FSA

Solicitor Moore Blatch has slammed the FSA for ignoring its calls for investment warnings on all buy-to-let mortgages, warning brokers may now face the threat of litigation as a result.

The FSA needs to do its own work to ensure clients receive good pensions advice following its criticism of adviser firms last week, Skandia says.

The Investment Management Association (IMA) is calling on the FSA to investigate what it calls weaknesses with default arrangements in cash equity markets "as a matter of urgency".

The FSA has frozen the assets of a Northern Ireland-based mortgage broker after he claimed he could not afford to compensate customers.

The FSA has published a consultation paper proposing a far-reaching overhaul of liquidity requirements for banks, building societies and investment firms.

The FSA has issued further clarification on the required standard of price disclosure on the sale of mortgage payment protection insurance (MPPI) on its website, reiterating that disclosure of the monthly premium alone is not sufficient.

London Scottish Bank was placed into administration last night with the FSA announcing it would be prevented from accepting further deposits.

The FSA has written to the chief executives of all mortgage lenders and mortgage administrators giving them until January 31 to ensure that their customers facing arrears are being treated fairly.

Firms providing investment advice will see their minimum capital requirements double to £20,000, the FSA proposes.

The FSA has set out an ambitious implementation plan for its new retail distribution strategy, with all firms expected to be fully compliant by the end of 2012 at the latest.