FSA

The Guernsey Financial Services Commission has issued a consultation on proposals to extend its enforcement powers to bring it in line with other regulatory bodies such as the UK's Financial Services Authority.

IFA firm Sesame has been fined £330,000 by the FSA for failing to treat its customers fairly by inadequately handling complaints concerning Structured Capital At Risk Products, or precipice bonds.

Small adviser firms are failing to act on the regulatory advice given to them by compliance consultants, according to evidence gathered by the FSA.

The potential risk of mis-selling personal accounts, particularly to women over the age of 45, has been dismissed by the government.

The FSA could force sub-prime mortgage lenders to shut out the very people they were set up to help, according to Reynolds Porter Chamberlain.

It is encouraging that the Competition Commission (CC) has not yet identified any competition concerns in respect of its investigation into the payment protection insurance (PPI) market. It said so in a statement recently, which also laid out the issues...

The Financial Services Authority banned 151 small firms from carrying out regulated activities in 2006/07.

In the absence of the UK Parliament providing pensions news, attention turns to the European Parliament and the Committee of Inquiry into the collapse of Equitable Life.

A draft report criticising the ‘light touch' UK regulatory regime over the Equitable Life collapse is being undermined by a lack of support from Labour Committee members, claims a Conservative MEP.

Initial feedback on the retail distribution review supports a move away from the focus on products towards the range of services which reflect consumer needs, says the FSA.