Regulation

Hundreds of financial advisers in New Zealand will have to stop giving advice on investment products from July as they have not attained the necessary qualifications.

A man previously investigated for his role in overseas boiler-room activities has been fined more than £1m by the FSA for deliberately inflating the share price of a Manchester-based brands business for financial gain.

A shift in focus by the Financial Services Authority (FSA) toward the biggest City banks in the wake of the financial crisis has led to a dramatic reduction in the number of risk assessments conducted into financial firms.

Hector Sants, chief executive of the FSA, said the organisation's successor the Prudential Regulatory Authority (PRA) will take a judgment-based rather than reactive approach to regulation.

Aviva has said 85% of its new business value is unaffected by changes brought on by the RDR.

The FSA has refuted claims it is failing to fulfil statutory obligations to provide consumer financial education.

The ABI has censured Standard Life over rewards for its directors, ahead of the insurer's annual meeting tomorrow.

MPs today rejected a bill which could have stopped the FSA increasing its regulatory fees above the rate of inflation.

The courts have granted leave for a taxpayer to appeal a decision which could have ramifications for investigations into past tax returns.

Firms offering non-advisory roles to IFAs who fail to meet RDR requirements are being warned by the FSA to make sure they do not stray into delivering advice.