The Financial Services Authority (FSA) will conduct a review into the £800bn unit-linked fund sector.
Insurance companies such as Standard Life and Resolution could lose out from a Financial Services Authority (FSA) probe into the £11bn annuities market, analysts said.
Thousands of advisers have yet to obtain their mandatory statement of professional standing (SPS), according to figures from accredited bodies.
The Financial Services Authority (FSA) wants the power to ban individuals while it is still investigating them for alleged wrongdoing.