Regulation

The Complaints Commissioner has used his annual report to highlight problems his office faced when dealing with the Financial Services Authority (FSA).

Fund supermarket Hargreaves Lansdown is continuing to shun investment trusts despite bolstering its research into the sector over the past year.

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The Financial Services Compensation Scheme (FSCS) has declared a further 14 advisory businesses in default.

The Financial Services Authority handed out fines totalling more than £400m in the last year before it was overhauled, a huge jump from previous years amid mammoth fines for banks over LIBOR failings.

The head of the Financial Conduct Authority (FCA) has revealed details of its thematic review into the £902bn unit-linked funds sector -and said the regulator is also looking into the annuity market.

Regulatory reform costs of the former regulator, the Financial Services Authority (FSA) more than doubled in the last year of its operation and could in future be levied on firms, the FSA annual report has revealed today.

Staff costs at the regulator were £15.4m higher than budgeted for following its decision to make a one-off contribution of £22m to reduce its defined benefit pension scheme deficit.