FSA

The FSA today arrested five men and one woman, aged between 27 and 34, in connection with an ongoing investigation into suspected organised insider dealing.

A former Morgan Stanley trader has been fined £140,000 by the FSA for ripping off his clients.

Arch Financial Products says it asked the FSA to restrict its ability to manage investments, including the suspended Arch cru range, in a bid to reassure IFAs and investors.

The FSA is considering an RDR-style review of the way mortgage brokers are remunerated, following concerns over commission bias.

The FSA has banned a mortgage broker and fined him £101,279 for submitting a fraudulent mortgage application and for concealing a fraud conviction when applying to the FSA for approval as a director.

There should be a greater level of "productive overlap" between the Bank of England and FSA on financial supervision, according to a Government report on regulatory reform.

Sesame is urging the FSA to conduct a full cost benefit analysis of the RDR, amid fears many adviser businesses will become unprofitable due to the regulatory burden.

The FSA should be broken up to help prevent the kind of failures which led to the credit crunch and global financial crisis, according to AIFA.

Seven people have been arrested on suspicion of boiler room fraud, as part of a joint operation between law enforcement agencies and the FSA.

High staff turnover in offshore firms and inadequate training are increasing the risk of companies becoming the victims of financial crime, according to new findings from the FSA.