Regulation

An alarmingly high number of consumers do not know how to risk-rate standard financial products, such as equity ISAs and with-profits bonds, research suggests.

The pick of this week's articles on IFAonline...

Advisers will contribute £33m towards the total expected cost of running the Financial Services Compensation Scheme (FSCS) in 2012/13, although they will also pay an additional interim levy of at least £40m before April.

The financial services industry will pay an extra £40m toward the Money Advice Service (MAS) after it agreed to take on responsibility for coordinating and providing debt advice.

The Financial Services Compensation Scheme (FSCS) says it expects to recover "very significant" sums of money paid out as compensation to investors mis-sold Keydata bonds.

Advice firms will pay £38.4m towards funding the Financial Services Authority (FSA) in 2012/13, the regulator proposed today.

In response to an FSA consultation paper on the post-RDR treatment of legacy assets, Cofunds’ managing director of operational services, Stephen Mohan, fears the regulator’s failure to issue new rules may harm consumers.

Three advisers explain what they are (or are not) doing to educate clients about certain changes due at the end of the year.

Standard Life has successfully sued its professional indemnity insurers for around £100m to recover losses related to its Pension Sterling Fund.

The Financial Ombudsman Service (FOS) looks set to hold its ground on plans to include the names of businesses involved when it starts publishing final decisions.