Financial services

The FSA has fined Integrated Financial Arrangements plc, which offers the Transact platform, £3.5m for failings in relation to its protection of client money over an eight-and-a-half year period.

The government has relaxed the tax rules on Property Authorised Investment Funds (PAIFs) and REITs in a move set to increase the number of these vehicles in the marketplace.

Almost a third of discretionary fund managers (DFM) cannot deal with direct investments into structured products, according to an analysis of the market.

The Financial Services Authority (FSA) is to conduct a review into the sale of unregulated collective investment schemes (UCIS) early next year.

Leading fund managers, including L&G and Jupiter, have stepped up their attack against huge pay rises at the UK's biggest banks.

PLATFORM REBATES

The IMA is changing the name of its Managed sectors to fall into line with the Association of British Insurers (ABI) fund categories.

Our round-up of the Chancellor George Osborne's key points...

The Financial Services Authority (FSA) said it estimates half of all funds held in the UK traded life settlement policy market are in investments which are in "difficulty".

The Financial Services Authority (FSA) has said it plans to ban the sale and promotion of 'toxic' traded life settlement policies because they are high risk and generally unsuitable for the majority of UK retail investors.