Wealth managers

Lloyds Banking Group is being investigated by the Financial Services Authority (FSA) over commission payments on its retail product sales, according to the Financial Times.

The reputation of a newspaper rests, partly, on the timeliness of its coverage. So imagine the damage if its front-page headline tomorrow read: ‘The Titanic has sunk'.

The Financial Services Authority (FSA) has warned adviser businesses they risk mis-selling to consumers, even with the abolition of commission, if they remunerate their staff based on the revenues they earn.

Mark Hoban has been moved across from the Treasury, where he is currently financial secretary, to the Department for Work and Pensions as part of the government reshuffle.

The Financial Conduct Authority (FCA) will lay down a marker to the financial services industry by widening the scope of the incoming commission ban on retail investment sales, according to a report in The Independent.

Barclay's former chief executive John Varley is at the centre of the Financial Services Authority's (FSA's) latest investigation into the bank, the Sunday Telegraph reports.

Fraudsters based in Belgium have used the Financial Services Authority (FSA) register details of a St James's Place partner to dupe consumers.

The government should reconsider its decision not to adopt Vickers report proposals on derivatives and questions now need to be asked over a full split between retail and investment banking, according to the IMA.

Threadneedle is to roll out a range of commission-free share classes across the majority of its fund range, and waive initial charges for advised UK retail investors, as it makes its proposition ready for the post-RDR world.

The Financial Services Authority (FSA) has begun a new phase of its review into wealth management, focusing on client outcomes.