Regulation

The FSA has banned Lancashire-based broker Neil McKay for cancelling contracts of insurance without client approval.

The FSA has confirmed that, other than one exception, it will not be making any changes to the short selling measures introduced on September 18.

Advisers are faced with a stark choice of adapting their business to harsh economic downturn conditions or facing extinction.

The FSA's Retail Mediation Activities Return (RMAR) regulatory reporting system has encountered difficulties in the early stages of its launch.

Skandia is set to run a series of Trailblazer seminars focusing on advisers' use of platforms and the possible impact of the RDR on intermediaries' businesses.

The FSA has issued combined fines totalling £45,500 to two firms for failures relating to the sale of geared traded endowment policies.

The FSA has fined Alliance & Leicester (A&L) £7m for serious failings in its telephone sales of payment protection insurance (PPI).

AIFA policy director Andrew Strange has called on the FSA to provide a "sensible" transition period of at least five years for advisers to gain post-RDR qualifications.

The FSA has responded to the controversy surrounding compensation levels by raising the limit for bank deposits from £35,000 to £50,000 as from October 7.

The FSA has fined IFA firm TBO Investments £28,000 for failing to clearly document the explanation of transaction risks to its clients.