Financial services

The FSA has levied its largest ever fine of £33.32m on J.P. Morgan Securities for client money breaches over a seven-year period.

UBS's Tom Digenan has been increasing his exposure to banks despite his view that the sector will be hit by stricter regulation on capital requirements.

The verdict? It is over for Gordon Brown...

The FSA has fined Credit Suisse £2.5m - reduced to £1.75m due to early settlement - for failing to submit accurate transaction reports.

The adoption of Ucits III by absolute return managers has coincided with a period when confidence in offshore investment funds has never been lower, writes Merchant Capital's George Cadbury.

Cofunds chief executive Brett Williams believes proposed changes to platform remuneration is likely to lead to increased costs and heightened adviser confusion.

The FSA is set to bring in new capital adequacy requirements for platforms, it said today in its platform discussion paper, warning the cost of ongoing business for some players will increase.

The FSA believes there is there is no consumer detriment in allowing advisers who operate under COBS rules to maintain their current commission based charging.

The FSA has indicated it is leaning towards abolishing all payments to platforms from product providers.

The FSA has made a major upward revision of the RDR's costs in its policy statement today.