Regulation

The Financial Services Authority (FSA) has laid bare some of the sales practices adopted by firms in the now-defunct sale and rent back (SRB) market, including evidence one firm charged clients up to £40,000 on single transactions.

The management at Swindon-based Intrinsic Financial Services has bought out shareholder Lloyds Banking Group in a bid to make the company saleable.

The Financial Services Authority (FSA) has appointed Bill Sillett as head of retail enforcement, replacing Tom Spender.

The incoming Financial Conduct Authority (FCA) must "act more swiftly" than its predecessor the Financial Services Authority (FSA), and ensure it utilises the full powers at its disposal, a body representing consumer interests has recommended.

Financial advisers working in banks will have a tougher time than IFAs persuading clients to part with a fee for their services, research suggests.

Friends Life has introduced fee facilitation options across a number of product ranges ahead of the implementation of new remuneration rules brought about by the Retail Distribution Review (RDR).

A sole trader independent financial adviser has been banned by the Financial Services Authority (FSA) and fined £10,500 for lacking competence and failing to treat his customers fairly.

HSBC has put aside $1.3bn (£830m) in UK customer redress provisions and $700m (£450m) relating to US regulatory and legal issues as it reports $12.7bn in interim pre-tax profit.

Six people have been jailed after a successful Financial Services Authority (FSA) prosecution for insider dealing.

IFAs expect DIY investing to rocket post the Retail Distribution Review (RDR), but the number that think this will cause problems for their clients has fallen year on year, according to research.