Regulation

Charging fees at 'implementation' - or where a product is purchased - is a legacy of the distribution system and should be ditched, a financial services expert has said.

The Financial Conduct Authority (FCA) is stepping up efforts to clamp down on firms' financial incentives schemes in a bid to mitigate the risk of further mis-sellings of products.

Legacy commission still accounted for more than half of adviser income at end of March, according to research released today.

The Office of Fair Trading (OFT) has been criticised by MPs for being "ineffective and timid in the extreme" over its failure to tackle loan sharks and payday lenders.

Time spent completing the regulator's retail mediation activities return (RMAR) forms is costing the industry millions, according to the Association of Professional Financial Advisers(APFA).

REPLACEMENT BUSINESS

PROTECTION

KEYDATA

Richard Philbin, the former F&C and Architas multi-manager, has teamed up with the founder of Skandia's Best Ideas range Alan Durrant to launch a new multi-manager business.

Advisers have seen the number of complaints against them soar over the past year, however figures show that more than half of the cases were dropped by the ombudsman.