Wealth managers

Outgoing Financial Services Authority (FSA) chief Hector Sants has claimed the run on Northern Rock could have been avoided if the central bank had taken on board his recommendations.

Jamie Dimon, the CEO of JPMorgan, will today admit London-based traders who cost the bank more than $2bn this year "did not have a requisite understanding of the risks they took".

Advisers with clients in the suspended EEA Life Settlements Fund are to be offered an exit strategy following the Financial Services Authority's (FSA's) decision to ban the asset class for retail investors.

The Financial Services Authority (FSA) has fined investment firm Accendo Markets £56,000 after it failed to ensure its customers were suitable for high-risk products.

The Financial Services Bill has been branded a 'dog's breakfast' by a prominent Labour peer and criticised for being put together too quickly.

The Treasury is under so much pressure it should consider getting funding directly from the financial services industry, former cabinet secretary Gus O'Donnell has said.

The Financial Services Authority (FSA) will release its final consultation paper on the platform market before the Olympics begins, Investment Week understands.

INSYNERGY Investment Management is shutting down its fund range just four years after setting up, as pressure grows in the industry for competitiveness on fees ahead of RDR.

FundsNetwork has fired a warning shot to fund managers, saying any "special deals" struck up with rival platforms will be revealed under the transparency principles underpinning Retail Distribution Review (RDR).

Firms who refer clients to restricted advisers for investment advice will not have their independence threatened after implementation of the Retail Distribution Review (RDR) rules, the FSA has confirmed.