Wealth managers

An industry initiative managed by the Tax Incentivised Savings Association (TISA) has called on the regulator to agree on a ‘common sense' standard for the delivery of guidance to consumers.

The Financial Conduct Authority (FCA) is to investigate the activities of the former operators of the Connaught Income Series 1 fund, Capita Financial Managers and Blue Gate Capital.

The government is to force tax avoidance schemes to reveal they are being monitored by HM Revenue & Customs (HMRC) as part of its wider clamp down on tax crime.

A former IFA has been jailed for ten years for defrauding investors of at least £3.5m in what has been branded a "classic Ponzi scheme".

The Upper Tribunal has upheld a Financial Conduct Authority decision to fine a fund manager £89,000 for not doing more to prevent a client from committing market abuse.

Investors are not receiving adequate information on the extent to which funds are being levered up through the use of derivatives, a review by the Financial Conduct Authority (FCA) has found.

HSBC Global Asset Management's chief executive Andy Clark is ruling out introducing preferentially priced share classes, saying they are akin to "endorsements" of individual platforms.

Financial Conduct Authority (FCA) technical specialist Rory Percival has hinted the regulator and ombudsman are working to agree on guidelines around suitability reporting.

Structured product providers must do more to ensure their products are understood by consumers who tend to significantly overestimate the returns on offer, the FCA has said.

Morrisons' former group treasurer has been sentenced to twelve months in prison after being convicted of two counts of insider trading.