FSA

Two directors of self-invested personal pension outfit The Freedom SIPP have lost their legal battle to appeal against being banned from acting as trustees by two financial watchdogs.

The Financial Services Authority (FSA) insists that it has reauthorised the vast majority of ex-Honister advisers who applied within its voluntary time frame, despite concerns among some advisers that the process has been slower than promised.

FIVE THINGS

Barclay's former chief executive John Varley is at the centre of the Financial Services Authority's (FSA's) latest investigation into the bank, the Sunday Telegraph reports.

CONDENSED

The Financial Services Authority (FSA) has expressed concerns that an increase in advised sales of investment bonds by life insurance companies may be a sign of a commission grab ahead of the implementation of the Retail Distribution Review (RDR).

The Financial Services Authority (FSA) has expressed concerns that vertically integrated firms may try to skirt around its adviser charging rules set to be introduced following the Retail Distribution Review (RDR).

The Association of Independent Financial Advisers (AIFA) has admitted any proposal in Parliament to reintroduce a 15-year complaints long-stop for financial advisers is unlikely to make it on to the statute books.

The Retail Distribution Review (RDR) has the potential to be the ‘next financial scandal', despite the Financial Services Authority's (FSA) latest attempts to educate consumers about the reforms, campaigner Gina Miller has warned.

The Financial Services Authority (FSA) is urging firms to make sure they have the appropriate controls in place to ensure advisers moving to relationship management or paraplanner roles do not step outside of their regulatory boundaries.