FSA

The FSA has fined Barclays Capital Securities £1.12m for failing to protect and segregate client money held in sterling money market deposits for over eight years.

The recent discussion paper on product intervention is basically a 75-page confession by the FSA of its many failings in the retail market.

The FSA has warned leveraged ETFs could be classed as 'generally unsuitable' for the mainstream retail market, along with complicated structured products and trade life policy investments.

The FSA may extend to other retail markets the practice of requiring advisers to justify recommending a product with higher charges compared to a more basic vehicle.

The FSA has banned five individuals and fined another for failings which led to mortgage fraud.

Sesame Bankhall Group has all but ruled itself out of applying to become an accredited body under the FSA's new professionalism regime.

The FSA has earmarked Keydata-style traded life policies as a product "generally unsuitable for the mainstream retail market".

The FSA is being urged to "communicate in plainer English" after bagging the ‘Kick in the pants' trophy at an awards ceremony hosted by the Plain English Campaign (PEC).

The FSA could force advisers to take further qualifications when they are advising on specific non-mainstream products the regulator fears could lead to poor customer outcomes.

The FSA wants the power to ban financial products, cap prices and add risk warnings to products, in a "radical rethink" of consumer protection rules.