FSA

Free banking for those in credit is expensive to the financial sector, kills competition and stops new providers setting up, Lord Turner told the Treasury Select Committee yesterday.

Many would find it hard to sympathize with mortgage lenders, but it’s easy to see why the FSA’s CP10/28 might not be much to their taste.

The Consumer Protection and Markets Authority (CPMA) must have more power than its FSA predecessor, including the right to ban particular products, Hector Sants told ministers today.

Dan Waters is to step down from his role as director of conduct risk and asset management sector leader, with Christina Sinclair taking over on an interim basis.

Overseas investment in UK financial services jumped by 2.6% in the first half of 2010, according to IMAS Corporate Advisers.

The RDR is not a 'panacea' for the investment market's problem but it is worth a third of IFAs leaving the industry, FSA chief executive Hector Sants has told ministers.

The majority of advisers are pinning their hopes on the coalition government, rather than the FSA, to improve the financial services sector.

The FSA's consultation paper on the mortgage market review (MMR) does not go far enough to ensure consumers are provided with a full range of equity release options, the Society of Equity Release Advisers (SERA) says.

Our inbox has been filling up thick and fast with your RDR questions for MPs, who will debate the changes on 30 November. But so far they are all from men! Come on women IFAs, make yourselves heard, we know you can.

Since the original Financial Services Act 1985 invented the concept, the word ‘independent’ has become the watchword among financial advisers.