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).

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 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.

The government must conduct a full review of the 'uncontrollable' cost of regulation and the impact it is having on businesses, according to Tenet.

CONDENSED NEWS

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

Bupa has become the second insurer to give further clarity about its complaints levels, suggesting providers may want further details to be published by the Ombudsman to put figures into a wider context.

Greg Becker fears the RDR may worsen consumer detriment as fewer people seek advice.