Regulation

Aberdeen Asset Management is warning investors to watch out for a scam artist claiming to represent the firm.

RESEARCH

A tax avoidance scheme sold by serial avoidance promoter NT Advisors has lost its third bid for legitimacy, saving the country £100m, HM Revenue & Customs (HMRC) has said.

Financial services industry players have voiced their frustrations about the regulator's lack of clarity in the direct to consumer (D2C) and simplified advice space, saying it is hampering innovation and preventing them from bridging the advice gap.

FSCS

The Financial Conduct Authority (FCA) has banned former BGC Partners senior executive Anthony Verrier due to concerns over his integrity after he was found to have poached former colleagues from a rival firm.

The Financial Services Compensation Scheme (FSCS) said it would consider accepting claims from investors who have opted out of the Arch Cru redress scheme.

There exists a "nervousness" in the professional indemnity insurance (PII) market which could force more IFAs to offer restricted advice, according to Prudential distribution change director Russell Warwick.

Financial advisers are expected to fork out £31.5m in compensation to clients who invested in the CF Arch Cru Investment and Diversified funds (Arch Cru) and were found to have received unsuitable advice.

The Financial Conduct Authority (FCA) has fined Canadian trading firm Swift Trade £8m for market abuse after the Court of Appeal concluded a legal battle that lasted for more than two years.