FSA

Lord David Lipsey will take over from John Howard as chairman of the Financial Services Consumer Panel on June 2.

The recent £900 000 fine levied on the Thinc Group could pave the way for more claims in the financial services sector, warns Browne Jacobson, the specialist insurance law firm.

John Tiner, former chief executive of the FSA, will join the board of the Financial Services Skills Council (FSSC) it was announced today.

The FSA has fined three mortgage brokers a combined total of over £37,000 for failing to demonstrate that they had recommended affordable mortgages to their clients.

A top cast of European statesmen has issued a blistering denunciation of financial markets and called for a creation of a pan-EU body to protect the citizens against the "social risk" posed by modern capitalism, The Telegraph reports.

The FSA has publicly censured London-based Mortgageland Limited for poor financial promotions, and inadequate sales and record keeping.

The FSA's current response to the issue of dual-pricing in the mortgage market fails to recognise the role and value of advice for consumers, according to the Association of Mortgage Intermediaries (AMI).

Hector Sants, chief executive of the FSA, has responded to mortgage adviser Stuart Duncan's open letter, in which he expressed his concerns about dual-pricing in the mortgage market.

Mortgage brokers and advisers are continuing to support IFAonline.co.uk's campaign for action on dual-pricing, with over 30 detailed responses received so far.

The FSA has called on life offices to ensure their risk management procedures are up to scratch in what it calls a "rapidly changing business environment".