Regulation

The Investment Management Association (IMA) has called on the Financial Services Authority (FSA) tighten up its definitions of banned 'toxic' products to avoid a catch-all situation with other similar investments.

The Investment Management Association (IMA) has written to HM Revenue & Customs (HMRC) to express its concerns over the "continued uncertainty" for companies trying to comply with the Foreign Account Tax Compliance Act (FATCA).

The Financial Services Consumer Panel (FSCP) has hit out at the Financial Services Authority (FSA) for a "record of procrastination", and has called on it to take immediate action against firms whose incentive schemes are to the "detriment of consumers"....

Victims of Bernard Madoff's Ponzi scheme are set to receive proceeds from a $210m settlement between a Bank of New York Mellon advisory firm subsidiary and US authorities, the New York attorney-general has said.

IFA network PI Financial is in the spotlight again over the mis-selling of unregulated collective investment schemes (UCIS), two months after being hit with a £58,000 fine by the regulator for giving unsuitable UCIS advice.

HM Revenue & Customs (HMRC) has set up a website to help people pay the correct amount in tax as part of its targeted campaign to stop criminal avoidance.

Lord Sassoon, the architect of the twin peaks regulatory reforms, has warned the outcome of the Financial Services Bill could still be watered down by political pressure.

About 500 investors are considering making mis-selling claims against their advisers for recommending unregulated collective investment schemes (UCIS) linked to the film industry over the past ten years, the FT reports.

The Financial Services Authority (FSA) has written to fund group chief executives outlining its concerns over conflicts of interest policies and is considering taking enforcement action after a review of industry practices.

HSBC is investigating allegations that criminals used offshore accounts at its Jersey business for money laundering and tax evasion, the BBC reports.