Regulation

Mutual life and investment group LV= has reported a drop in sales of 14% for the first half of the year, despite seeing a hike in group pre-tax profit of 144%.

The Financial Services Compensation Scheme (FSCS) has confirmed that it will calculate compensation fees on a three-year basis in the future, following a consultation process that received some "detailed" but "positive" feedback.

The Financial Conduct Authority (FCA) has outlined the scenarios in which the payment of cash rebates from providers to consumers can continue after a wider ban comes into force next year.

Former Financial Services Director (FSA) director of conduct policy Sheila Nicoll has joined Ernst & Young's asset management practice as a senior adviser.

The Association of Professional Financial Advisers (APFA) has endorsed the regulator's show of interest in the issues firms are facing with Retail Mediation Activities Return (RMAR) reporting but warned that more work needed to be done.

An adviser has complained to the Financial Conduct Authority (FCA) following an hour-long phone conversation about Retail Mediation Activities Return (RMAR) reporting that led to an agreement over accounting rules that was not "entirely logical".

A group of MPs will next year evaluate the impact of the Retail Distribution Review (RDR) - with a particular focus on the ban on commission - in what represents the first independent, external probe into the RDR's influence.

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