News

The FSA has fined Close Investments Ltd £98,000 for failing to properly protect and segregate client money.

The Cautious Managed sector has topped the IMA's best retail sales chart in April for the first time since November 2007.

The FSA has fined investment manager Rowan Dartington & Co £511,000 for failing adequately to protect and segregate client money for more than two years.

Banning referral arrangements between conveyancers and introducers, such as mortgage advisers, is not in consumers' interest, according to a report from the Legal Services Board Consumer Panel.

Financial services firms have to wait on average eight weeks longer for FSA authorization than this time last year, according to City law firm, Reynolds Porter Chamberlain (RPC).

Distribution capabilities will become increasingly important for ETF issuers seeking to attract investors as the market grows, according to industry experts.

Scottish Provident will see the majority of its life cover rates reduce after a repricing.

The FSA has referred PricewaterhouseCoopers (PwC) for investigation after failing to spot "serious" banking failures at J.P.Morgan.

Chris Headdon, the disgraced former chief executive of Equitable Life, is free to return to the City after being banned by the FSA for six years for his part in the insurer's near-collapse.

The move by the FSA to revert back to a more prescriptive form of Training and Competence (TC) rules is a "clear indication" its principles-based approach failed, says the Personal Finance Society (PFS).