Regulation

The Financial Conduct Authority (FCA) is taking action against at least 16 firms or individuals who it believes are running or promoting investments illegally as collective investment schemes (CISs).

It has a population of about 20,000 and is best known for its cathedral and markets, but the Cornish city of Truro may currently be the best place to be an independent financial adviser, research suggests.

Adviser support group Tenet has launched a tool to help its directly-authorised members calculate their capital adequacy requirements.

Barclays will be among a number of major banks this week to set aside further money to compensate customers mis-sold payment protection insurance (PPI) and interest rate swaps, according to reports.

QUICK QUIZ

Adviser charges based on hourly rates have largely remained the same as before the Retail Distribution Review (RDR), research commissioned by the Association of Professional Financial Advisers (APFA) suggests.

The Financial Conduct Authority (FCA) has cancelled the permissions of Somerset-based IFA firm Churchill Securities after it failed to co-operate with the regulator.

Nearly a third of advisory firms have lost clients as a result of the Retail Distribution Review (RDR), according to research from GfK.

The Association of Professional Financial Advisers (APFA) said it was surprised about how few issues came out of the regulator's first thematic review into the post-Retail Distribution Review (RDR) adviser industry.

The Financial Conduct Authority has published the results of the first stage of its three-pronged review into firms' compliance with new rules following the RDR.