Wealth managers

The Financial Services Authority (FSA) has issued its joint largest retail fine of £10.5m to Card Protection Plan Limited (CPP) for mis-selling insurance products.

The Financial Services Authority (FSA) has brought cases against Arch Financial Products and the company's chief executive Robin Farrell and chief operating officer Robert Addison.

Victims of Bernard Madoff's Ponzi scheme are set to receive proceeds from a $210m settlement between a Bank of New York Mellon advisory firm subsidiary and US authorities, the New York attorney-general has said.

Wealth manager Ashcourt Rowan has agreed to a fine of £412,000 from the FSA for a number of legacy issues relating to investment suitability in its Savoy business.

DELAYED FLIGHT

J.P. Morgan Asset Management has unveiled a fund of funds range and a set of discretionary portfolios as part of its adviser solutions offering launching next year.

The FSA has written to fund group chief executives outlining concerns over conflicts of interest policies and may take enforcement action after a review of industry practices.

An adviser jailed earlier this year for more than 40 fraud-related offences has been banned by the Financial Services Authority (FSA).

The Financial Conduct Authority (FCA) will be run as a consumer champion and not for the benefit of member firms, according to a leading regulatory lawyer.

The man in charge of ensuring Britain's financial stability has warned MPs current plans to make banks safer do not go far enough, the Independent reports.