Wealth managers

Vince Cable has launched another broadside against banks, branding them as ‘anti-business' and slamming them for their "greed and stupidity".

The Financial Services Authority (FSA) has charged a trader with seven offences, including fraud and forgery, relating to an unauthorised investment scheme he operated.

The Financial Services Authority (FSA) and Treasury "seem to be in denial of the pending shambles' caused by the Retail Distribution Review (RDR), Lord Flight has argued.

Old Mutual Wealth - which includes the soon to be rebranded Skandia businesses - is planning to take stakes in adviser firms which become restricted as part of a major change in its business plan post-RDR.

A former security chief at Lloyds Banking Group has been jailed for five years for submitting false invoices to claim payments from the bank.

Connaught Asset Management has entered administration following the suspension of its three unregulated collective investment schemes (UCISs).

The Association of Independent Financial Advisers (AIFA) is to change its name to the Association of Professional Financial Advisers (APFA).

The FSA has fined an advisory business £58,300 for advising its clients to invest in high risk products which were "clearly" unsuitable.

The former UBS trader accused of losing the bank more than $2bn in unauthorised trades owed money to eight payday loan firms when he was arrested last year, a court heard yesterday.

Few consumers think the Financial Services Authority (FSA) is doing a good job, research from the Association of British Insurers (ABI) suggests.