Regulation

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.

The government has recovered a further £1.3bn from the Landsbanki estate in Iceland, which operated as Icesave in the UK, following its collapse at the height of the financial crisis.

Arch Financial Products chief executive Robin Farrell has been denied the right to appeal a High Court judge's ruling that he is guilty of dishonesty and his firm of negligence in the management of the failed Arch cru fund range.