robert Bryce. The Institute received millions of dollars in funding from the fossil fuel industry. Bryce’s promotion of fossil fuels rather than renewable energy, they wrote, flew in the face of his “masquerading as an unbiased expert.”

Corporate media consolidation has strategically limited the diversity of perspectives and the quality of journalism and unduly influenced audience opinion. With a handful of large corporations controlling a majority of media outlets, content homogenization and profit prioritization often replace journalistic integrity. For instance, the acquisition of hundreds of weekly and daily newspapers by conglomerates like Gannett has led to a reduction in independent voices, an increase in editorial uniformity, biased editorials and op-eds, and news deserts.

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The Sinclair Broadcast Group’s ownership of approximately 200 television stations has been criticized for mandating the airing of politically slanted content, including editorials and op-eds, across its network. This centralized control over broadcasting allows for the dissemination of partisan perspectives, undermining public access to balanced, impartial news coverage. Instead, viewers are fed one-sided opinions aligned with corporate agendas, rather than presented with a diverse array of viewpoints. 

Editorials and op-eds can and often do have a greater influence on public consciousness than news articles. In best-case scenarios, they express a broad spectrum of opinions, provide in-depth analysis, advocate for specific viewpoints, and connect with audiences through emotion and ethos. Publications adhering to journalistic ethics feature opinions written in the public’s best interest and offer a range of well-reasoned perspectives that enhance good-faith debate.

Because the importance of an issue is often equated with the type and amount of media coverage it gets, high-profile publishers bear a greater responsibility in curating opinion pieces. When premier newspapers publish op-eds that are irresponsibly written—whether echoing government propaganda and political biases or corporate interests, lacking fundamental facts or historical context, or wielding accusatory or derogatory language and sensationalized headlines—they “signal boost” for a particular viewpoint or agenda. 

This type of writing is irresponsible and counter-democratic for several reasons. Many news consumers skim headlines, only reading articles with gripping titles and subtitles. Reckless opining is equally irresponsible because many Americans have difficulty distinguishing fact from opinion. News consumers do not always make the necessary distinction between what’s published in the “news” section versus “opinion,” according to Marist College journalism professor Kevin M. Lerner.

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When established reporters and purported experts voice their views as authoritative, their opinions are often perceived as news rather than opinion. Readers give them greater weight because of their credentials. Editors thus bear a greater responsibility to ensure that their opinion pieces adhere to the highest standards of journalistic ethics. Failure to do so can amount to a form of reader manipulation. Such lapses not only compromise journalistic credibility but do a disservice to the public and the democratic process.

Daniel Macy, senior associate in the Office of the Public Editor at PBS, wrote a defense of news editorial decisions. Too often, he complained, news audiences incorrectly believe that the media shape the news agenda. Macy claimed that the news media merely mirror the agenda. If audiences believe there’s bias, he continued, that’s due to the ever-present prioritizing system that each news consumer keeps in their head. At the end of the day, he affirmed, the editor decides what makes the news. “That sounds a little bit agenda-setting, but it’s not.”

Macy’s denial notwithstanding, establishment media has an agenda-setting function, and editorial decisions factor into the formation of public opinion and individuals’ voting decisions. Although the media cannot necessarily tell audiences what to think, they certainly have the power to inform what and who audiences think about. Take the 2024 report by Fairness and Accuracy in Reporting (FAIR) that investigated biased articles on economic topics, such as inflation, recession, and government debt and spending.

Searches of the 2023 New York Times and Washington Post archives revealed excessive prognosticating about a recession that never materialized and simultaneously correlated this to companies’ unjustifiably inflating prices. This sort of signal-boosting whipped up “fears of recession, a fantasy problem,” and directed attention away from the facts. In March 2024, writing on the strength of the US economy, Louis Jacobson explored why so many Americans believe otherwise. The self-reinforcing doom loops of media coverage and partisan biases” are at least partly, if not wholly, to blame, he wrote.

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Opinion pieces that serve corporate or political agendas exemplify irresponsible editorializing. Editors owe a duty to the public to avoid hyperbolic opinion writing and “doom looping” that advance the interests of a privileged few. Too often, however, the aims of consolidated, corporatized media, owned and operated by megarich individuals, supersede Fourth Estate journalistic ethics and democratic duties. Manufacturing Consent (1988), the seminal work of Edward Herman and Noam Chomsky, shattered the illusion that the establishment media serve as a reliable check on power. Rather, media empires prop up the status quo and repeatedly display an unwillingness to challenge the power structures from which they profit.

Case in Point: Genocide Perpetrators Portrayed as Victims

A brief survey of opinion pieces related to 2023 headline news stories illustrates how unenforced editorial standards turned op-eds into forms of political propaganda. In the case of Israel’s genocidal acts against Palestinians in 2023 to 2024, editorials and op-eds in US newspapers largely portrayed Israel as a victim, despite overwhelming evidence to support South Africa’s charge in the International Court of Justice that Israel is committing genocide in Gaza.

The Intercept published an analysis of media coverage during the first six weeks of the Israeli assault on Gaza, which helps to quantify the misuse of op-eds. The open-source inquiry into more than 1,000 articles revealed coverage that regularly favored the Israeli narrative. Consistent bias against Palestinians in the New York Times, Washington Post, and Los Angeles Times disproportionately described Israeli losses in emotional, humanizing language.

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By contrast, Palestinian deaths were downplayed, as were the devastating impacts of the unprecedented bombing campaign in the Gaza Strip. The killing of journalists and children was similarly minimized. Harking back to Manufacturing Consent, Herman and Chomsky demonstrated the notion of “worthy and unworthy victims.” Victims of enemies of the United States and its client states are “worthy victims.” Correspondingly, in MintPress News (February 27, 2024) Alan Macleod wrote that deaths will only be covered extensively and compassionately in the establishment press if there’s political and economic capital to be gained.

The Intercept’s analysis detailed asymmetrical reporting on acts of antisemitism versus anti-Arab and anti-Muslim actions, and concluded that “[a]nalysis of both print media and cable news make[s] clear that, if any cohort of media consumers is getting a slanted picture, it’s those who get their news from established mass media in the U.S.”  

In February 2024, Fairness and Accuracy in Reporting released the results of its analysis of opinion pieces in the New York Times and Washington Post that mentioned Israel or Gaza, as published from October 7 to December 6, 2023. FAIR determined that, although both papers included a few strong pro-Palestinian voices, opinions weighed heavily toward Israeli interests.

That was largely due to reliance on regular columnists sympathetic to Israel. Guest opinion editorials in both papers primarily featured the same old government officials (domestic and foreign, past and present) and attendant think tank experts uncritical of Israel. 

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To give an example of  “op-ed abuse” that advantages US pro-war policies, a study by the Quincy Institute found that the majority of think tank experts featured in the establishment press supportive of Ukraine were paid by the US Department of Defense. Conflating national and international security issues with a feigned need for expert opinion is nothing new—newspapers of record have a track record of employing op-eds to justify war.

Caitlin Johnstone has written that “a jarring number of media executives and influential journalists” belong to the Council on Foreign Relations. The Washington Post’s former managing editor, Richard Harwood, reportedly commented that media involvement in the Council aids the United States in formulating and promoting its policies and positions.

Indeed, who does the reporting and opining is as instrumental to a story as its subject and how a story is told, as media analyst Sana Saeed of Al-Jazeera+ has analyzed. Time and again, western establishment news media showcase Israeli government and military officials and “authoritative voices” sympathetic to Israeli and US policies to comment on the conflict. To state the obvious, stenography—that is, uncritically quoting think tank executives and government bureaucrats—is not journalism. Nor does it carry weight in constructive opinion writing unless, perhaps, it’s contextualized to validate an argument.

Modern Media’s Duty to the Public

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Traditional media have long served as sources for citizens to learn about their political leaders, policies, and government. Citizens should be able to trust their nation’s premier newspapers to maintain professed standards of professional ethics and to offer a plurality of newsworthy viewpoints. 

Biased reporting is a breach of journalistic ethics. The preamble to the Society for Professional Journalists’ Code of Ethics, widely considered the gold standard of ethical journalism, states the belief “that public enlightenment is the forerunner of justice and the foundation of democracy,” and appeals to the integrity of every journalist, beginning with guidelines for seeking and reporting truth. A breach of ethics interferes with the public’s right to, and need for, accurate information. 

Biased and propagandized publications may be thought of as a human rights issue too. According to Article 19 of the UN Universal Declaration of Human Rights, “Everyone has the right to freedom of opinion and expression, which includes the freedom to hold opinions without interference, and to seek and receive…information…through any media regardless of frontiers.” Thinking in those terms, reporting that’s biased, lacks transparency, or presents decontextualized information impedes Article 19’s contention that information seekers have the right to obtain facts and bias-free information.

Even in the digital age, America’s legacy media bear a consequential responsibility to the public. At a time when democracy is under strain, opinion pieces in our premier newspapers run the risk of abusing their status to steer public debate against the public welfare—especially when written by influential individuals with vested conflicts of interest. Considering the blurred lines between legacy media and social media and between news and opinion, editorial decisions do more than undermine the role and reputation of journalism in a democracy; they jeopardize democracy itself.

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Heidi Boghosian is an attorney and is the executive director of the A.J. Muste Foundation for Peace and Justice. Previously she was the executive director of the National Lawyers Guild. She wrote I Have Nothing to Hide and 20 Other Myths About Surveillance and Privacy (2021), and co-hosts the weekly civil liberties show Law and Disorder on Pacifica Radio’s WBAI in New York and broadcast on more than 120 stations.

Mischa Geracoulis is Project Censored’s Curriculum Development Coordinator, a member of its international panel of judges, and on the editorial teams of the Censored Press and The Markaz  Review. Her previous Dispatches have addressed issues including the crisis of local news, the corrosive impact of dark money on US politics, and the early history of the Associated Press.

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Travel

‘Secret’ UK island forgotten by tourists you can visit certain days of the year – with one small bar and rare wildlife

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Steep Holm is in the Bristol Channel and is often unheard of because of its remote location

A SMALL island in Somerset is often described as secret because of its isolated location.

Steep Holm in the Bristol Channel, five miles offshore from popular seaside town Weston-super-Mare, is often unheard of because of its remote setting and being difficult to reach.

Steep Holm is in the Bristol Channel and is often unheard of because of its remote location

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Steep Holm is in the Bristol Channel and is often unheard of because of its remote locationCredit: Alamy
Rare plants and wildlife call Steep Holm home with herring gulls and lesser black-backed gulls seen nesting

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Rare plants and wildlife call Steep Holm home with herring gulls and lesser black-backed gulls seen nestingCredit: Alamy

The island is run by Kenneth Allsop Memorial Trust, and except for wardens who help maintain it, it’s uninhabited.

Strong tidal currents also make the island a difficult place to land.

But during certain times of year, organised trips by Bay Island Voyages allow visitors to discover what Steep Holm has to offer.

Trips are run on certain days of the year from the end of March through to October.

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Because Steep Holm is only accessible at high tide, day trips there last 12 hours. 

As a protected nature reserve and Site of Special Scientific Interest (SSSI), the island is a haven for rare plants and wildlife.

Steep Holm is the only place in the UK where wild peonies grow, and the island is home to rare plants like Alexanders, golden samphire, and wild leeks.

European herring gulls and lesser black-backed gulls can often be seen nesting, and a small population of muntjac deer have also been spotted.

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The island also has a rich history, with evidence of occupation dating back to prehistoric times. 

The Romans built a signal station on the island, and it was fortified in the 1860s as part of the Palmerston Forts – constructed to encircle Plymouth and to protect the Royal Dockyard against a landing by the French.

Isolated island where humans are BANNED – but is home to thousands of inbreeding snakes with flesh-eating venom

There are also Victorian military installations, including underground ammunition stores

On a clear day, visitors can enjoy excellent 360 degree views of the Bristol Channel and the Somerset and Welsh coastlines.

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As far as facilities go, The Visitor Centre housed in the Victorian barracks is visitors’ base for the day.

Items you don’t need to explore the island can be safely left there.

There’s also hot and cold drinks, home-made cakes, confectionery and crisps available there, as well as a selection of beers, wines and cider at the licensed bar.

Toilets have water provided by the underground reservoir, but as the water is pumped by a generator, it’s not suitable for drinking.

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Fresh water is brought to the island for drinking from the barracks cafe, otherwise visitors need to bring their own water flask.

Sailings to Steep Holm can be cancelled at short notice because of the weather, even if it’s a nice day on the mainland, so back up plans are advised.

The cost per person to visit is £47.70.

Other secret islands in the UK

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Northey Island – A remote island in Essex that’s owned by the National Trust and considered to be “the closest you’ll get to true wilderness in Essex”. Visitors need to arrange a permit and can’t cross over to the island at high tide.

Foulness Island – A secretive island that’s used by the Ministry of Defence for weapons testing. The only way for the public to reach the island is via the Broomway.

Lundy – A secluded island in Devon that dates back to the Neolithic period. In 1160, King Henry II granted the land to the Knights Templar. 

Holy Island – Also known as Lindisfarne, this island is home to Lindisfarne Castle and Lindisfarne Priory, which was once a centre of early Christianity in Anglo-Saxon England. 

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Another tiny island in the UK has been dubbed a “hidden treasure”.

And we’ve rounded up five islands off the coast of the country where you don’t need your passport.

Boat trips to Steep Holm are organised by the trust who runs the island

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Boat trips to Steep Holm are organised by the trust who runs the islandCredit: Alamy

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Belgian PM criticises Pope over cover-up of past sex abuse scandals

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Belgian prime minister Alexander De Croo has castigated Pope Francis over the “painful wounds” left by past sex abuse cases in Belgium that were covered up by the Catholic church.

De Croo said on Friday as he received the Pope in Brussels that the church had “its place in our history and customs”, but added that “we cannot ignore the painful wounds that exist within the Catholic faith community and wider society”.

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“The many cases of sexual abuse and forced adoptions have severely damaged trust. You are committed to justice. But there is still a long way to go.”

The speech was one of the most direct public condemnations of the Catholic Church’s evasion over sex abuse scandals during a papal visit.

Details of long-running abuse in the Belgian Catholic Church, including by the country’s longest-serving bishop Roger Vangheluwe, have slowly emerged over the past quarter century.

Vangheluwe, the bishop of Bruges between 1984 and 2010, resigned following sexual abuse allegations he partly admitted to. He said in a later interview that he did not believe it was abuse. He was stripped of his clerical status this year and now lives in seclusion in an abbey in the Loire.

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The scandals were documented in a four-part series called Godvergeten, which translates as Godforsaken, on Belgian broadcaster VRT last year. They have caused a drop in church attendance among Belgian Catholics, with some renouncing their baptism and ties with the church.

De Croo’s remarks, made at a welcome reception for Pope Francis at the Belgian royal palace of Laeken, were echoed by Belgian King Philippe, who said: “It has taken far too long for [the victims’] cries to be heard and acknowledged. It has taken far too long to begin looking for ways to ‘repair’ the irreparable.”

Acknowledging the comments of the two Belgian leaders, the Pope said the church was acting “firmly and decisively”, introducing prevention programmes and counselling victims in the aftermath of the abuse.

He also departed from his written speech to add that the church “must be ashamed” and “ask for forgiveness”.

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The pope, who also visited Luxembourg this week, was due to meet 15 victims of the Belgian sexual abuse scandals on Friday afternoon.

“We are co-operating fully. What the prime minister says is also of our concern,” said Geert De Kerpel, spokesperson for Belgian archbishop Luc Terlinden. “It’s never enough, but we do all we can.”

“The Belgian church is a church that fights strongly against this abuse,” he added. “There is not place for sexual abuse in the church.”

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Money Marketing Weekly Wrap-Up – 23 Sept to 27 Sept

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Money Marketing Weekly Wrap-Up – 23 Sept to 27 Sept

Money Marketing’s Weekly Must-Reads: Top 10 Stories

Stay informed with our curated list of this week’s top 10 financial news stories, including Scottish Widows’ senior investment team appointments and a protest by victims outside the FCA headquarters.



Scottish Widows announces senior appointments to its investment team

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Scottish Widows has announced four senior appointments to its investment leadership team. Matt Brennan will join in November as head of asset allocation and research, while Heather Coulson, Mithesh Varsani and Mark Gillan will take on key roles in January 2025.

Coulson will lead implementation and portfolio management, Varsani will head investment solutionsvand Gillan will oversee operations.

Scottish Widows’ chief investment officer, Kevin Doran, highlighted the appointments as crucial for enhancing their ability to manage over £200bn in customer assets.

Victims to stage protest outside FCA’s headquarters

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Victims of financial misconduct and regulatory failures staged a protest on 26 September outside the Financial Conduct Authority (FCA) headquarters in London.

Organised by the Transparency Task Force, the “Rally for Better Financial Regulation” highlighted concerns about the FCA’s lack of accountability and transparency. Protesters called for reforms, including improved governance, a civil duty of care and the right to compensation for regulatory failures.

The rally coincided with the FCA’s Annual Public Meeting, where the regulator faced criticism over unresolved financial scandals.

FCA clears chair of whistleblowing misconduct following internal review

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The FCA cleared its chair, Ashley Alder, of whistleblowing misconduct following an internal review.

Alder had faced criticism for revealing a whistleblower’s identity in emails to colleagues, breaching FCA policy. The whistleblower expressed outrage, calling it an “institutional betrayal.” The review, led by FCA director Richard Lloyd, acknowledged Alder did not fully follow protocol but acted reasonably by consulting senior staff.

Alder welcomed the findings, stating he aimed to address complex concerns raised by former employees appropriately.

Surge in people accessing pensions without advice

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The number of pension plans accessed for the first time surged by 19.7% in 2023/24, reaching 885,455, according to FCA data.

However, only 30% of these were accessed with regulated advice, down from 32.9% the previous year. This decline raises concerns about people managing pension withdrawals without professional guidance, potentially affecting their long-term financial stability. Economic pressures, including the cost-of-living crisis, are driving more people to access their pensions.

The FCA and government aim to improve the pensions system through ongoing reviews and reforms.

Premier Miton hires ex-Quilter director as COO

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Premier Miton has appointed Nicola Stronach as its new chief operating officer (COO). Stronach will oversee risk, operations, compliance, legal teams and regulatory relations.

She brings over 25 years of experience, having previously worked at Quilter, Credit Suisse, Old Mutual Global Investors and BNY Mellon. Stronach will play a key role in Premier Miton’s strategic direction, supporting UK distribution and international growth.

Premier Miton CEO Mike O’Shea praised her expertise, while Stronach expressed excitement about joining the firm during this pivotal period of expansion.

Annuity comparison quotes hit new highs in 2024

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In 2024, annuity demand hit record highs, with iPipeline reporting a 12% rise in annuity quotes during the first half of the year compared to 2023.

This follows a 60% year-on-year increase in 2023, with iPipeline’s platform now handling 25% of UK retirement market quotes. The surge reflects the growing importance of annuities in retirement planning, particularly amid higher interest rates.

Experts predict continued growth, especially for retirees seeking secure income, though interest-rate fluctuations and market volatility may affect future demand.

As government plans Budget tax raids, remember AIM is more than just an IHT play

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Labour’s potential removal of inheritance tax (IHT) relief on AIM shares could raise £1.1bn this year, but it risks harming UK small and medium-sized companies that drive growth and innovation.

AIM has contributed over £135bn to the UK economy in 29 years, with notable companies like Jet2 and YouGov starting there. Removing IHT benefits may lead to declining share prices, hurting businesses and investors.

While AIM remains a strong long-term investment, careful planning is needed to mitigate potential tax impacts.

Firms need help to better identify vulnerable customers

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Research by the Chartered Insurance Institute (CII) reveals many firms need help identifying vulnerable customers and complying with the FCA’s Consumer Duty reporting requirements.

The study, conducted with FWD Research, found that firms seek more guidance on vulnerability and reporting processes. The CII’s white paper offers recommendations, including integrating data into service improvements, fostering leadership interest in customer needs and enhancing understanding of vulnerability.

The CII aims to support firms in meeting regulatory standards and improving customer care.

Regulator keeps up momentum on ongoing advice services

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The FCA is actively investigating ongoing advice services in financial firms. In February, the regulator contacted 20 major firms to express concerns over clients being charged for services after advice is provided.

FCA executive director Sarah Pritchard indicated that follow-up work is ongoing, but a timeline for conclusions remains unclear. Both St James’s Place and Quilter have reported setting aside funds for potential client refunds and remedial costs linked to these ongoing service evaluations.

The FCA will communicate its expectations once the review is complete.

Transact adopts electronic Cash Isa transfer service

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Transact has become the first intermediary platform to implement an electronic Cash ISA transfer service through Pay.UK (BACS) and Equisoft, streamlining the transfer process.

This new service allows for seamless communication between Transact, banks and building societies, eliminating the need for paper transfers and reducing average transfer times from 42 days to just nine. With 72 banks and building societies adopting this service, it is expected to significantly enhance efficiency.

Transact aims to improve transfers further as investments in Cash ISAs surged by 50% last tax year.

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Solar-Powered Car Hits Auction After Company Collapse, Selling for 88% Off

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Solar-Powered Car Hits Auction After Company Collapse, Selling for 88% Off

The vehicle now on auction—car number 0001—is listed on a Dutch auction site, with bids currently around 17,000 euros (approximately $18,967).

That’s a huge drop from the car’s initial price tag.

However, there’s a catch: the car is neither type-approved nor equipped with number plates, meaning it’s not road-legal.

The auction ends on Monday, September 30, leaving potential buyers with just a few days to snag this unique vehicle. But with Lightyear going bankrupt in early 2023, buyers will need to consider that no company support is available.

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Lightyear had garnered a lot of attention in the automotive world with its bold promises of solar-powered cars. Just two weeks before their bankruptcy, the company unveiled a cheaper alternative, the ‘Lightyear 2,’ at CES in Las Vegas. Sadly, the company never managed to get their vehicles into full production.

The Lightyear Zero—previously called One during development—was powered by a 170-horsepower electric motor. Theoretically, it could go from 0 to 100 km/h in 10 seconds and reach a top speed of 160 km/h, though its true performance remains untested in the real world.

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FT Weekend Magazine Crossword Number 710

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FT.com also brings you the crossword from Monday to Saturday as well as the Weekend FT Polymath. ft.com/crossword

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Interactive crosswords on the FT app

Subscribers can now solve the FT’s Daily Cryptic, Polymath and FT Weekend crosswords on the iOS and Android apps

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FCA reiterates intention to increase transparency

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Advisers tweak processes in light of retirement income review

The Financial Conduct Authority has said it will increase transparency on its enforcement work to build public confidence and “help consumers understand its actions”.

Speaking during a press conference following its annual public meeting yesterday (26 September), joint executive director of enforcement and market oversight Therese Chambers said: “Currently, we offer very little transparency in our enforcement work.

“If you attended the entire public meeting earlier, you may recall someone asking me about two firms.

“I was able to discuss one of them regarding our investigation, but I couldn’t confirm or deny whether the other firm was under investigation. Both cases involved consumer harm and concern.

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“This highlights why we believe increasing transparency would help consumers understand the regulator’s actions.

“It would also build public confidence in our markets, as strong regulatory systems foster trust, which benefits investors, consumers and institutions. Effective enforcement is essential for maintaining high regulatory standards.”

At the conclusion of the regulator’s annual public meeting yesterday, victims of financial services misconduct and regulatory failure staged a protest.

‘The Rally for Better Financial Regulation’ protest was organised by campaign group Transparency Task Force and sought to highlight consumers’ concerns about “a lack of proactivity, transparency and accountability”.

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In a speech earlier this week, Chambers said the FCA is accelerating its investigations and adopting a “laser focus” on cases it pursues.

This, she said, has been “widely welcomed”.

“But the lightning rod has clearly been proposals for greater transparency on who we are investigating and why,” she added.

“While consumer groups, whistleblowers and some other regulators welcomed the prospect of greater transparency, the companies we regulate were overwhelmingly against.”

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During the press conference, she said the regulator is considering relaxing restrictions on what it can disclose about its enforcement action “slightly”. “Not a drastic change, but a measured increase in transparency.”

She added that the proposal has generated “strong feedback”.

“We have reviewed over 130 written responses to our consultation paper, and it’s clear there are genuine concerns,” she said. “We need to continue refining our proposals and engage with stakeholders further.

“The main question is: how will this work in practice? That’s what our next round of engagement will focus on—understanding the practical implications if we choose to proceed with these changes.”

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