Wealth managers

US futures firm MF Global Holding has been ordered to pay $1.2bn (£740m) in restitution to its customers over its collapse.

The number of calls to the Financial Conduct Authority (FCA)'s ‘whistleblower hotline' to report suspected malpractice in the financial services industry has jumped 23% in the last year, according to figures obtained by law firm RPC.

The Financial Ombudsman Service's (FOS) chief ombudsman and chief executive Natalie Ceeney is to step down after four years in office.

The chief executive of the Financial Services Compensation Scheme (FSCS) is "sympathetic" to calculating the scheme's levy based on the risk posed by specific businesses.

The Financial Conduct Authority (FCA) has banned former investment consultant Rahul Shah for encouraging another person to engage in behaviour which, if engaged in by Shah, would amount to market abuse.

The UK arm of international advisory firm deVere Group has been the target of another cloning scam, with perpetrators imitating its advisers and forging business cards to dupe clients, the firm's UK chief has said today.

Staff have been quitting the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) at nearly twice the rate seen prior to the move to split the regulator in to two bodies, reports have claimed.

REGULATION

The Financial Conduct Authority (FCA) is likely to be more ‘intrusive' than its predecessor on the policing of firms' financial promotions and has so far intervened more than 200 times on the issue, according to a consultancy.

The Financial Conduct Authority (FCA) has written to banks urging them to speed up their review of how interest rate hedging products were sold.