News

The ongoing compliance costs of the Mortgage Market Review (MMR) proposals will cost the industry anything between £47m and £170m a year, with one-off implementation costs between £40m and £60m, according to the FSA.

This has been a year when some of the most popular emerging market managers paid the price for the breakneck growth of recent years, with investors fleeing to safe havens as equities tanked amid the eurozone debt crisis.

The Financial Services Authority today announced plans to prevent a return of the risky mortgage lending seen in boom times, by proposing what it called "common sense" sales and underwriting standards across the market.

MP David Davis has pressed the Financial Services Authority for an explanation over why it allowed Capita to offer only limited redress to victims of the Arch Cru investment funds scandal.

Ministers are to strip small firms of a longstanding concession which has allowed them to pay capital gains tax - rather than income tax - on the proceeds of the sale of a business.

The FSA today proposes to ban non-advised mortgage sales, although all but the 'vulnerable' or those accessing higher-risk products will be able to opt-out of advice or reject it and proceed on an execution-only basis.

General Practitioners (GPs) who have taken over budgets from Primary Care trusts (PCTs) under NHS reforms are sliding millions into the red.

Education can provide "armour" against financial mismanagement and misleading advertising, MPs said yesterday.

Groupama has suffered a ratings downgrade at the hands of Standard & Poor's despite the France-based insurer announcing a range of key strategic actions designed to halt the recent slide.

The Financial Services Authority (FSA) has banned and fined a former client adviser at UBS AG £150,000 for failing to act with integrity.