Regulation

The Financial Conduct Authority (FCA) has fined Axa Wealth Services £1.8m for failing to ensure it gave suitable investment advice to its customers.

AIFMD

Wealth manager Bestinvest has outlined plans to almost double its restricted financial planning team, as the group seeks to take advantage of the withdrawal of a number of major banks from the advice space.

The Retail Distribution Review (RDR) has exacerbated a polarisation of the advisory market, with an almost even split of firms forecasting growth and those predicting static or declining revenues over the next three years, research has suggested.

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The Financial Ombudsman Service (FOS) has said it welcomes a regulatory review into how "major" financial institutions handle complaints, but warned it first needed to look at the barriers to complaining.

The Financial Services Compensation Scheme (FSCS) is in discussions with major financial services firms to display its logo in their TV adverts as part of its awareness campaign.