Regulation

LONG-LOST

Lord Turner, Mark Hoban and Steve Webb have rebuffed complaints from a group of senior politicians about the adverse effects they claim the retail distribution review (RDR) will have on pension provision.

The Money Advice Service has failed to make clear its strategy and is in danger of failing to serve its target audience, according to a shadow minister.

Hector Sants's shock decision to quit the FSA at the end of June brings to an end a fractious eight-year relationship with financial advisers.

I'M SORRY

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