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A $60bn hedge fund is among four bidders for the assets of life settlements fund ARM Asset Backed Securities.

CLAUSE

Stephen Hunt, founder of retirement specialist Rockingham Independent, owes the company almost £100,000, according to a report by liquidator Probitas.

Industry veteran Ken Davy has criticised the FSA for refusing to restructure the Retail Distribution Review (RDR) following the effects of the banking crisis.

The Association of Independent Financial Advisers (AIFA) has hit out at "spiralling" fee rises from the Financial Services Authority (FSA), Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS).

Advisers are "significantly undervaluing" the work they do for clients when working out their charging structures post-RDR, according to Prudential.

Network and support service provider Sesame Bankhall Group (SBG) has said a large number of its 2,800 member firms are considering a 'hybrid' practice - offering both independent and restricted advice.

AIFA policy director Chris Hannant has criticised 'free rider' advisers who back the trade body's efforts and benefit from its work, but don't want to pay for membership.