Regulation

The Financial Services Authority (FSA) has proposed a ban for Anthony Verrier, a senior executive at BGC Partners, after deciding he is not a fit and proper person due to concerns over his honesty, integrity and reputation.

Allianz Global Investors has today launched a range of four risk-graded portfolios, the Allianz RiskMaster funds.

The FSA has fined Swiss bank Habib AG Zurich £525,000 for failing to establish and maintain adequate anti-money laundering systems.

FATCA

A group of hedge funds, including those run by Odey Asset Management, had a combined $1bn invested in JP Morgan Chase which suffered a near 10% drop in its share price on Friday.

Standard Life will roll out RDR-friendly charging structures across its key retail product lines this year, in a move which will see the provider pass fund manager rebates back to new clients on its fund supermarket, FundZone.

Bestinvest has undergone a structural review of the business which could result in job losses.

Hargreaves Lansdown has said it "intends" to remain independent after the Retail Distribution Review (RDR).

The Financial Ombudsman Service (FOS) has ruled against an adviser who recommended clients invest in cells of the Stirling Mortimer fund range.

GOODBYE FSA