Regulation

Financial secretary to the Treasury Greg Clark has been replaced by Sajid Javid in the government reshuffle.

IFA Willow Financial has been forced into administration over £1.5m in liabilities relating to its Arch Cru advice - but has been bought back by some of its former partners at a knock-down price, and they won't be footing the bill for claims.

The practice of product providers facilitating the payment of adviser charges to IFAs is likely to "fall horribly on its face", just as it did in Australia a decade ago, according to a business consultant.

DEAR MR...

Advisers' contributions to the Financial Services Compensation Scheme (FCSC) may rise if a Financial Conduct Authority (FCA) proposal to widen the number of eligible claimants in the event of an investment failure is approved.

Restricted advice network Openwork has reported its first ever profitable year thanks to a "more productive, better quality" adviser base.

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The Financial Conduct Authority (FCA) has set out how it plans to regulate the consumer credit sector when it takes over from the Office of Fair Trading (OFT) next year, including plans to restrict what payday lenders can say in adverts.

FROM THE EDITOR

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