Regulation

The government has proposed relaxing the tax rules on Property Authorised Investment Funds (PAIFs) and REITs in a move which may increase the number of funds in this space.

The Tax Incentivised Savings Association (TISA) has welcomed Treasury proposals which will give investors affected by the failure of financial firms the opportunity to use compensation to top up their ISAs beyond the current subscription limits.

The Financial Services Authority (FSA) has appointed the group finance director of Rathbones to a non-executive role on board of the Financial Services Compensation Scheme (FSCS).

The Financial Services Authority (FSA) today took action against two individuals suspected of providing financial advice when not authorised to do so and making misleading statements to investors.

The Financial Service Authority has appointed Sir Nicholas Montagu as chairman of the Financial Ombudsman Service to act as "customer-service champion".

Prime minister David Cameron will today be forced to answer calls for a government inquiry into the failure of Arch Cru and the fairness of the redress scheme set up to compensate investors.

The Treasury is preparing to water down a key recommendation in the Vickers report that would protect savers in the event of a bank going bust, according to reports.

Three men have been sentenced to nine years for a boiler-room investment fraud, the Serious Fraud Office has said, including one man who stole the identity of a registered financial adviser to commit the crime.

Our round-up of Tuesday's national newspaper headlines...

Red tape will cost the City up to £1.4bn a year from now on, according to Financial Services Authority figures.