Wealth managers

The auditor of the suspended EEA Life Settlements fund has said the portfolio is worth $100m less than the value recorded in the company's financial statements.

A survey of almost 300 Harlequin investors suggests up to 95% were not made aware of the risks of investing in the troubled overseas property company by their agents or advisers.

The European Commission has accused 13 banks, including Barclays, HSBC and the Royal Bank of Scotland, of colluding to hamper competition in the credit derivatives market.

MEET THE GUV'NOR

The Financial Conduct Authority (FCA) has confirmed its levy for the coming year will be £432.1m, with financial advisers contributing 9% of the total.

The former chief executive of collapsed brokerage firm MF Global has been charged with misappropriating about £1bn of client money.

Britain's top bank regulator has called for 'ground rules' on lobbying to prevent it destabilising the financial system.

Henderson has delayed commission payments to over 7,000 advisers for three weeks due to additional checks needed following the RDR.

The Investment Management Association (IMA) is canvassing fund groups on how to counter the "very significant erosion of trust in financial services" amongst consumers, and has proposed introducing a 'statement of principles' for members.

The Financial Conduct Authority (FCA)'s consumer panel has today warned that confusion over the purpose of the key information document (KID) could lead to its early demise.