This week's news... condensed

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

1. Financial Ombudsman

At last, the Financial Ombudsman Service has begun taking requests under the Freedom of Information Act. Advisers certainly have plenty of questions for them.

2. Sants sorry

Do you forgive Hector Sants? On Tuesday, the FSA boss apologised to MPs for his quick response to the Treasury select Committee's call for a 12 month delay to RDR implementation.

3. VAT clarity

Advisers have been waiting a while for HMRC to give some guidance on VAT and adviser charging, and it finally arrived this week. However, it is still just draft guidance...

4. Bank of England

The Bank of England hierarchy had a busy week, with governor Mervyn King insisting bad banks should be left to fold and deputy governor Charlie Bean revealing how close the Monetary Policy Committee came to raising interest rates earlier this year.

5. Keydata

It wouldn't be a normal week more developments in the Keydata saga. This time, AWD Chase de Vere defended itself after it became the latest IFA accused of giving negligent advice on Keydata products by lawyers acting for the Financial Services Compensation Scheme.

6. Keydata, part deux

As if that wasn't enough, it emerged the Financial Services Compensation Scheme may have to stump up $10m to allow a controlled liquidation of Lifemark after the main contender for a rescue of the fund pulled out.

7. Angry Tyrie

Should the Bank of England be allowed to keep minutes of meeting during the recent financial crisis secret? Treasury Select Committee chairman Andrew Tyrie thinks not, and he's been making plenty of noise about it.

8. Arch Cru tears

Whoever the blame lies with, some investors have seriously lost out following the collapse of the Arch Cru funds, and compensation deals on the table won't do much to ease the pain, set out vividly to IFAonline.

9. No more mis-selling?

Mis-selling on the scale of the recent payment protection insurance scandal will not be possible under the new regulatory system, according to Martin Wheatley, who will head up the Financial Conduct Authority. Remember those words.

10. Aviva 'cross-selling'

If there is one thing advisers hate, its provider going behind their back to approach clients with offers. Unfortunately, that's exactly what Aviva did, although the company is insisting it was all an honest mistake.