News

The fraud trial of Allen Stanford has been delayed in the US after a judge heard psychiatric evidence he is suffering from depression.

The Financial Services Compensation Scheme (FSCS) has kicked off its £4m consumer awareness campaign with a plasticine man being decapitated by a bear. Discuss.

Plans to scrap or reform 192 quangos, including the Financial Reporting Council (FRC), the Pensions Ombudsman (PO) and the Pension Protection Fund Ombudsman (PPFO), has been ‘botched' according to MPs.

The Association of Financial Mutuals (AFM) has welcomed the FSA's exemption of Holloway protection products from the Retail Distribution Review (RDR) but said the ‘limited' concession does not go far enough.

The FSA says adviser firms' over reliance on risk profiling and asset allocation tools could lead to serious customer detriment and warns it will take tough action on companies failing in this area.

FSA chairman Adair Turner may ask the government for the power to block hostile buyouts in the banking sector in a bid to prevent aggressive acquisitions from disrupting financial stability.

The government will allow UK banks to pay out billions of pounds in bonuses this year, despite its calls to curb the payments, according to reports.

Martin Wheatley, head of Hong Kong's financial regulatory body, has emerged as a leading candidate to head the Consumer Protection and Markets Authority (CPMA) when it is spun out of the FSA next year, according to reports.

Facebook will disclose extensive financial information or go public by early 2012 following a $2bn private fund-raising which values the social networking site at $50bn, according to people close to the situation.

Skandia has launched a series of online videos designed to help advisers with client segmentation and explain platforms to clients.