This week’s news... condensed

Ten of this week's best-read stories...

1. Keydata

Bad news for some Keydata IFAs after the FSCS said it might chase them to recoup compensation payouts. Meanwhile, Keydata founder Stewart Ford (pictured) won a High Court judgement against the FSA for its use of legally privileged material in its enforcement investigation.

2. FSA flights

Take a guess at how much FSA chairman Lord Turner has spent on flights in the past 15 months. Now double the figure and you have your answer.

3. Adviser charging

If you haven't started the transition to adviser charging yet, you might just be taking a "huge risk". That's according to Linda Woodall, head of the FSA's investments department. She is also going to take a closer look at firms' use of model portfolios.

4. Labour reshuffle

All change at the top of the Labour Party, with a cabinet reshuffle this week. Rachel Reeves ended her active spell as shadow pensions minister and was promoted to shadow chief secretary to the Treasury. Gregg McClymont stepped into her role.

5. Arch Cru

We apparently live in a ‘blame culture', so it was perhaps surprising to see the FSA believes no-one may be responsible for the losses incurred by Arch Cru investors.

6. Legacy business

Think you have a lot of legacy customers on your books to sift through? It's probably not as many as Bluefin Wealth Management, which has identified some 200,000.

7. Commission confusion

Thought RDR ended the whole commission debate? Think again. EU directive MiFiD II could "distort" the advice market, according to Treasury financial secretary Mark Hoban, as it is calling for a commission ban for IFAs only.

8. Proud and single?

We know the use of a single platform for all, or even most, clients may (we stress may) threaten the independence of an adviser. But could it also alienate customers?

9. All in the name

The Investment Management Association thinks the renaming of fund sectors from Aggressive, Balanced and Cautious to A, B and C will help consumers understand risk. Skandia disagrees.

10. Risky SIPP investments

There are plenty of investments which can go in a SIPP and Curtis Banks has come up with a list of risky types which might not be accepted. Clients interested in overseas farmland better have a good reason.