The Financial Services Authority (FSA) has told paraplanners they should challenge their financial advisers on suitability letters to help meet regulatory requirements and improve relationships with clients.

A financial adviser has been jailed for two years after swindling three women, including two elderly aunties, out of £312,000.

The Financial Services Bill has passed through to the House of Lords without any significant amendments affecting financial advisers, including the reintroduction of a long-stop.

The Financial Ombudsman Service (FOS) has warned that consumers are ignoring the risks around unregulated collective investment schemes (UCIS), even when they are spelled out by their advisers.

The Financial Services Consumer Panel (FSCP) has urged the Money Advice Service (MAS) to expand its offerings and ‘push regulatory boundaries' in order to help to close the advice gap.

The boss of a group of bio-fuel investment firms shut down by the Serious Fraud Office (SFO) has hit out at the administrators of the businesses for their conduct and activities.

A financial adviser who admitted to fraudulently gaining almost £250,000 from clients and an insurer, as well as perverting the course of justice, has been jailed for three-and-a half years.

The Upper Tribunal has upheld the Financial Services Authority's (FSA's) decision to ban and fine two former UBS advisers £1.3m in relation to an unauthorised trading scheme.

FIVE THINGS

The Association of Independent Financial Advisers (AIFA) and the Association of British Insurers (ABI) is to co-host a roundtable event looking at how upcoming regulatory changes will affect IFAs.