Financial Conduct Authority

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

The Financial Services Authority (FSA) spotted flaws with the Arch Cru marketing literature and ordered changes before the funds' suspension, Treasury financial secretary Mark Hoban has claimed.

The Financial Ombudsman Service (FOS) will drift closer to becoming a regulator under a proposed memorandum of understanding (MoU) with the Financial Conduct Authority (FCA), according to a legal expert.

Andrew Tyrie, the chairman of the Treasury Select Committee, has stepped up his efforts to make the Financial Conduct Authority (FCA) more accountable to Parliament than its predecessor, the Financial Services Authority (FSA).

A shadow minister has claimed the FSA's Treating Customers Fairly (TCF) initiative has failed to adequately protect consumers.