Legal & General (L&G) is anticipating a drop-off in sales through financial advisers over the coming months and into early 2013 as firms concentrate on developing their business models for Retail Distribution Review (RDR) implementation.
Professional indemnity insurance (PII) experts have questioned the FSA's view that its redress scheme for Arch Cru investors will have no impact upon the future availability of cover for IFAs.
A law firm has told Arch Cru investors it is unlikely they will end up receiving the entire £110m redress the Financial Services Authority (FSA) is expecting advisers to pay out.
Less than 2% of Arch Cru investors have so far taken a complaint about the advice they received to the Financial Ombudsman Service (FOS), it has been revealed.
The Financial Services Authority (FSA) has confirmed that the 30-month rule applies to most Retail Distribution Review (RDR) activities.
The Financial Services Authority (FSA) said it will be on the look-out for firms opting to close down their businesses to avoid paying into a redress scheme for Arch Cru investors.
A fraudster has been jailed for four and a half years for laundering funds in a £27.5m boiler room scheme.