FSA

A City lawyer is warning the FSA decision to fine Citigroup for its controversial Eurobond trades leaves financial firms open to the prospect of regulatory action even when no rules have been broken.

Christopher Warren-Smith , litigation partner of Barlow Lyde & Gilbert , warns the FSA ruling on a controversial eurobonds trade by Citigroup means financial institutions have to think carefully about strategy and execution.

Financial advisers, mortgage and general insurance intermediary firms will be required to at least "describe" their ‘treating customers fairly' strategy rather than set it out on paper to meet such requirements, according to the latest FSA paper.

The capital position of with-profits insurers has continued to improve, figures from the Financial Services Authority (FSA) reveal.

The Financial Services Authority is offering around 100 of its 2,350 staff retention bonuses over the next three years in an attempt to prevent them defecting to City firms, says the Guardian .

The FSA's proposal to implement a tougher 'buyer beware' on 'wider range' retail investment products, such has hedge funds and split-capital investment trusts, resurrects questions about the current value of ‘caveat emptor'.

The ABI is claiming its campaign calling for the removal of RU64 has been a key factor in the FSA's decision to consider withdrawal of the rule.

The FSA has launched a consultation paper proposing the RU64 rule on pensions advice should finally be abolished.

The Financial Services Authority is offering voluntary and community organisations a share of at least £100,000 to come up with "original, creative projects" to help consumers become "more capable" with their finances.

THOUSANDS OF Standard Life policyholders could miss out totally on the potential windfalls of demutualisation unless their policy matures after that date, according to this morning's Scotsman .