FCA

Martin Wheatley, chief executive of the Financial Conduct Authority (FCA) believes the concept of caveat emptor in financial services in "hard to defend".

A survey of 150 investors in properties sold by overseas property agent Harlequin, which is at the centre of a Serious Fraud Office (SFO) investigation, suggests as many as 40% of them have asked for their money back - but only two have received it.

The Financial Conduct Athority (FCA) has axed a proposal to cut the fees advisers pay towards the Money Advice Service (MAS) by 94%, and instead will reduce them by just 42%.

The Financial Conduct Authority (FCA) plans to use the element of financial penalties it retains after passing cash to the Treasury to lessen fees across those it regulates.

The Financial Conduct Authority (FCA) is to conduct a "back to basics" review of fees and segmentation of the industry.

Adviser costs for the Financial Conduct Authority (FCA) have been raised 13% to £41.9m for 2013/14.

London & Colonial has raised concern over the continuing promotion of what it calls "questionable esoteric and overseas property developments" because of a loophole allowing IFAs to move such investments into unregulated environments.

The new City watchdog was last night fighting to defend its chairman amid accusations he enabled HBOS to pursue its reckless lending strategy.

REGULATION

An internal review of advised mortgage cases at Royal Bank of Scotland showed just two out of 91 customers received MCOB-compliant advice.