FSA

INVESTMENT PROPOSITIONS

The Financial Services Authority (FSA) has expressed concerns about the quality of advice around firms' use of 'centralised' investment solutions after a thematic review flagged widespread failings at some firms.

The Financial Services Authority (FSA) must issue a consultation paper on advisers' use of unregulated collective investment schemes (UCIS) as a matter of urgency, according to financial services consultancy Aim Two Three.

The Financial Services Compensation Scheme (FSCS) is to levy life, pensions and investment advisers for an extra £38m, as it begins making part-payments to Arch cru investors with eligible claims against failed IFAs.

TWIN PEAKS REGULATION

Ian Hannam, the chairman of capital markets at JP Morgan Cazenove, has resigned after the FSA proposed to fine him £450,000 for market abuse.

REGULATION

RBS could start paying dividends to preference shareholders again later this year, which could lead to a £400m capital raising.

GAME Group administrators have announced 333 of its UK shops that are still open have been sold to private investment firm OpCapita.

The FSA's director of supervision at its conduct business unit, Clive Adamson, told an investor in the Arch cru funds that complaining to their IFA was the ‘best course of action' in order to get some form of redress, as the scandal broke in 2009.