Regulation

Fund managers looking to offer clean share classes could find it "cheaper" and "simpler" to adapt existing institutional share classes as opposed to developing new ones, Deloitte has suggested.

The Financial Services Authority (FSA) has lost a test case involving UBS in which it tried for the first time to punish a senior manager for inadequate supervision rather than for errors he personally committed.

REGULATION

The Financial Services Compensation Scheme (FSCS) has made its first payments to investors caught up in the collapse of MF Global.

Cofunds has reported a 10% dip in profits for last year, citing investment in retail distribution review (RDR) readiness as the reason for the drop.

The FSA has said that large firms may be stalling the move to pure adviser charging propositions because their competitors have not yet made the transition.

Fund providers are preparing for the RDR deadline at the end of the year by launching share classes without commission and platform fees.

THE REVEAL

FAIR?

The Financial Services Compensation Scheme (FSCS) has begun proceedings against more than 160 advisory firms it alleges mis-sold Lifemark-backed Keydata products.