FSA

The FSA today warned firms to be prepared for extra "short-term costs" arising from an anticipated exodus of advisers in the independent sector.

The FSA today clarified firms will still be able to call themselves independent even if they specialise only in a "narrow and distinct" field.

Incorporating life cover with Personal Accounts would cut an estimated £2.3trn protection gap by 20% in one fell swoop, Friends Provident CEO Trevor Matthews says.

The FSA has said it would support whistleblowers coming forward to report on providers or adviser firms trying to exploit the changes proposed under the RDR.

The number of complaints received by the FSA last year soared 129% on the previous 12 months, the regulator reveals today.

The FSA's annual report has revealed Hector Sants' total remuneration was £623,170 for the year 2008/9, although this was lower than the £661,948 he received in 2007/8.

A culture of racism exists among senior staff at the Financial Services Authority who are described as "untouchable", according to a leaked internal report obtained by the Observer.

Advisers are voicing their frustrations on the way the FSA consults with the industry, just days before the RDR outcome is revealed.

Around 70 smaller SIPP firms are the subject of a thematic review by the FSA, it has been revealed today.

The FSA fails to properly "follow up" on enforcement action it takes against firms, leaving consumers potentially under-compensated, the Financial Services Consumer Panel (FSCP) says.