Regulation

UNREGULATED

Royal Bank of Scotland (RBS) will have to undergo an independent skilled person review of its lending practices following allegations that it put some good and viable businesses into default so it could boost profits.

Consumers priced out of full advice may yet be able to seek the expertise of an adviser via a chargeable "dip in, dip out" information-only model, according to Cofunds distribution director Andy Coleman.

The Financial Conduct Authority (FCA) needs to ensure people who have been shut out of the advice space can't return and "make a monkey" out of the system, the Association of Professional Financial Advisers (APFA) chairman has said.

The High Court has ordered into liquidation a property investment scheme promoted by former Manchester United footballer Lee Sharpe.

A ban on pre-Retail Distribution Review (RDR) trail commission threatens to make business unsustainable for nearly half of advisers, according to research from GfK and Panacea Adviser.

Royal Bank of Scotland's new chief executive, Ross McEwan, has denied claims the bank 'systematically' ran small businesses into the ground, and said the allegations have damaged RBS' reputation.

Treasury Select Committee (TSC) chairman Andrew Tyrie has called on the industry to help parliament hold the financial services regulator to account to avoid "excessive regulation" that could "create the stability of the graveyard".

WILLS

REGULATION