Regulation

The Financial Services Authority (FSA) remains confident there will be a viable simplified advice market post-retail distribution review (RDR) implementation and has said it is already seeing well developed plans.

Independent network Sense has become the first network to negotiate a deal with SIFA Professional.

Tony Hobman has resigned from his position as chief executive of the Money Advice Service (MAS).

DIAMOND

The Financial Services Authority (FSA) has said that advisers with Honister Group, which today entered administration, may have to wait a "number of months" before they can be re-authorised.

The imminent division of the Financial Services Authority (FSA) into two regulatory bodies presents an opportunity to leave the FSA's "damaged reputation" in the past, its chairman, Adair Turner, said today.

The government has ordered a parliamentary inquiry into professional and cultural standards in British banking less than a week after Barclays was fined for attempting to fix Libor and its European equivalent, Euribor.

Analysts have suggested the fallout from the LIBOR price-fixing scandal may ultimately lead to significant asset disposals or even a break-up of the bank.

Firms that continue to have issues picked up on by the Financial Services Authority (FSA) are likely to be treated more harshly by the regulator's successor, according to one of its directors.

The Financial Services Compensation Scheme (FSCS) has reduced the amount of compensation it is planning to collect from AWD Chase De Vere over its sale of Lifemark-backed Keydata investments, the national IFA has said.