The FSA has issued an 'emerging risk' warning on investment advice firms which it says may seek to maximise recurring income before the RDR deadline next year.

Clive Cowdery has promised to give 60% of the management profits from his life company consolidator business Resolution to a charitable foundation for the working poor.

The FSA is proposing to restrict when firms can impose a market value reduction (MVR) on with-profits funds, in a consultation aimed at tightening rules to better protect policyholders.

The FSA must close a ‘liquid­ation loophole' which many advisers use to shuffle the cost of complaints onto the industry-at-large via the FSCS, according to a claims management firm.

Barry O'Dwyer, Prudential UK deputy CEO, said he expects the post-RDR mass market advice gap to be filled by online personalised recommendations, like those used by web retailer Amazon.

Verena Ross, international director of the FSA, has been nominated by the 27 EU member states to be the first head of the European Securities and Markets Authority (ESMA).

Sterling rose against the dollar and the euro after monetary policy committee (MPC) minutes for February showed a more hawkish outlook than expected.

Monetary Policy Committee (MPC) hawk Andrew Sentance has upped to 0.5% the amount he believes interest rates should immediately rise.

Vanguard Asset Management has devised a guide to help investment advisers conquer post-RDR advice rules in just five steps.

London Capital Group (LCG) has delayed its 2010 results while it works out how much compensation it must pay investors who lost £7.7m in its managed spot FX fund.