FSA

The FSA has introduced a new code of conduct to crack down on market abuse through short selling in companies undertaking rights issues.

A Kent-based financial adviser has pleaded guilty to conning customers out of almost £450,000.

The detrimental impact of the credit crunch on the mortgage advice business may last for 18 months to two years, according to John Gummer MP, chairman of the Association of Mortgage Intermediaries (AMI).

The FSA has fined a Chepstow mortgage broker £10,500 for failures in the sales process he used for self-certification mortgages.

The FSA has banned a Belfast-based mortgage broker, trading as Fast Track Mortgage and Finance Consultants, for his involvement in fraudulent mortgage applications.

The FSA has banned three South London mortgage brokers for submitting false applications, backed by falsified documents.

Mortgage lenders are no more likely to mis-sell to consumers than brokers, FSA chief executive Hector Sants says.

Firms are failing to treat their customers fairly because they have unfair terms in their contacts with consumers, the FSA says.

Scottish Life says only 7% of its new regular premium individual business is written on a commission basis, with the rest fee-based.

The FSA has launched a website designed to help young adults manage their finances.