Regulation

Advisers are equally split on whether the Retail Distribution Review (RDR) will have a beneficial impact on the industry, according to Skandia.

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The Financial Services Authority (FSA) should get an independent body such as an accountancy firm to review the success of the Retail Distribution Review (RDR), Zurich's head of government and industry affairs team Matt Connell has said.

The Institute of Financial Planning (IFP) has had its Diploma in Financial Planning accredited at Level 6 by qualifications regulator Ofqual.

The Office of Fair Trading (OFT) has told the country's 50 leading payday lenders that they have 12 weeks to change their business practices or risk losing their licenses.

Insurance giant Legal & General (L&G) has reported increased operating profit of £1,087m following double digit sales growth.

The Financial Services Authority (FSA) has outlined plans for a further clampdown on referral fees paid by discretionary fund managers (DFMs) to advisers.

Standard Life has confirmed that trail commission will be switched off on 12 of its legacy products where clients increase or restart regular payments, even if the activity is non-advised.

A Financial Services Authority (FSA) audit report into the London Interbank Offered Rate (LIBOR) scandal has found the regulator failed in at least three key areas which meant it did not realise the rate was being fixed.

Networks Openwork and Sesame saw complaints against them at the Financial Ombudsman Service (FOS) rise in the second half of last year, with Sesame receiving over 90% more claims.