Regulation

PENSIONS

EMERGENCY EXIT

Trade minister Lord Green, the former CEO and chairman of HSBC, has been warned he has "serious questions" to answer over the bank's failure to stop money-laundering by drugs cartels and terrorists.

The proportion of advisers intending to leave the industry ahead of Retail Distribution Review (RDR) implementation appears to be levelling out, a survey has suggested.

The Financial Services Authority (FSA) has banned a mortgage adviser following his role in a multi-million pound fraud, for which he was sentenced earlier this year.

The Association of Independent Financial Advisers (AIFA) has set out plans to the Treasury on how regulatory fines could be used to transition the Financial Services Compensation Scheme (FSCS) to a pre-funded system.

David Lawton, acting head of the Financial Services Authority's (FSA's) markets division, has been appointed to the post permanently.

The Financial Services Authority (FSA) is asking former Honister Capital IFAs to detail their exposure to Arch Cru and Keydata, as well as any previous pension transfer activity, as the advisers seek to be re-authorised.

National Advisory Group, Foster Denovo has agreed to acquire the corporate division of wealth manager Barker Poland.

The board of the Arch Cru fund cells has signalled its intentions to ramp up legal action against the service providers behind the investments.