Wealth managers

HSBC has announced it will take responsibility for all customers mis-sold investment products by NHFA, a care fees advice business it acquired in 2005.

The FSA has fined HSBC £10.5m for inappropriate investment advice provided by one of its subsidiaries, NHFA Limited (NHFA), to elderly customers.

PLATFORM REBATES

The Financial Services Authority's report into the collapse of Royal Bank of Scotland will not examine in any detail the role played by Sir Fred Goodwin and Sir Tom McKillop, its two most senior directors.

The Bank of England has warned lenders it is considering changes to the way bonuses are measured to make it far harder for investment bankers to justify their multi-million pound awards.

BIG INTERVIEW

As the deadline to RDR draws ever closer, Legal & General Investments managing director Simon Ellis talks to Kyle Caldwell about plans to expand the group's multi-asset suite and the inevitable rise of outsourcing.

Kyle Caldwell talks to Ian Sayers, the director general of the Association of Investment Companies, about how closed-ended vehicles can fight their way into clients' portfolios after 2012.

Industry figures have told MPs they fear "turf wars" breaking out between different regulatory bodies, and called for the Financial Conduct Authority (FCA) to be more accountable.

Anti-capitalist protesters occupied stock exchanges around the world over the weekend, with sit-ins continuing today as organisers claimed 950 protests have been held in over 80 countries.