This week’s news… condensed

The pick of this week's articles on IFAonline.co.uk...

Honister

Thinks had looked bad for a while but it was nevertheless a big blow for hundreds of advisers when Honister went into administration. Some thought the whole affair had been dealt with poorly.

No charge, no regulation

An interesting amendment to the Financial Services Bill was proposed by two Labour MPs which could lead to financial advisers not having to be regulated if they do not charge for their services

CIPs

The FSA issued its final guidance for firms using centralised investment proposition, and there was a third way proposed for advisers using DFMs.

Barclays mess

The Barclays LIBOR mess continued, with the bank's chairman resigning, then coming back, the chief executive leaving and politicians getting stuck in.

European commission

Europe pulled even further away from adopting RDR-style rules, with news that it was rethinking its plans on abolishing commission for some advisers.

Repeat offenders

Strong words from FSA chief Martin Wheatley, said the regulator would become tougher on repeat offenders.

Damaged FSA

No that it is about to be consigned to the scrap-heap, even the chairman of the FSA admitted it had a damaged reputation.

Money Advice Service

After months of pressure over both the performance of the his organisation and the size of his pay packet, there was little surprise when Tony Hobman announced his resignation from the Money Advice Service.

Simplified advice

Anyone out there who thought simplified advice was never going to take off may have been intrigued by what Martin Wheatley had to say this week.

Solicitor referrals

The Solicitors Regulation Authority began consulting on plans to allow referrals to restricted advisers, and SIFA suggested it had little choice but to do this.