Regulation

L&G Investments is set to merge four funds it formerly managed for Barclays Wealth and Investment Management into existing in-house portfolios.

Lord Adair Turner has said one of the major flaws in the regulatory structure which failed to avert the financial crisis in the UK was the FSA was "asked to do too much".

The FSA should go further in its DFM transparency drive and oblige discretionaries to publish total expense ratios for their portfolios, according to David Tiller, director of strategy & business development at Standard Life Wealth.

Offshore tax havens Guernsey, Jersey and the Isle of Man are working towards an agreement with the US government on FATCA, the incoming regime to prevent tax evasion.

FUNDS ARE NOT SHADOW BANKS

The banning of marketing "packages" between providers and advisory groups would bankrupt most networks and support service providers, Threesixty managing director Phil Young said.

The Financial Services Authority (FSA) is planning to force fund groups to improve risk warnings on absolute return funds next year after warning consumers are in danger of being misled.

The Financial Services Authority (FSA) is consulting on a change to its adviser charging rules to ensure advisory firms do not receive any kick-back payments from discretionary investment managers in exchange for recommending their services.

RBS has suspended a trader for trying to rig the Singapore dollar swap offer rate, according to reports, in the latest case of interest rate benchmark manipulation.

Barclays has restructured its investment banking arm in an effort to cut costs and limit further reputational damage following the LIBOR scandal.