Regulation

THE Association of British Insurers (ABI) has been attacked by Nucleus Financial Group for viewing IFAs as merely product distributors.

CHRIS Cummings, director general of AIFA, has taken his demands for a cost-benefit analysis of principles based regulation to the House of Lords.

THE FSA has fined BNP Paribas Private Bank £350,000 for weaknesses in its system and controls that allowed a senior employee to fraudulently transfer £1.4m out of clients' accounts without permission.

BURNS Anderson CEO Mike Hughes has challenged the survival rate of smaller IFA firms claiming the FSA would also prefer to ultimately see an end to the smaller adviser.

INVESTMENT firms rushing to comply with MiFID before the November 1 deadline are in danger of exposing themselves to a number of security risks, according to a panel of industry experts.

THE FSCS has opened the floodgates for the 30,000 investors in Exeter Fund Managers' split cap funds to claim compensation after it declared the firm in default.

AIFA has called for National Audit Office (NAO) inspections of the FSA once every two years.

THE FSA has urged businesses from all sections of the distribution chain to attend its retail distribution review conference on June 27.

THE FSA risks undermining its authority and potentially discrediting the move to principles-based regulation if no assessment of the policy's costs versus the benefits is conducted, AIFA chairman John Gummer has told business leaders.