FSA

The FSA has banned Hornchurch-based mortgage broker Abdul Karim for submitting a mortgage application for himself that was based on false information about his income.

Wrap provider Novia says the FSA failed to pick up on the lack of transparency in client charges in the platform sector in its recent Consultation Paper.

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The FSA will merge its retail and wholesale supervision departments as part of a wide-range of reforms in October.

It could take five years for IFA firms to overhaul their charging model, leaving them little time to comply with the forthcoming RDR, warns Positive Solutions.

The FSA has fined Richard Holmes, a director of insurance broker AIF Limited, the sum of £20,020 for control failings in relation to an appointed representative firm (AR).

The disclosure requirements proposed for restricted advice in the latest RDR consultation paper need to go further and require firms to use a mandatory form of words in their initial disclosure information, says Skandia.

Northern Rock is expected to heap further embarrassment on the Government next month when it reports losses for the half in excess of £500m, putting it in breach of even specially relaxed regulatory rules, according to The Telegraph.

The UK's protection industry appears to have lost its way in recent years, so now more than ever before, with the economy struggling to get back on its feet, is the time for a turn around. Peter Carvill talks to John Pollock.

The FSA has banned a compliance director at award-winning packager Chase UK Corporation for exposing his firm to fraudulent activity.