Regulation

The Council of the European Union has proposed to delay the implementation of Solvency II until 1 January 2014, a year later than planned.

The Financial Services Consumer Panel (FSCP) will ensure the FSA does not "cave in" to pressure from the industry on grandfathering exemptions from qualification requirements for long-standing advisers, it has said.

Government plans to use transparency and disclosure as a regulatory tool - including publishing warning notices against advice firms - could hurt consumer confidence in the industry and make them disengaged from financial services entirely, the Treasury...

Government plans to give the FSA's successor powers to intervene in product regulation could lead the public to expect they have been endorsed by the regulator and so are ‘safe', ministers have been warned.

The government has confirmed the FCA will have a statutory duty to promote competition, but stopped short of making it one of the new body's core principles.

The FSA has raised concerns over the implementation of key European directives including MiFID and the proposed regime for packaged retail investment products (PRIPs).

Graeme Ashley-Fenn, head of the authorisations division at the FSA, has left the regulator for personal reasons.

The Financial Services Authority (FSA) spent £763,000 on a review of the Financial Services Compensation Scheme (FSCS) only to shelve it in 2010.

MPs who back advisers' calls for a speedy review of FSCS funding will take the fight to Treasury Secretary Mark Hoban, after the FSA last night refused to commit to an April 2012 deadline for the overhaul.

The FSA has banned and fined a self employed trader £700,000 for market abuse through manipulation of shares and derivatives.