Regulation

Martin Wheatley, the managing director of the Financial Services Authority (FSA) and chief executive designate of the incoming Financial Conduct Authority (FCA), has praised financial advisers for their treatment of clients.

The Association of Professional Financial Advisers (APFA) has urged the Ministry of Justice (MoJ) to investigate Claims Management Companies (CMCs), which it thinks are increasingly manufacturing claims.

The head of the incoming Financial Conduct Authority (FCA) has suggested the new body will adopt a less aggressive tone than its predecessor and will instead seek to "have a dialogue" with the companies and individuals it regulates.

Restricted network Personal Touch Financial Services (PTFS) has rooted out about 200 investment and pension "dabblers" after evaluating their value and risk to the business.

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Advisers should consider selling their businesses within the next 18 months before prices offered by consolidators fall, according to a consultancy firm.

The Financial Conduct Authority (FCA) has appointed three chairmen, including the chief executive of Nationwide, to lead the independent panels set up to represent its constituents' interests and provide independent views to the regulator.

The incoming Financial Conduct Authority (FCA) has outlined how it plans to use new powers permitting it to publish details of enforcement cases at one of the earliest stages of its proceedings.

The Financial Services Compensation Scheme (FSCS) has cut its interim levy for investment intermediaries for 2012/13 from £25m to £20m, and has said it will not rule out pre-funding as a means of raising cash for the scheme.