Regulation

The Association of Professional Financial Advisers (APFA) has asked for the regulator's budget to be frozen for three years, so it can provide a cut in real terms.

The Financial Conduct Authority (FCA) has agreed to issue further guidance on the treatment of legacy cash rebates as part of its next quarterly consultation paper.

St James's Place (SJP) took advantage of a "dislocation" in the advice market caused by regulatory upheaval to grow adviser numbers by more than 6% in the first half of the year, its CEO David Bellamy has said.

A Berkshire-based IFA is in the process of building an execution-only offering for existing clients with investable assets of £50,000 or less, but who no longer want to engage with the firm's advice process.

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.