FSA

Verena Ross, international director of the FSA, is vying to become executive director at the European Securities and Markets Authority (ESMA), according to reports.

The FSA has fined DB Mortgages, part of the Deutsche Bank Group, £840,000 for irresponsible lending practices and unfair treatment of customers in arrears, and secured £1.5m in redress for customers.

A former mortgage broker is taking on the FSA without any legal representation as part of a £1.67m libel claim.

The Treasury has confirmed the RDR will not impact upon the ability of firms based in Europe to advise clients in the UK, although it insists the use of passporting to evade regulation will not be permitted.

A former editor of the Financial Times was today named alongside a professor, a banker and an ex-vice chairman of the Federal Reserve as external members of the interim Financial Policy Committee (FPC).

The government has bowed to industry pressure to make the new Financial Conduct Authority (FCA) more open and accountable to the industry and MPs than its predecessor the FSA.

With some 200 submissions received by the Treasury Select Committee (TSC) this month, the RDR looks far from being a fait accompli.

Jon King discusses the important role independent advice plays in equity release.

The new consumer and markets regulator will be renamed the Financial Conduct Authority (FCA) with a remit to ban retail products and warn investors about pending enforcement actions.

FSA chief executive Hector Sants has rejected any suggestions the regulator should disclose details of bankers' remuneration.