Regulation

Victims of failed £400m overseas property investment Harlequin have appeared on national television to reveal how losing their retirement funds has left them "frightened" as they enter old age.

An adviser trade association is calling on the regulator to ensure its final guidance on using social media channels is clear after a poll of members suggested more than a third were unaware the watchdog was looking into the issue.

Adviser network Financial Ltd has received numerous applications from firms to join since a recruitment ban was lifted late last year, director Brian Galvin has said.

The Financial Ombudsman Service (FOS) is to make further cuts to its operating budget in the coming financial year and has frozen its levy at £23.3m.

The Financial Services Compensation Scheme (FSCS) is to start compensating investors in failed investment group Hartmann Capital.

Arch Financial Products (AFP) chief executive Robin Farrell has hit out at "deeply regrettable" findings in a recent lawsuit against him and said investors could lose up to £4.4m in distributions from the action.

The Financial Conduct Authority (FCA) has warned of a scammer pretending to be an authorised wealth manager and targeting investors in the UK.

The Financial Reporting Council (FRC) is to investigate several years' worth of Tesco financial statements following the revelation the supermarket overstated profits earlier this year.

A former partner of unregulated property investment Arck LLP has pleaded guilty at Southwark Crown Court to three fraud charges brought by the Serious Fraud Office (SFO).

The European Securities and Markets Authority (ESMA) has released its final technical advice on the implementation of MiFID II, covering the use of dealing commission, derivatives, and high frequency trading.