FSA

Treasury proposals to relax the Financial Services Authority's requirement to consult on rule changes could disadvantage small firms, says the Association of Independent Financial Advisers.

The Association of Independent Financial Advisers (Aifa) is "fiercely opposed" to the Financial Services Authority's (FSA) suggestion it might remove detailed training and competence rules for retail firms.

The removal of detailed rules on training and competence could lead to a fall in professional standards and a lowering of the quality of advice, according to the Securities & Investment Institute (SII).

Detailed rules on training and competence will be removed for wholesale firms from next year while a further review will consider extending the removal to retail firms, the Financial Services Authority (FSA) has confirmed.

Solvency coverage in some life insurance companies remains weak despite regulation by the Financial Services Authority (FSA), according to a report by the International Monetary Fund (IMF).

The Financial Services Authority (FSA) issued final decision notices on Berkley Berry Birch subsidiaries Berkley Independent Advisers and Berkley Berry Noble Financial Planning at noon today.

The Financial Services Authority has barred nine small firms from carrying out regulated business after they failed to submit the Retail Mediation Activities Return (RMAR).

The Financial Services Authority will consult on extending the audit rule waiver for mortgage and general insurance intermediary firms to other small firms next month, as well as push the DTI to make the necessary changes too.

The Association of Mortgage Intermediaries has launched a web page for members providing information on equity release products and a "good practice" factsheet.

The majority of IFAs will not be affected by the Capital Requirements Directive (CRD) when it comes into force in January 2007, according to the Financial Services Authority (FSA).