FSA

The Financial Services Authority (FSA) has issued final guidance for firms using centralised investment propositions (CIPs), pointing out the requirements when outsourcing to a discretionary investment manager (DFM).

The board at Barclays was told in February that the relationship between the bank's senior management and the FSA had "broken down", according to the chairman of the Treasury Select Committee.

The chairman of the Financial Services Authority (FSA) has defended the current system of regulatory fees and levies for small firms, arguing they are proportionate to the size of the firm.

The Financial Services Authority (FSA) has said advisers with Honister Group, which today entered administration, may have to wait a "number of months" before they can be re-authorised.

The imminent division of the Financial Services Authority (FSA) into two regulatory bodies presents an opportunity to leave the FSA's "damaged reputation" in the past, its chairman, Adair Turner, said today.

Barclays boss Bob Diamond has resigned from the bank with immediate effect, just one day ahead of a parliamentary hearing into his conduct following the LIBOR scandal.

Analysts have suggested the fallout from the LIBOR price-fixing scandal may ultimately lead to significant asset disposals or even a break-up of the bank.

The European parliament is set to reject a ban on commission to independent financial advisers (IFAs) when it votes on MiFID II next week.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.

The Financial Services Authority (FSA) will be the biggest winner following the retail distribution review (RDR), according to a survey of 280 advisory firms.