Regulation

The chief executive of Arch Financial Products (AFP) has hit out at Capita after the board it appointed to administer the Arch Cru cells hit him with a £26.6m lawsuit.

Advisers have criticised the Ministry of Justice (MoJ) for failing to protect firms from invalid mis-selling cases levelled by claims management companies (CMCs).

The Ministry of Justice (MoJ) has shut down about one in five claims management companies (CMCs) over the past year, in many cases following complaints from consumers.

A Newport-based financial adviser has admitted to fraudulently gaining almost £250,000 from clients and an insurer, as well as perverting the course of justice.

An IFA has been instructed to compensate a couple their entire invested capital in a Keydata bond plus interest after an ombudsman found he "completely disregarded" their interests when advising them.

An independent adviser has been told he will not have to compensate a client he recommended invest in a Keydata product, even though an ombudsman ruled he had given unsuitable advice.

CPD

EMERGENCY

The Financial Services Authority (FSA) should extend its guidance on investment-switching suitability to consider volatility and risk, according to Skandia Investment Group.

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