Regulation

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.

The vast majority of advisers who risk-rated the Arch Cru funds ranked them as either low, low-to-medium or medium risk investments, FSA figures suggest.

Conservative heavyweight David Davis MP has called on the Serious Fraud Office to investigate the Arch Cru collapse, according to reports.

The Financial Services Compensation Scheme (FSCS) has more than doubled the annual levy for financial advisers for 2012/13, largely as a result of known claims relating to Arch Cru and MF Global.

The majority of advisers will not offer a self-directed service to clients after the Retail Distribution Review (RDR), recent findings suggest.

2012 marks a watershed for the Life companies, fund managers, banks and advisers who service the long-term savings and investments space. The countdown to auto-enrolment, the RDR and Solvency II is well underway, and the remaining months of preparation...