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Regulation, Training and Competence

FSA fines 5 car dealers £175,000 over PPI

11:42 | 21 Aug 2008 | By Colin McClelland

The Financial Services Authority has fined five car dealerships more than £175,000 in total for putting more than 2,000 customers at risk of buying unsuitable payment protection insurance, but it gave them a 30% discount for co-operating.

Will climate change legislation boost SRI firms?

09:30 | 21 Aug 2008 | By Maryrose Fison

Will green laws make SRI companies more attractive – as asset manager Morley claims?

Prestwood offers free seminar seats to advisers

13:35 | 20 Aug 2008 | By Richard Harris

Software company Prestwood Group is marking the IFP's inaugural Financial Planning Week by offering 50 places to seminars on providing 'joined up' advice.

Industry bodies clear way for qualifications drive

09:30 | 20 Aug 2008 | By Michelle McGagh

Nothing is certain in this world except death and taxes – and that the retail distribution review (RDR) will mean advisers will have to move to an increased level of qualification

Chartered planners urged to be kitemark masters

00:01 | 20 Aug 2008 | By Michelle McGagh

The Chartered Insurance Institute (CII) is calling on chartered financial planners to become assessors of the ISO 22222 kitemark to cope with demand for the new qualification.

Scam 'recovery firms' targeting investors, FSA warns

11:06 | 19 Aug 2008 | By Richard Harris

Investors who bought shares through Pacific Continental Securities are being cold-called by overseas scammers offering to buy shares for a fee, according to complaints received by the regulator.

Networks say sales-advice split is unworkable

09:30 | 19 Aug 2008 | By Michelle McGagh

Networks and adviser support services providers are putting pressure on the Financial Services Authority (FSA) to rethink the division between sales and advice in the retail distribution review (RDR).

Pension scheme accounting standards ‘creaking'

00:01 | 14 Aug 2008 | By Maryrose Fison

Despite an overabundance of regulation over pensions, accounting standards are obscuring consumer choice, says consultant Lane Clark & Peacock.

FSA fines Credit Suisse £5.6m for trading lapses

12:18 | 13 Aug 2008 | By Maryrose Fison

The Financial Services Authority has fined the UK operations of Credit Suisse £5.6 million for failing to conduct its business with due skill, care and diligence after several traders intentionally mis-priced securities.

StanLife: Compulsory diplomas will hurt training

00:01 | 13 Aug 2008 | By Michelle McGagh

The need for all advisers to be trained to diploma-level will stifle on-the-job training and deter potential recruits to the industry, says Standard Life.

CII set to stamp advisers with ISO kitemark

13:26 | 12 Aug 2008 | By Michelle McGagh

The Chartered Insurance Institute has become the first official assessor of the ISO 22222 standard.

Pain's arrival at FSA delays RDR until November

11:22 | 07 Aug 2008 | By Michelle McGagh

The regulator has delayed the retail distribution review final report until November in order to allow new FSA head Jon Pain to familiarise himself with it.

Seager joins Sifa from L&G as development director

00:01 | 05 Aug 2008 | By Richard Harris

David Seager has been appointed to oversee Sifa's member recruitment and relationships with providers as the support group experiences a 'groundswell' of interest from IFAs seeking to capitalise on the Legal Services Act.

FSA says Aviva's reattribution plan looks fair

11:07 | 30 Jul 2008 | By Gavin Lumsden

The Financial Services Authority has given a preliminary assessment of Aviva's £1 billion reattribution offer to policyholders, saying it is fair.

FSA makes eight arrests over insider dealings

14:19 | 29 Jul 2008 | By Michelle McGagh

The regualtor has made eight arrests after a London and South East sting on insider dealing rings.

Accountants’ EDM signals shift to US-style regulation

09:30 | 29 Jul 2008 | By Michelle McGagh

Regulation of financial advice could move towards the US system of legally-bound financial planners if the accountancy trade bodies are successful in creating a legal definition of the term accountant.

FSA replaces Clive Briault but loses Kenmir

16:24 | 28 Jul 2008 | By Michelle McGagh

The regulator has appointed Jon Pain as a replacement for Clive Briault but will lose chief operation officer David Kenmir in the New Year.

Sants weighs RDR as chairmen voice worries

00:01 | 28 Jul 2008 | By Michelle McGagh

FSA chief executive Hector Sants acknowledged the scale of the challenge presented by the retail distribution review as the chairmen of the regulator’s two main panels reiterated their concerns.

FSCS annual report shows scope for big adviser rebates

16:27 | 24 Jul 2008 | By Richard Harris

The Financial Services Compensation Scheme ended the 2007/08 financial year with more than £23 million on its A13 sub-scheme account, suggesting there is plenty of scope for rebates to IFAs.

FSA fines Co Durham mortgage broker £35,000 for putting clients at risk

11:43 | 23 Jul 2008 | By Michelle McGagh

Mortgage broker PMSG has been fined £35,000 by the regulator for putting 620 clients at risk by recommending mortgages they could not afford or did not need.

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