FSA

The Financial Services Authority (FSA) is readying at least one 'mega fine' in the next three months as figures show it raised significantly less than usual in the first quarter of 2012.

Comparison sites are failing to provide consumers with the best deal and should be strictly regulated, Which? has said.

Prudential has been forced on the defensive over an e-mail sent to thousands of staff in which a senior executive appears to make a series of disparaging remarks about FSA policies.

The FSA is to look into charges levied by UK fund management groups after its head of investments policy queried why they had been rising in recent years.

The FSA has stressed firms need to have robust controls and transparent product approval methods when developing retail structured products.

Investors in stricken life settlements fund ARM Asset Backed Securities (ARM) are believed to be considering a class action lawsuit against the firm for the recovery of their assets.

Former directors of failed banks could be banned from taking lucrative jobs in the City under plans being drawn up by the regulator.

The FSA has confirmed consumers will be able to pay charges direct to an adviser or agree for the provider to pay them from the investment in the post-RDR adviser charging regime.

The Financial Services Authority is to explore changes to the client assets regime in the wake of the Lehman Brothers failure.

SAFETY NET