Regulation

The Financial Services Authority (FSA) has warned providers are still using confusion around independence requirements to promote unregulated collective investment schemes (UCIS) to advisers.

UCIS CONCERNS

The FSA has sent letters to IFAs demanding information on their advice around, and dealings with, unregulated collective investment schemes (UCIS) for retail clients over the last four years.

Royal Bank of Scotland is likely to get £300m less than it expected for the sale of 318 branches to Santander, the FT reports.

Labour MP Michael Meacher has received cross-party support for a Private Member's Bill which would prohibit any financial arrangements principally designed for the purpose of tax avoidance.

The High Court has rejected a bid for a judicial review into the £54m redress scheme brokered by the Financial Services Authority (FSA) offered by Capita and other businesses to Arch Cru investors.

A top official at the Financial Services Authority (FSA) has warned Britain's four largest banks face more questions over their sale of interest rate hedges to small business customers.

The Bank of England has warned hedge fund managers the eurozone crisis could result in a clampdown on their activities.

Money Advice Service (MAS) chairmn Gerard Lemos has defended the organisation against the torrent of criticism it has received, insisting it is "crap".

COVER STORY