Regulation

SANTS DEPARTURE

Hector Sants is to quit the FSA in the summer, and will not become deputy governor of the Bank of England or CEO of the Prudential Regulation Authority.

Industry veteran Ken Davy has demanded answers from the Financial Services Authority (FSA) on why it did not disclose the fact it had ordered changes to Arch Cru marketing materials before the collapse of the investment scheme.

Mark Hoban has admitted there is "no perfect solution" to the funding for the Financial Services Compensation Scheme (FSCS) but insisted it is the industry which should pay for any failures.

FACE TIME

Simon Ellis, managing director of Legal & General Investments, explains why index funds should not be viewed as the poorer relation of their active cousins and why investors are no longer using them to just tap into developed market growth.

INTERIM LEVY

The Financial Services Compensation Scheme (FSCS) says it does not expect any major investment failures in the next financial year after setting another interim levy for financial advisers.

The Financial Services Compensation Scheme (FSCS) has confirmed a £60m interim levy for financial advisers and other investment intermediaries.

Standard Life CEO Paul Matthews said he is excited about the roll-out of the retail distribution review (RDR) next year, as he expects more advisers to use its fee-ready wrap and investment solutions.