Wealth managers

Consumers who have suffered financial harm will be compensated quicker through the Financial Conduct Authority's (FCA's) enforcement process.

The Financial Conduct Authority (FCA) will likely "go further" than the Financial Services Authority (FSA) in challenging providers on their products' target markets and charges.

The incoming Prudential Regulation Authority (PRA) may impose restrictions on what staff at banks and investment firms can earn if the levels of remuneration pose a threat to the business's health.

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.