FSA

Asset management firms outsourcing parts of their investment process may be abdicating their responsibility to the consumer, according to the Financial Services Authority (FSA).

The Financial Services Authority (FSA) has charged a trader with seven offences, including fraud and forgery, relating to an unauthorised investment scheme he operated.

Venture Capital Trusts (VCTs) are facing the prospect of a steep decline in fundraising if they are not granted an exemption from restrictions on the sales of unregulated collective investment schemes (UCIS).

CONDENSED

IN THE NEWS

The Financial Services Consumer Panel (FSCP) has downplayed prospects of a cap on liability for financial advice, indicating it would strongly oppose any reintroduction of the 15-year long-stop.

The Financial Services Authority (FSA) has again pledged to leave the door open to the possibility of reintroducing a 15-year long-stop on client complaints, though it continues to doubt the benefit of doing so.

The Financial Services Authority (FSA) has fined IFA network Pi Financial £58,300 for advising its clients to invest in high risk products which were "clearly" unsuitable.

HOW WAS IT?

Newly-released documents have revealed the Financial Services Authority (FSA) approved Bob Diamond's appointment as CEO of Barclays, despite concerns about the culture at the firm and the knowledge that the bank may face punishments for LIBOR-fixing....