The jobs of tens of thousands of financial intermediaries working across Europe would be at risk if the European Commission (EC) outlaws the payment of commission to advisers, a lobby group has said.

The Financial Services Authority (FSA) has fined Turkish Bank (UK) Ltd £294,000 for breaching the Money Laundering Regulations 2007 over a two-and-a-half year period.

A range of kitemarked simple products should be introduced to help restore consumer trust in the financial services industry, a Treasury-commissioned review has recommended.

The Serious Fraud Office (SFO) has pledged to continue its investigation into a property magnate linked to the collapse of Icelandic bank Kaupthing, despite a setback in the High Court related to search warrants it obtained as part of its inquiries.

PROTECTION WATCH

The Financial Services Authority (FSA) has laid bare some of the sales practices adopted by firms in the now-defunct sale and rent back (SRB) market, including evidence one firm charged clients up to £40,000 on single transactions.

The Financial Services Authority (FSA) has confirmed changes to rules relating to mortality projections in pension key facts illustrations (KFIs).

MOVERS & SHAKERS

Financial advisers working in banks will have a tougher time than IFAs persuading clients to part with a fee for their services, research suggests.

Friends Life has introduced fee facilitation options across a number of product ranges ahead of the implementation of new remuneration rules brought about by the Retail Distribution Review (RDR).