News

The Financial Services Authority (FSA) has confirmed that the 30-month rule applies to most Retail Distribution Review (RDR) activities.

Lloyds Banking Group has set aside an extra £375m to cater for an influx of compensation claims related to the mis-selling of payment protection insurance (PPI).

The Financial Services Authority (FSA) said it will be on the look-out for firms opting to close down their businesses to avoid paying into a redress scheme for Arch Cru investors.

The faster resolution of income protection (IP) claims has been put forward as one way to increase take-up of the "undersubscribed" products.

A fraudster has been jailed for four and a half years for laundering funds in a £27.5m boiler room scheme.

National IFA AWD Chase de Vere has appointed Cofunds as the main platform provider for its mass-affluent client segment.

Locating the Prudential Regulation Authority (PRA) close to the Bank of England will cost about £1m more a year than keeping it in Canary Wharf.

Advisers may be faced with an extra £33m in Financial Services Compensation Scheme (FSCS) levies as a result of firm failures caused by a proposed £100m FSA Arch Cru redress scheme.

The vast majority of advisers who risk-rated the Arch Cru funds ranked them as either low, low-to-medium or medium risk investments, FSA figures suggest.

National advisory group, Foster Denovo, has appointed Helen Lovett to the role of chief operating officer.