FSA

The Financial Services Authority has fined The Ancient Order of Foresters Friendly Society Limited £55,000 for financial promotions failings in the first enforcement action of its kind.

Securetrade & Title Company Limited has been shut down for assisting unauthorised overseas firms, or ‘boiler rooms', which were unlawfully promoting and selling shares to UK investors.

Financial adviser firms still need to improve their 'treating customers fairly' (Tcf) practices, according to the Financial Services Authority (FSA).

SCOTTISH Widows Bank, the telephone mortgage and savings bank with no branches, has announced record figures for the first half of the year, reports the Scotsman .

The FSA says it may make "substantial changes" to the client remuneration menu and initial disclosure document if a review of the current depolarised regime needs reforms to meet MiFID implementation.

Mortgage intermediaries are split as to whether the Financial Services Authority's move towards principles-based regulation will benefit firms.

The FSA's interpretation of financial promotions regs has apparently taken a turn which runs contrary to the concept of marketing.

Last week's revelation of an IFA firm's difficulties with the Financial Services Authority, caused by a mistakenly-filed RMAR, provoked a flurry of reader responses.

The Financial Services Authority is in the dock again over its treatment of IFAs regarding Retail Mediation Activities Returns as another firm has complained of poor treatment at the hands of the regulator.

The Financial Services Authority has re-opened its consultation paper on Islamic mortgages after it accidentally omitted some of the draft rules from its draft handbook.