Wealth managers

Financial services firms have warned the cost of complying with regulations after the FSA is split next year could rise by 20%, according to a survey by consulting firm Protiviti.

Advisers are finding the rules around the disclosure of charges and services as the most challenging aspect of the Retail Distribution Review (RDR), a survey has suggested.

HSBC is in talks to settle with US regulators over a money laundering investigation, but increased regulatory scrutiny has led to S&P cutting the bank's credit rating.

The successor to Mervyn King will have an "unduly powerful role" thanks to Treasury plans to extend the powers available to the Bank of England (BoE), one of the bank's advisers has warned.

The Financial Services Authority (FSA) believes its proposed rules on the promotion and sales of unregulated collective investment schemes (UCIS) could lead to a reduction in Financial Services Compensation Scheme (FSCS) costs for advisers.

Aberdeen Asset Management has unveiled unbundled share classes across its fund range in preparation for the onset of Retail Distribution Review (RDR) next year.

UCIS

The Financial Services Authority (FSA) has proposed to ban the promotion of unregulated collective investment schemes (UCIS) to the vast majority of retail investors.

Plans to allow the new financial regulator to publish warning notices about enforcement action have been branded as "unjust and dangerous" by a Conservative peer.

US Federal authorities are reportedly investigating RBS over possible dealings with Iran, the latest case of a UK bank coming under scrutiny from US regulators.