FSA

Thousands of Arch cru investors have written to their MPs today accusing Capita of intentionally violating the Financial Services Authority's treating customers fairly (TCF) charter.

The Financial Services Authority (FSA) has fined Credit Suisse £5.95m for systems and controls failings in relation to sales by its private bank of structured capital at risk products (SCARPs).

The MP who this week had his calls for a government inquiry into the controversial £54m Arch cru investors' payment scheme dismissed by the Treasury, has said the fight for answers will continue in the corridors of Westminster.

The chairman of the FSA has suggested Parliament will have to give the Financial Conduct Authority (FCA), one of its successor bodies, even greater powers to protect consumers.

The Treasury has created a steering group tasked with developing a range of simple financial products.

Wrap platforms Ascentric and Transact have criticised the FSA after it requested the wraps provide it with details of hundreds of their customers in order to gauge their views on platform rebates.

The FSA could face legal action for breach of its own rules unless it lifts restrictions on Arch cru investors claims at the Financial Ombudsman Service and launches a public consultation into the amount of redress they should receive.

What price, one price? A neat consumerist or political slogan perhaps, or something rather more serious?

The FSA is to scrutinise the quality of advice given by firms who operate a 'centralised investment proposition' ahead of the implementation of the Retail Distribution Review (RDR).

Adair Turner has spent more than £66,000 in the past 15 months flying around the world as FSA chairman - largely because he never flys any lower than business class.