FSA

The FSA has warned all parties and shareholders in the propsoed Deutsche Borse takeover of the London Stock Exchange to consider the deal carefully as it could in the long-term affect the regulation of UK shares.

THE FINANCIAL SERVICES AUTHORITY blocked a bid by Equitable Life in 2003 to buy back a much larger proportion of bonds because the FSA feared it would affect the firm solvency, suggests this morning's Daily Telegraph.

The FSA has unveiled plans to review enforcement processes by drawing on evidence from industry firms and asks whether regulatory decisions should be made by individuals separate to investigations.

The FSA has sent letters to executives at key financial services trade bodies to remind firms the acceptance of inducements by intermediaries could be seen as a conflict of interest for consumers.

Final rules affecting consumer rights and provider responsibilities with regard to with-profits policies have been published by the FSA.

The FSA will place particular attention and investment on small firms, such as adviser and intermediary businesses, over the course of the next financial year.

Securities and Investment Institute (SII) chief executive Simon Culhane is expected to argue in a speech to the FSA this evening that mandatory continuous professional development (CPD) should be imposed on the financial services industry.

PII broker PYV has warned depolarisation could unwittingly attract negligence claims for IFAs because of an increased in compliance and risk management requirements.

Sir Christopher Kelly KCB has been appointed as the new chairman of the Board of the Financial Ombudsman Service (FOS), replacing outgoing Sue Slipman.

The FSA has prohibited financial adviser Michael Harding from holding any position as an Approved Person after the FSA discovered he had misled the regulator about completing his firm's Pensions Review and had in fact contacted no clients at all.