Regulation

A law firm has told Arch Cru investors it is unlikely they will end up receiving the entire £110m redress the Financial Services Authority (FSA) is expecting advisers to pay out.

The IFA Centre has begun lobbying the Financial Services Compensation Scheme (FSCS) on alternative funding models for advisers - including a separate category for firms recommending riskier investments.

Less than 2% of Arch Cru investors have so far taken a complaint about the advice they received to the Financial Ombudsman Service (FOS), it has been revealed.

The Financial Services Authority (FSA) has fined Christchurch Investment Management, a small firm specialising in financial planning and portfolio management, £26,600 and its compliance officer £11,550 for failings in relation to the protection of client...

Prudential has announced details of its products eligible for adviser charging - allowing IFAs to receive fees direct from the provider, rather than the client.

The Financial Services Authority (FSA) has confirmed that the 30-month rule applies to most Retail Distribution Review (RDR) activities.

The Financial Services Authority (FSA) said it will be on the look-out for firms opting to close down their businesses to avoid paying into a redress scheme for Arch Cru investors.

Locating the Prudential Regulation Authority (PRA) close to the Bank of England will cost about £1m more a year than keeping it in Canary Wharf.

ARCH CRU

Advisers may be faced with an extra £33m in Financial Services Compensation Scheme (FSCS) levies as a result of firm failures caused by a proposed £100m FSA Arch Cru redress scheme.