FSA

The administrators of structured product providers NDFA and DRL say their priority is to confirm investor funds have been segregated from the firms' business accounts.

The FSA today told company chief executives it remains their responsibility to ensure job candidates for significant roles are "fit and proper", even though it will vet them too.

A web-based complaints management system enabling IFAs of any size to view, track and respond to client grievances or feedback has been launched.

FSA intervention in the mortgage sector in the near future could deliver the wrong outcomes for consumers as the market is still not functioning normally, the CML warns.

Kay Blair has been appointed vice chair of the Financial Services Consumer Panel (FSCP) in one of four changes announced today.

The multibillion-pound self-certification mortgage industry, in which customers are not required to provide proof of income, is set to be banned by the financial regulator.

Openwork chief executive Martin Davis says the advice sector is, yet again, in a state of flux.

The FSA has banned East London based mortgage broker, Ayodele Olubunmi Thomas, for knowingly submitting false and misleading information about his income to obtain mortgages and loan advances.

The FSA will continue to tighten financial regulation until the UK banking system becomes more liquid and less leveraged, says FSA managing director Sally Dewer.

Threadneedle is closing its UK Money Securities fund after it experienced huge losses and redemptions since the start of the credit crunch in summer 2007.