FSCS

Industry veteran Ken Davy has demanded answers from the Financial Services Authority (FSA) on why it did not disclose the fact it had ordered changes to Arch Cru marketing materials before the collapse of the investment scheme.

Mark Hoban has admitted there is "no perfect solution" to the funding for the Financial Services Compensation Scheme (FSCS) but insisted it is the industry which should pay for any failures.

INTERIM LEVY

The Financial Services Compensation Scheme (FSCS) says it does not expect any major investment failures in the next financial year after setting another interim levy for financial advisers.

The Financial Services Compensation Scheme (FSCS) has confirmed a £60m interim levy for financial advisers and other investment intermediaries.

The Advertising Standards Authority (ASA) has rejected a complaint that an advert for a claims management firm was misleading, after consumer bodies have warned against the firms.

The Financial Services Compensation Scheme (FSCS) has informed Arch Cru investors that eligible claims for compensation "may exist" against some failed independent financial advisers (IFA).

The Pensions Ombudsman has ruled in favour of Standard Life after an investor complained the commission on his self-invested personal pension (SIPP) was not properly explained to him.

The Financial Services Compensation Scheme (FSCS) is set to deal with thousands of compensation claims related to the collapse of broker MF Global, with more expected.

Advisers are expected to have to pay part of a FSCS compensation bill for the alleged mismanagement of high risk Contract for Difference (CfD) investments which could total £13m.