Regulation

Conservative heavyweight David Davis MP has called on the Serious Fraud Office to investigate the Arch Cru collapse, according to reports.

The Financial Services Compensation Scheme (FSCS) has more than doubled the annual levy for financial advisers for 2012/13, largely as a result of known claims relating to Arch Cru and MF Global.

INVESTMENT

An FSCS Action Group petition, called Day of Action, campaigning on for a fairer Financial Services Compensation Scheme, received 1,421 signatures in total yesterday.

An FSCS Action Group petition, which is campaigning online for a fairer Financial Services Compensation Scheme, has already seen more than 1,000 signatures following its launch this morning.

The fear of another financial crisis will drive regulatory thinking for the next two decades as the philosophy of light-touch regulation disappears, according to Royal London Asset Management (RLAM).

The FSA is looking to add three more qualifications to its training and competence (TC) sourcebook.

The Financial Services Authority (FSA) is contacting more than 75,000 people warning them they are being targeted by financial conmen in what is the largest number of potential victims it has contacted in one go.

The FSA has cancelled the permissions of Equifund, citing lack of professional indemnity (PI) insurance and "significant failings" in the conduct of the broker's business.

The Legal Services Board (LSB) has released proposals which it says will deliver greater protection to consumers that are writing wills by ensuring everyone providing services in this area is regulated.