Regulation

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.

Senior FSA executive Andrew Bailey has accused Barclays of operating with a "culture of gaming" which came from top of the bank.

The Financial Services Authority )FSA) has banned Quintillion Asset Management from conducting regulated business, after failing to pay fees and levies of over £8,000.

Inadequate controls at HSBC allowed it to be used to launder suspicious money from around the world, including Mexican drug money, a damning US report has found.

The Association of Independent Financial Advisers (AIFA) is urging the Chancellor to reconsider plans to direct regulatory fines to government coffers.

Two Labour peers have introduced an amendment to the Financial Services Bill seeking to minimise Financial services Compensation Scheme (FSCS) costs borne by levy-payers.