Regulation

Britain's largest bank HSBC has set aside an extra $800m to cover settlements for breaching anti money-laundering rules in the US.

CONDENSED

HSBC is to convert its whole-of-market advisory proposition into a restricted advice model next year, Investment Week, IFAonline's sister title, understands.

Keith Churchouse, director of Chapters Financial, plans to launch a simplified advice platform in the New Year after earlier putting the project on hold.

A decision by the Financial Services Authority (FSA) to cut the lower projection rate for some investment products to 2% could deter many consumers from saving, provider LV= said.

Pension and severance payments totalling £412,000 handed to the former chief executive of the Serious Fraud Office (SFO) have been ruled "irregular" by the National Audit Office (NAO).

The Financial Services Compensation Scheme (FSCS) will accept customer claims for compensation against Rockingham Independent after declaring it in default - though it remains unsure whether it will process claims related to sales of bonds issued by ARM...

REGULATION

FATCA

UNREGULATED