Financial Conduct Authority

The incoming Prudential Regulation Authority (PRA) may impose restrictions on what staff at banks and investment firms can earn if the levels of remuneration pose a threat to the business's health.

INCENTIVES

The Financial Services Authority (FSA) has warned adviser businesses they risk mis-selling to consumers, even with the abolition of commission, if they remunerate their staff based on the revenues they earn.

The Financial Conduct Authority (FCA) will lay down a marker to the financial services industry by widening the scope of the incoming commission ban on retail investment sales, according to a report in The Independent.

The imminent division of the Financial Services Authority (FSA) into two regulatory bodies presents an opportunity to leave the FSA's "damaged reputation" in the past, its chairman, Adair Turner, said today.

MPs on the Treasury Select Committee (TSC) have once again called for upcoming legislation to give them the power to hold pre-appointment hearings for the chief executive of the Financial Conduct Authority (FCA).

Members of the Treasury Select Committee have published a special report into the government's "defective" banking reforms, according to reports.

The Financial Services Bill has passed through to the House of Lords without any significant amendments affecting financial advisers, including the reintroduction of a long-stop.

The Financial Services Authority (FSA) has told banks the new regulatory system will push them to weed out potentially harmful products and demand they pay particular attention to treating customers fairly.

TWIN PEAKS