Regulation

Standard Life has won a legal appeal case brought by professional indemnity insurers over a £100m claim relating to losses arising from its Sterling fund.

The Financial Services Authority (FSA) has moved to ban and fine Arch Financial Products (AFP) directors Robin Farrell and Robert Addison for failings related to the management of the Arch cru fund range.

At a time when many fund groups are consolidating their fund ranges, Baring Asset Management has come to the market with three brand new funds this year.

Although 2013 will be a pivotal year in wealth management as RDR rulings are put in place on 1 January, the past 12 months have also been extremely busy as firms tighten up their business models to meet the deadline.

Senior MPs want to call Hector Sants, the former chief executive of the FSA, before the banking standards commission to explain how he will overhaul Barclays' troubled culture.

HEROES & VILLAINS

The Financial Services Authority (FSA) has been cleared of wrongdoing by the Complaints Commissioner after a consumer complained over its handling of alleged misspelling of an equity release-style scheme.

The Queen has spoken about "lax" City workers and a banking regulator which "did not have the teeth" to intervene as she discussed the causes of the financial crisis during a visit to the Bank of England.

A two-timing investment banker has been jailed for two years and eight months for insider dealing.

Hector Sants, the former chief executive of the Financial Services Authority, has joined Barclays.