The Financial Services Authority has asked the High Court to make an "urgent" decision on whether a group of IFAs can judicially review the £54m Arch Cru investors payment scheme.

The draft Markets in Financial Instruments Directive II (MiFID II) published today limits the ban on receiving commission payments from product providers to independent financial advisers.

A large Manchester law firm is seeking to bring professional negligence claims against IFAs who invested clients in the Arch cru fund range, following Treasury Secretary Mark Hoban's refusal yesterday to launch a government inquiry into Capita's role....

Lifemark investors and the Financial Services Compensation Scheme (FSCS) will next month get to vote on whether to opt for a controlled liquidation of the troubled porfolio or plump for Keydata founder Stewart Ford's $150m rescue bid.

UK financial services would have more say over EU legislation if it said anything at all...

MPs today accused the Financial Services Authority (FSA) of failing in its duty to regulate Capita's management of the Arch cru fund range and of trying to cover up its failings by colluding with the company to force a £54m payment scheme on investors....

MPs from six political parties have this morning battered Capita with a tirade of attacks over its management of Arch cru investors' money, only to have their calls for a public inquiry into the debacle dismissed by Treasury secretary Mark Hoban.

An internal HMRC memo sent to a taxpayer in error has suggested the Revenue service is hiding mistakes and concealing vital information from the public.

The FSA could face legal action for breach of its own rules unless it lifts restrictions on Arch cru investors claims at the Financial Ombudsman Service and launches a public consultation into the amount of redress they should receive.

Skandia Investment Platform plans to review some of its investor communications after IFA concerns clients may mistakenly believe all of their transactions are checked by them.