Regulation

An irate adviser has said the latest FSCS interim levy is tantamount to mafia-style "extortion" and thinks clients - not advisers - should pay for firms' failures through an investment warranty.

More than 20 dawn raids were carried out by the Financial Services Authority last year as the watchdog continued its use of visible enforcement, a law firm says.

The Association of British Insurers (ABI) has said the Financial Services Authority's (FSA) stance on simplified advice means members are unlikely to develop propositions in the area.

COMPLAINTS

The FSA's director of supervision at its conduct business unit, Clive Adamson, told an investor in the Arch cru funds that complaining to their IFA was the "best course of action" in order to get some form of redress, as the scandal broke in 2009.

IN MEMORY

MEGAFINE

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

GRIPES

Claims management firms are being investigated by the Ministry of Justice after a surge in bogus compensation claims filed for consumers who were mis-sold personal protection insurance (PPI).