FSA

Pension providers may have to disclose whether or not they receive commission or interest on cash accounts held in their SIPPs, according to an FSA consultation paper launched today.

A senior investment banker and former FSA approved person has today been sentenced to three years and four months in custody for insider trading.

Martin Wheatley, the outgoing chief of Hong Kong's financial regulator, will head up the Consumer Protection and Markets Authority (CPMA) when it is spun out of the FSA.

Advisers are at risk of further FSA action as miscommunication between AIFA and the ABI means many are not aware of critical illness (CI) sales guidelines released last year.

The advisory community will pay a smaller proportion of the overall Financial Ombudsman Service (FOS) Levy in 2011/12, although the explosion in PPI cases could cancel out any savings.

The FSA is consulting on exempting Holloway products from RDR fee-based payments, but the devil is in the detail as the exemption would not apply to all products.

The FSA is proposing advice firms contribute 2% less to the regulator's funding next year, a cut of £53 per adviser.

Alan Lakey, founder of IFA lobby group Adviser Alliance, has hit back at comments made by new AIFA director general Stephen Gay on "shouting" anti-RDR pressure groups.

Lloyds Banking Group has been forced to reveal that up to nine of its employees earned more than the £3.4m paid to chief executive Eric Daniels.

Advisers have to look at the long-term market and how to find the best investment solutions for their clients, a process which can no longer ignore structured products.