Financial services

The Financial Services Compensation Scheme (FSCS) has begun proceedings against more than 160 advisory firms it alleges mis-sold Lifemark-backed Keydata products.

A total of 162 firms have been included in proceedings launched by the Financial Services Compensation Scheme to claw back money paid out to investors in Lifemark-backed Keydata products.

The Financial Services Authority (FSA) has been told by a judge that it must destroy privileged attorney-client emails it obtained as part of its investigation into Keydata.

Goldman Sachs has been fined $22m by a US regulator for failing to prevent upcoming research from its analysts being passed on to its top clients.

UCIS

The Financial Services Authority (FSA) is to consult on reducing its projection rates after independent research supported the move.

REGULATION

The Financial Services Authority (FSA) today said it was "time to put right" problems it had identified with advisers switching client investments.

INVESTMENT PROPOSITIONS

The Financial Services Authority (FSA) has expressed concerns about the quality of advice around firms' use of 'centralised' investment solutions after a thematic review flagged widespread failings at some firms.