Regulation

The Financial Services Authority (FSA) has arested three individuals as part of an investigation into insider dealing.

The FSA is set to address concerns it will create an "unlevel playing field" by permitting trail commission to continue on fund switches within life policies set up pre-RDR, but not on other products.

The Association of British Insurers (ABI) has criticised the 'adversarial' remit of the industry's proposed new regulator, the Financial Conduct Authority (FCA).

The Financial Services Authority (FSA) has warned shareholders in industrial and provident societies about the suitability of their investments and the risks they face.

The Financial Services Compensation Scheme (FSCS) has informed Arch Cru investors that eligible claims for compensation "may exist" against some failed independent financial advisers (IFA).

The Treasury Select Committee (TSC) has said allowing the new regulator to publish early warning notices poses a risk to ‘natural justice' and urged the government to reconsider the issue.

MPs looking into the Arch Cru collapse have called for a "global meeting" of the parties involved after accepting there is now "no guarantee" of investors getting more than 70% of their assets back.

The FSA's acting enforcement head, Tracey McDermott, has said the financial services industry is failing to heed the lessons of previous failures and "has no-one but itself to blame" for low consumer confidence in the sector.

The government has once again rejected a call to arrange an independent inquiry into the collapse of the Arch Cru funds.

Keydata founder Steward Ford is seeking to ban FSA staff who saw protected attorney-client e-mails from being involved in an investigation into the company.