Firms in the FSCS's investment intermediation sub-class are likely to have to pay an interim levy of £93m in just 30 days, to cover the cost of claims against investment firms including Keydata.

The FSA has assembled a small team to process warning ‘alerts' from firms about their individual advisers as it pushes ahead with its data and supervision plans.

An independent test to establish the knowledge gained by advisers carrying out qualifications gap-fill before 2013 has been ruled out by the FSA.

Firms will be obliged to inform the FSA if any of their advisers fall below its competence or ethical standards from July, as the regulator also confirms all retail investment intermediaries must carry a Statement of Professional Standing (SPS).

The absence of consumer complaints in the IFA sector does not necessarily point to competence or good quality advice, the FSA says.

Clarkson Hill Group, the financial adviser in administration following concerns over its capital position, has had its share trading on AIM cancelled after failing to re-appoint a nominated adviser (nomad).

Voyant UK has appointed Gary Shepherd as director of sales for Voyant Adviser technology solutions.

Unhelpful commentary and "assumptions" about the FSA's proposals for the mortgage market are proving a "distraction" and impeding the debate, the FSA says.

IFA support services provider SimplyBiz has extended a licence agreement with front-office tech supplier Distribution Technology (DT).

Two more senior figures are to leave insurance giant Aegon UK as the company continues a restructuring programme designed to cut operating costs by 25% by the end of the year.