FCA

Financial adviser Richard Bishop has decided to move out of regulated advice and adopt a non-advised model because he said fees and ad-hoc levies have become unmanageable.

The pensions industry needs a single regulator or gaps in scheme governance will harm savers, MPs have said.

The Financial Conduct Authority (FCA) has fined EFG Private Bank (EFG) £4.2m for failing to take reasonable care to establish and maintain effective anti-money laundering (AML) controls for high risk customers.

Only those consumers with a PhD could understand the terms and conditions of payment protection insurance (PPI), according to research carried out by rights group Consumer Focus.

Steve Webb's pot-follows-member pension policy will make it easier for people to manage multiple pension pots but clarification is needed on the role of advice, Aegon has said.

Savers will lose out if structured products continue to be "tarred with the one brush", according to financial adviser Ian Lowes.

Too much regulation - instead of instilling greater trust in the financial services industry - can have the opposite effect, according to Richard Sexton, reputation and policy director at PricewaterhouseCoopers (PwC).

The Financial Conduct Authority (FCA) has intervened in a test case in which the Royal Bank of Scotland (RBS) is accused of mis-selling interest rate swaps.

Steve Bloor of Open Resolution calls for the FCA to stop all the chatter and take some action against banks failing to settle PPI complaints.

The role of advisers must be a key focus for the Office of Fair Trading (OFT) market study into the workplace defined contribution (DC) pension market, according to Aegon.