Regulation

The Financial Services Authority (FSA) has fired a warning shot at firms who have yet to begin transitioning to adviser charging, branding them a "big concern".

The FSA is under pressure from advisers to explain how they can become better qualified to recommend unregulated collective investment schemes (UCIS), and avoid falling foul of the regulator's rules on their use.

About 4,000 people are planning a mass demonstration outside the London Stock Exchange to protest against "financial injustices", in a move to expand the Occupy Wall Street demonstrations that began in New York.

The head of HM Revenue & Customs (HMRC) is to be quizzed by MPs this afternoon over claims he allowed Goldman Sachs to escape £10m in interest payments on an offshore tax avoidance scheme.

The Financial Services Authority and Arch cru investors are caught in a 'Catch 22' deadlock over the release of information about Capita's role in the run up to the funds' suspension.

Treasury Select Committee chairman Andrew Tyrie has called on individual firms to send him details of how much regulation costs them each year, which the committee will use to challenge further rule-making.

NOT A DONE DEAL

More than 150 UK domiciled funds - equivalent to 12% of the total universe of funds today - have raised annual management fees over the past decade, a new Lipper study has revealed.

Nick Anderson, head of compliance and risk at IFA Towry, has made a shock departure from the firm a week after it was fined nearly half a million pounds for misleading the Financial Services Authority (FSA).

Prudential executives are set to be interviewed in the coming days as part of an FSA probe into the insurance giant's failed takeover bid for AIA.