Regulation

The Financial Conduct Authority (FCA) is concerned about the due diligence advisers perform on investment product providers and will continue to monitor the area, technical specialist for the regulator Rory Percival has said.

The Financial Services Compensation Scheme (FSCS) has paid out more than £880,000 to clients who lost money following the collapse of overseas property schemes advised on by former IFA Bentley-Leek.

The Financial Ombudsman Service (FOS) has reported a 39% increase in overall complaints against financial products, with increases in claims related to self-invested person pensions (SIPPs), personal pensions and annuities.

The Financial Conduct Authority (FCA) has temporarily suspended 11 of Co-op Bank's bonds on the request of the company, pending an announcement of a rescue plan by parent company Co-op Group.

The Financial Services Compensation Scheme (FSCS) has declared a further 18 advisory firms in default.

J.P. Morgan has reportedly agreed to pay an £8bn ($13bn) fine as part of a settlement with the US over its role in the mortgage-backed securities market, which led to the near-collapse of the US financial system.

The Financial Conduct Authority (FCA) has said it is reassured by the progress banks have made in moving away from incentives-based sales models but it is still concerned about how investment and protection products are sold to consumers.

The Financial Conduct Authority (FCA) has confirmed it is investigating firms in relation to trading on the foreign exchange market.

The Treasury is exploring the idea of capping tax-free ISA allowances to crack down on 'ISA millionaires', while investigating plans to reduce the amount retirees can take as a tax-free lump sum.

REGULATION