Industry

Net retail sales once again exceeded £2bn in June having suffered a fall the previous month, according to the IMA.

The IMA has expressed concern structured products will face less scrutiny under the new regulatory system set up to replace the FSA.

The FSA will be able to restrict firms from selling certain products and suspend individuals as ‘disciplinary' measures when it implements new powers granted to it under the Financial Services Act 2010.

AMI has warned gross mortgage lending for 2010 may fall short of its previous £150bn estimation.

Nationwide is to stop offering mortgages through its Dunfermline, Cheshire and Derbyshire Building Societies brands, which will refer mortgage customers to Nationwide through in-branch independent financial advisers.

Long term care, mortgage and equity release qualifications could be reviewed by the FSA every three years to "ensure they remain up to date and relevant".

The FSA has banned three mortgage brokers from working in regulated financial services and fined a fourth £17,500 for mortgage fraud and advice failings.

Home of Choice has gone into administration after acquisition talks failed at the last minute.

Former clients of defunct adviser firm Network Data have been invited to file for compensation after the FSCS today declared the network in default.

Equity release provider Stonehaven has temporarily suspended all new lending.