under close scrutiny
From next month there will be a new regulator in town, and advisers should expect some differences in approach. Find out how to prepare your firm for the FSA's souped-up successor – the FCA.
Regulation
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FSA probe of non-advice and XO
The FSA has not ruled out using mystery shoppers in its thematic review of execution-only and non-advised services which is planned for the second half of the year, it confirmed.
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reduction in proportion of advisers chartered
New research from Skandia shows three out of four advisers are either chartered, studying towards it or thinking about qualifying in the near future, a drop from the proportion who said the same in September last year.
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arch cru founder Danner escapes fine
Stephen Danner, one of the co-founders of Cru Investment Management has escaped being fined by the FSA due to his “financial position” even as advisers face paying millions in redress for mis-selling the Arch cru funds.
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asset manager majors dont pay cash
It is not surprising companies do not grant access privileges to potential investors of minute amounts of their stock in the same way as they would to one of the “majors” looking to buy 3%, according to IMA director of institutional Guy Sears.
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fsa denies formal responsibility libor
The FSA was too narrowly focused in its handling of Libor related information and the information should have been better managed, its Internal Audit Report on inappropriate Libor submissions concluded.
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ima reveals new boundaries abs ret funds
The IMA has finally revealed the outcome of its Absolute Return Sector review which has been ongoing since the start of last year, with outcomes falling short of what many had hoped for.
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Temporary short sell ban
The FSA has issued a temporary short sell ban on Italian bank shares following a decision to do the same by the Italian Competent Authority (Consob).
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treasury demands more from tucker
The Bank of England’s deputy governor, Paul Tucker, has tabled the use of negative interest rates as a potential monetary policy, prompting the Treasury Select Committee to ask for a further explanation.
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Unfair investment terms re-written
The FSA has demanded terms and conditions across a range of structured products be amended, branding them “unfair” and misleading to investors.
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jailed financial advisers showed no remorse
A duo of London-based advisers has been jailed for two years after committing a £145k fraud, HMRC announced today.
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What advisers can gain from aifmd
The implementation of the Alternative Investment Fund Managers Directive (AIFMD) should give advisers greater faith in the robustness of alternative funds.
