FSA

A City law firm says a judicial review into the legality of forcing existing advisers to sit further qualifications would stand little chance of success after the idea was mooted by lobby group Adviser Alliance.

The FSA has proposed setting the new FSCS deposit compensation limit for investors at £85,000 - but says it may revise this figure if the euro-sterling exchange rate deteriorates.

The FSA today proposes allowing the re-registration of trail commission when a client changes adviser after 2012, subject to the contract between the provider and previous adviser.

The FSA could require firms to inform the regulator if competence and ethics issues arise with their advisers.

Positive Solutions reports pre-tax losses for 2009 in excess of £7m, due largely to a one-off multi-million pound tax hit.

More than half of mortgage loans made between 2005 and 2009 would not have been granted if FSA proposals on responsible lending had already been in place, according to the Council of Mortgage Lenders (CML).

Supermarket giant Tesco's plan to march into the home loans business this autumn is facing a severe delay: the grocer has yet to receive permission from the City watchdog to offer mortgages.

Advisory firms not actively preparing for the RDR will be considered investigation targets by the FSA, warns a City lawyer.

The FSA wrote to ten IFA firms selling Keydata products with serious concerns about the suitability of their advice as early as October 2007, but failed to alert the wider industry or investors.

The FSA has proposed changes to its complaints handling procedure as it reveals pure protection grievances continued to grow in the first half of the year.