Wealth managers

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.

Shareholders in Royal Bank of Scotland(RBS) will never recover the money they lost after the lender's collapse more than three years ago, according to the bank's chairman.

The Financial Services Authority (FSA) has proposed a ban for Anthony Verrier, a senior executive at BGC Partners, after deciding he is not a fit and proper person due to concerns over his honesty, integrity and reputation.

Bestinvest has undergone a structural review of the business which could result in job losses.

GOODBYE FSA

A man convicted of insider dealing has been ordered to pay more than half a million pounds in a confiscatatiion order.