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The FSA has extended its investigation into advisers who sold Arch Cru funds to include inherited or acquired clients.
The Financial Services Authority and Arch cru investors are caught in a 'Catch 22' deadlock over the release of information about Capita's role in the run up to the funds' suspension.
Financial advisers under FSA investigation are forced to undergo a police-style ‘interrogation’ at Canary Wharf and are threatened with losing their permissions if they refuse to answer all of the regulator’s questions, according to a solicitor close to the process.
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MP Mark Garnier has pledged to "pick up the baton and run with it" on the reintroduction of a 15 year long-stop for advisers, starting with lobbying the influential Treasury Select Committee (TSC) on which he sits.
The Treasury Select Committee (TSC) has written to FSA chairman Adair Turner asking him to make the findings of the investigation into bailed-out RBS public.
The FSA has been incredibly prolific and industrious recently with their thematic reviews and projects examining areas such as pension switching, structured products and platforms.
Developing a simplified advice scheme “as fast as possible” and regulating product design are among five recommendations the Financial Services Consumer Panel (FSCP) says would improve consumer confidence in the industry.
The Chancellor has stated there will be a review of the current exemption which exists in respect to employers promoting financial products to their employees.
The Treasury aims to cut back "disproportionate" requirements to report information to the Financial Services Authority (FSA) in its proposed amendments to the Financial Services and Markets Act 2000 (FSMA).
Proposals have been tabled by the Financial Services Authority to change or "streamline" the disputes-handling procedure for any complaints made against the regulatory body.
Financial promotion framework rules could soon require firms meet risk-based advertising regulations rather than the current sector-specific regime for product promotions, suggests the Treasury.
Corporate IFAs face further competition from other "professional firms" if the government decides to loosen Financial Services and Markets Act rules regulating occupational pensions trustees' investment activities.
The Treasury today asks whether people working in Citizens Advice Bureau or other "voluntary advice centres" should be exempt from rules regulating profit-making businesses in order to widen access to financial advice.
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