FSA

The FSA's ‘dawn raid' on the premises of Castlestone Management two weeks ago was a gift to journalists looking for a strong headline.

FSA chief executive Hector Sants insists the regulator is considering the Treasury Select Committee's recommendations on the RDR, following an angry letter from TSC chairman Andrew Tyrie.

The FSA has today executed search warrants on Castlestone Management's premises in London and Chichester, as a fourth member of staff leaves the group.

The IMA is to monitor the holdings of funds in the Money Market sector for the first time, in line with new FSA and European requirements.

The Treasury Select Committee (TSC) has called for a 12 month delay to the RDR to enable more advisers to reach Level 4, among a series of other concessions, but the FSA has flatly refused any negotiation on a change to its plans.

The industry is split on the merits of the Treasury Select Committee's (TSC) key recommendation to delay the RDR for 12 months until 1 January 2014.

Hector Sants, the current chief executive of the Financial Services Authority (FSA), and Bank of England governor Mervyn King have been named among the most influential people in the European capital markets.

The Financial Services Authority has warned investors an unauthorised firm masquerading as Invesco Perpetual is attempting to sell fake funds.

Consumer groups will have the power to insist regulators investigate complaints of mass mis-selling of financial products when the Financial Conduct Authority takes over in 2013, Mark Hoban, financial secretary, will announce today.

The FSA has already decided final rules governing platforms ahead of publication of its policy paper in July and will "not budge" on the proposal to ban cash rebates.