Wealth managers

The Financial Conduct Authority (FCA) has banned and imposed fines of £28,000 each on two individuals for failings related to the sales of unregulated collective investment schemes (UCIS) to some 800 investors.

The Financial Services Compensation Scheme (FSCS) said it is continuing to receive claims in respect of the CF Arch cru funds, and has put the likelihood of a further interim levy for 2013-14 as ‘medium'.

The Serious Fraud Office (SFO) has charged four men, including an independent financial adviser (IFA), with fraud in connection with the promotion of biofuel investment products through SIPPs to UK investors.

The Treasury is to launch an advertising campaign promoting the Equitable Life compensation scheme after a damning report said its performance had been "unacceptably poor".

The Financial Conduct Authority (FCA) is writing to 11 fund groups this week as part of a thematic review into fund charges.

The number of financial advisers operating in the UK has risen slightly in the first half of the year as intermediaries re-enter the market, according to figures from the Financial Conduct Authority (FCA).

REGULATION

HM Revenue & Customs (HMRC) has defended the publication of a tax evaders 'most wanted' list amid criticism from the Labour Party.

Former Financial Services Authority CEO Sir Hector Sants is to join the board of the British Bankers' Association (BBA) lobbying group, according to reports.

HM Revenue & Customs (HMRC) has added a further ten alleged tax dodgers to its ‘most wanted' list, as the department faced criticism for so far apprehending only one of 20 original fugitives.