Regulation

The Financial Conduct Authority chief executive's statement that advisers should not charge their clients a percentage of assets "significantly overstepped commercial lines" according to one managing director and adviser.

The Personal Finance Society (PFS) has launched an online development tool aimed at helping advisers meet the minimum 35 hours continuing professional development (CPD) regulatory requirement.

A telephone advice service offered by Aviva - originally believed to be a casualty of the provider's decision to exit advised sales in May - was in fact pulled months earlier after an audit flagged concerns over the quality of advice given to customers....

HM Revenue & Customs (HMRC) successfully prosecuted more than 600 people for tax evasion in 2012-13, more than double the amount in the previous 12 months and well ahead of its target for the year, figures show.

Financial advisers should utilise their relationships with solicitors and accountants to drum up auto-enrolment (AE) business, the Association of Professional Financial Advisers (APFA) has said.

The National Audit Office (NAO) has launched an investigation into the new financial services regulatory structure that came into effect this year.

The government has named the first bodies to have applied for the 'super complainant' status, a legal tool which will allow them to force the regulator into swift action over failings in the financial services sector.

SPACE INVADERS

MULTI-ASSET

Lloyds Banking Group is back in the black after announcing a profit before tax of £2.1bn for the six months to the end of June - and said it is on course to target IFA clients orphaned by the Retail Distribution Review (RDR).