A sole trader independent financial adviser has been banned by the Financial Services Authority (FSA) and fined £10,500 for lacking competence and failing to treat his customers fairly.

The British economy's "capacity to absorb shocks" will help it to recover from recession and ensure it keeps its AAA credit rating, Standard & Poor's (S&P) said.

Meteor Asset Management has launched three structured kick-out plans.

FROM THE ED

Profits at wealth manager St James's Place (SJP) rose in the first six months of the year, helped in part by a record quarter for new business.

The Financial Services Authority (FSA) has cancelled an adviser's Part IV permissions for his failure to submit a Retail Mediation Activities Return (RMAR) for 2011.

The British Bankers Association (BBA) has come under fire from a former member of the LIBOR compilation team at Thomson Reuters, who claims the organisation was told on a weekly basis in 2008 that the rates were being distorted.

KICK OFF

The Association of Independent Financial Advisers (AIFA) will challenge a proposed 50% increase in the threshold for the investment intermediation class under the Financial Services Compensation Scheme (FSCS).

The Advertising Standards Authority (ASA) will not take action against National Savings & Investments (NS&I) over one of the Treasury-backed agency's radio advertisements, following a complaint from a listener.