FSA

A mortgage adviser has been banned by the regulator for swindling thousands of pounds from clients to pay off debts and then failing to pay the monies back.

The FSA has finalised guidance on how firms should establish the risk a customer is willing to take and put in place a suitable investment selection.

The FSA is mulling increased regulation on exchange-traded products, warning certain ETPs are complex and risky, says David Bower at iShares.

In the latest Mortgage Solutions poll an overwhelming majority of brokers (69%) said they would categorise their business relationship with the Financial Services Authority (FSA) as ‘poor'.

A former Bluefin IFA is being sued for £300,000 by his former employers over claims he poached clients.

UK banks have about £136bn of exposure to crisis-struck Japan, but it is "too soon" to judge the full hit to Britain's financial sector, the FSA says.

Mark Hoban, financial secretary to the Treasury, was today forced to face down challenges by leading insurers who fear the new regulatory regime will be biased towards banking.

A work based assessment RDR qualification with no exam element has been approved by the FSA and will be available to advisers from the end of the month.

An adviser threatened by the FSA for adding a complaints long-stop to his terms of business contracts says Hector Sants' pledge to consider reintroducing the rule was a 'sop' to advisers.

FSA chairman Lord Turner last night said the amount of high quality capital banks should hold as a risk buffer should be double the current requirement.