Regulation

A failure by HM Revenue & Customs (HMRC) to reduce errors and fraud in the tax credit system has "cost the taxpayer dear", a group of MPs said, after the tax authority admitted it would miss its target by £5bn.

The Financial Services Complaints Commissioner has dismissed a complaint by a group of London traders against the Financial Services Authority (FSA) for its handling of alleged market abuse on a number of exchanges dating as far back as 2007.

IFAs in Scotland could see regulatory costs rise, and have to deal with an inefficient compensation scheme, should the nation's electorate vote 'yes' to independence from the UK, a government report warned.

The Money Advice Service (MAS) is calling on stakeholders in the financial services industry to share their knowledge of what works for consumers as part of a wider project designed to improve the overall financial wellbeing of Britons.

The Financial Conduct Authority (FCA) is stepping up efforts to ensure firms are meeting its client money rules, according to a consultant.

Independent financial adviser Bradbury Hamilton has bought two client banks as part of its growth strategy and has further acquisitions in sight.

END OF THE TRAIL

The Financial Conduct Authority (FCA) has issued a rallying call to advisers and the wider industry to help it regulate, saying it "can't do it alone".

The government has rejected proposals to regulate the practice of will-writing, following a written request from the Legal Services Board (LSB) which said it had uncovered a "compelling case" for regulatory oversight of the industry.

Local authorities must provide care funders with information helping them to access independent financial advice, the revised Care Bill has stipulated, though concerns have emerged surrounding councils' definition of 'independent'.