Regulation

Historical success convincing consumers that advice is free could push many advisers out of the industry post-RDR, according to a Barclays director.

The Financial Services Authority (FSA) has publicly censured Cattles and its subsidiary Welcome Financial Services for publishing misleading information to investors about the credit quality of the latter's loan book.

Former Honister Capital strategy director Alan Easter has founded a financial planning and fund management businesses.

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

GRIPES

Advisers continue to be confused by the FSA's stance on single platform use, research suggests.

Advisers are beginning to assess the impact of how the latest Financial Services Compensation Scheme (FSCS) levy will impact their business.

A financial adviser has been fined £95,200 and banned by the Financial Services Authority (FSA) for knowingly submitting mortgage applications in his own name which contained false information.

Proposed changes to the Financial Services Compensation Scheme (FSCS), opening up eligibility to more parties, are likely to lead to increased compensation costs and higher levies.

The Financial Ombudsman Service (FOS) has set its budget for 2012/3 at £191.1m, meaning both the case fee and total levy will be frozen for the third year running.