Regulation

The Financial Services Authority (FSA) has fined an independent financial adviser £60,000 for the unsuitable sales of Unregulated Collective Investment Schemes (UCIS) and other non-mainstream investments.

Avisers can sign customers up to adviser charging (AC) via the Skandia Investment Solutions platform from today.

The Association of Independent Financial Advisers (AIFA) is urging members to challenge the Financial Services Authority (FSA) over proposals to force advisers to compensate clients invested in Arch Cru.

A government minister has joined the growing number of voices expressing concerns about Money Advice Service chief executive Tony Hobman's remuneration package.

PROFESSIONALISM

Financial advisers will pay a lower fee to fund the Financial Services Authority (FSA) than initially thought after arrangements for 2012/13 were finalised.

The Financial Services Authority has fined hedge fund boss Alberto Micalizzi £3m and banned him from performing any role in regulated financial services, after he lied to investors in his now defunct fund.

Andrew Tyrie, the chairman of the Treasury Select Committee, has asked George Osborne to respond to suggestions from Barclays that retrospective tax action taken against the bank earlier this year was "unwarranted".

Three people have pleaded guilty to insider dealing following a prosecution brought about by the Financial Services Authority (FSA) relating to Blue Index, although two other employees caught up in the same case have been acquitted.

Multi-manager investment boutique Architas is launching a Multi-Asset Blended range of eight funds, combining active and passive management styles.