Wealth managers

GOSLING'S GROUSE

The Financial Services Compensation Scheme (FSCS) is to hit fund managers with a £33m levy to cover a shortfall in its finances after it overcharged some firms.

The Financial Services Authority (FSA) has begun informal discussions with key industry players about a potential ban on all fund commission payments from the start of 2014 for business written on platforms.

Plans to use self-invested personal pension (SIPP) providers' assets under management (AUM) as a factor in determining capital adequacy levels is a mistake, Dentons Pensions has said.

The Financial Services Authority(FSA) is planning to delay the release of the final rules for platforms until early 2013, Investment Week can reveal.

The Solicitors Regulation Authority (SRA) is to recommend that its members are allowed to refer clients to both restricted and independent advisers.

The ‘advice gap' post-Retail Distribution Review (RDR) is a major cause of concern and must be monitored closely by regulators, the Association of British Insurers (ABI) will say later today.

The RDR-induced switch to ‘clean' share classes could help active funds fight back against the shift towards passives, according to new research from wealth manager Equilibrium.

The FSA has issued a public censure against Capita Financial Managers Limited (CFM) for its failings in relation to the CF Arch cru funds between June 2006 and March 2009.

GOSLING'S GROUSE