Advisers will contribute £33m towards the total expected cost of running the Financial Services Compensation Scheme (FSCS) in 2012/13, although they will also pay an additional interim levy of at least £40m before April.
The financial services industry will pay an extra £40m toward the Money Advice Service (MAS) after it agreed to take on responsibility for coordinating and providing debt advice.
Advice firms will pay £38.4m towards funding the Financial Services Authority (FSA) in 2012/13, the regulator proposed today.
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Standard Life has successfully sued its professional indemnity insurers for around £100m to recover losses related to its Pension Sterling Fund.
The Financial Ombudsman Service (FOS) looks set to hold its ground on plans to include the names of businesses involved when it starts publishing final decisions.
The Financial Services Authority (FSA) has confirmed it will press ahead with the ban on commission, despite suggestions European Commission proposals could hamper, or even put an end to, its plans.
The Financial Services Authority (FSA) has appointed a former vice chairman of Lazard & Co as its investment banking sernior adviser.