FSA

The FSA is threatening "follow-up action" against an IFA seeking to time-bar client complaints by including a 15-year long-stop in his terms of business (ToB) contracts.

Dominant European bancassurers who hold "considerable" influence over the European Commission (EC) are continuing to lobby against RDR-style changes in Europe.

George Osborne met about 70 staff from the FSA yesterday to discuss Conservative plans for a new regulatory structure for the City.

Advisers today branded proposals to effectively ban self-certification mortgages "inappropriate", saying they will leave the self-employed unable to access the mortgage market.

The FSA has proposed extending its approved persons regime to include individual mortgage advisers in a bid to improve standards and stop rogue employees from moving round the industry.

Santander has revealed its £898m UK Growth and £148m UK Equity Income funds will be two of the first funds from its range it will promote to the IFA market in the first half of next year.

The FSA is being warned to be "especially aware" of firms operating in the restricted advice space using ‘weasel words' to hide their limitations and pass themselves off as independent practitioners.

Developing a simplified advice scheme "as fast as possible" and regulating product design are among five recommendations the Financial Services Consumer Panel (FSCP) says would improve consumer confidence in the industry.

Freedom SIPP has been wound up by the High Court, leaving its clients facing up to £66m in tax charges.

The FSA is happy with the number of registered individuals in the market but wants just a third of the firms, a growing IFA consolidator says.