Regulation

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.

The number of registered chartered financial planners in the UK has almost doubled from three years ago, and now tops 3,000, figures show.

VALUE OF ADVICE

The European parliament is set to reject a ban on commission to independent financial advisers (IFAs) when it votes on MiFID II next week.

SCEPTIC?

An amendment to the Financial Services Bill proposed by two Labour peers could open up the possibility of financial advisers not having to be regulated if they do not charge for their services.