FSA

THE £1m fine meted out to Nationwide by the FSA after a laptop was stolen from an employee's home has rapidly brought the issue of client data protection to advisers' attention.

Over half of respondents to an IFAonline industry straw poll believe claiming for compensation is the client's responsibility and advisers should not have to invite them to claim.

The Financial Services Authority has appointed Mandy Spink as head of mortgages and credit unions in the small firms division.

The Association of British Insurers has warned the Pensions Regulator against overlapping with other organisations such as the Financial Services Authority in its attempt to regulate risks to defined contribution schemes.

A new certificate in equity release from the Chartered Insurance Institute has gained approval from the exam regulator, the Qualifications & Curriculum Authority.

The Financial Services Authority has written to firms urging them to ensure their lifetime mortgage advice meets required standards ahead of another market review in late 2007.

The Markets in Financial Instruments Directive will introduce a "degree of distortion" into the regulator's handbook by placing undue emphasis on certain rules, says the Association of IFAs.

The Financial Services Authority has fined Capital One £175,000 for failing to have adequate systems and controls for selling payment protection insurance and for failing to treat its customers fairly.

The Financial Services Authority has fined Nationwide Building Society £980,000 for not having sufficient controls in place to protect customers from risk after an employee laptop was stolen.

As the Financial Services Authority (FSA) prepares to take on the regulation of personal pensions, including self-invested personal pensions, the lack of applications from providers is causing concerns for some parts of the industry.