News

The FTSE 100 fell almost 1.5% to below 5,900 in midday trade on Thursday as strong growth figures from China prompted monetary tightening concerns.

The IMA is conducting a review of the Absolute Return sector, which may see its name changed and sub-categories introduced.

The FSA admits it is "possible" some of the costs of its professionalism requirements will be passed on to consumers, as it estimates the total one-off charge to advisers of meeting the rules could hit £225m.

The FSA is planning to launch a database to identify "high risk" advisers as it presses ahead with plans to monitor individuals through data collection.

An independent test to establish the knowledge gained by advisers carrying out qualifications gap-fill before 2013 has been ruled out by the FSA.

FSA accredited bodies will be allowed to continue checking a sample of just 10% of advisers' CPD to verify standards of professionalism.

Firms will be obliged to inform the FSA if any of their advisers fall below its competence or ethical standards from July, as the regulator also confirms all retail investment intermediaries must carry a Statement of Professional Standing (SPS).

London's leading share index was down 0.37% at 5954.39 in early trading on Thursday, stemmed by disappointing results from US companies and weakness in Asia.

Incapital Europe is offering three new structured products as it gears up for significant expansion in the UK in 2011.

Just 10% of Personal Finance Society (PFS) members intend to exit the advice market post-RDR, according to the organisation's latest research.