FSA

The Financial Services Authority (FSA) will decide the fate of the RU64 rule next month when they put their final proposal before the FSA board.

The Association of Independent Financial Advisers (Aifa) has placed its backing behind 'option H' for the future funding of the Financial Ombudsman Service (Fos), as this would in future see very few intermediaries pay case fees.

Proposals for the future funding of the Financial Ombudsman Service (Fos) have been outlined in a joint discussion paper by the Financial Services Authority (FSA) and the Fos.

The All Party Parliamentary Group on Insurance and Financial Services has called for clearer rules on the non-advised selling of Payment Protection Insurance (PPI) and is considering submitting comments to the Office of Fair Trading (OFT).

The Financial Services Authority has dropped the requirement on financial services firms to annually report the roles and responsibilities held by senior managers.

The Financial Services Authority (FSA) has received two accreditation of training excellence awards from the Financial Services Skills Council (FSSC).

Insurance intermediary Besso Limited has been fined £20,000 by the Financial Services Authority (FSA) for failing to apply for an approval of an employee who held a significant management role.

The Financial Services Authority (FSA) has set out plans for the future regulation of Home Reversion plans and Home Purchase plans also known as Islamic mortgages with the date for the introduction of regulation likely to be set for Spring 2007.

Suffolk Life will no longer accept self-invested personal pension business which comes direct from the public.

The Financial Services Authority (FSA) has identified 56 firms that are not complying with their financial resources requirements, with combined financial deficits of £4.3m.