Regulation

MPs on the Treasury Select Committee (TSC) have once again called for upcoming legislation to give them the power to hold pre-appointment hearings for the chief executive of the Financial Conduct Authority (FCA).

Adviser trade bodies AIFA and the IFA Centre have both criticised the Money Advice Service in a submission to the Treasury Select Committee.

Financial advisers will pay a lower fee to fund the Financial Services Authority (FSA) than initially thought after arrangements for 2012/13 were finalised.

The man responsible for HSBC's UK retail and commercial banking business has been named as the next chairman of the Financial Services Practitioner Panel (FSPP).

The Financial Services Authority (FSA) is telling banks, building societies and credit unions to publicise more prominently the guarantee schemes which apply to their customers' deposits.

The Financial Services Consumer Panel (FSCP) has urged the Money Advice Service (MAS) to expand its offerings and ‘push regulatory boundaries' in order to help to close the advice gap.

The regulator has set out the circumstances under which the new Financial Conduct Authority (FCA) will exercise its temporary product intervention powers.

GOODBYE FSA

A chartered financial planner claims to have found evidence of attempts to maximise commission by both bank advisers and IFAs ahead of the RDR.

A Newport-based financial adviser has admitted to fraudulently gaining almost £250,000 from clients and an insurer, as well as perverting the course of justice.