Wealth managers

The financial services industry faces a new levy as part of plans to provide savers with free independent guidance from the Money Advice Service (MAS) and The Pensions Advisory Service (TPAS) upon retirement, the government has said.

The prospect of a 'regulatory dividend' for advisory firms - proposed by the Association of Professional Financial Advisers (APFA) - has been all but ruled out by the Financial Conduct Authority (FCA).

Financial Services Compensation Scheme (FSCS) chief executive Mark Neale has said next year the service hopes to be able to publish a full account of what it has clawed back from firms who mis-sold Keydata products.

Former government chief whip Andrew Mitchell has invested in a high-profile film financing company considered to be a tax avoidance scheme by HMRC, according to reports.

The Financial Conduct Authority (FCA) is attempting to broker a redress deal for investors in the failed Connaught Series 1 fund.

The Financial Conduct Authority (FCA) has defended the Financial Ombudsman Service (FOS) from allegations of inconsistent case verdicts.

The Financial Conduct Authority (FCA) is consulting on the boundaries between advice and guidance after it found execution-only services have strayed into giving advice.

The FCA's five key tests for investment advice

Advice firms have raised fears over "systemic mis-selling" through simplified advice and said ongoing regulatory uncertainty has stifled market developments, according to the FCA.

The Financial Conduct Authority (FCA) has laid out for firms what it views as the differences between ‘information' and ‘investment advice' - and when information can be advice.