The man responsible for HSBC's UK retail and commercial banking business has been named as the next chairman of the Financial Services Practitioner Panel (FSPP).

A financial adviser has been jailed for two years after swindling three women, including two elderly aunties, out of £312,000.

The Financial Services Consumer Panel (FSCP) has urged the Money Advice Service (MAS) to expand its offerings and ‘push regulatory boundaries' in order to help to close the advice gap.

A financial adviser who admitted to fraudulently gaining almost £250,000 from clients and an insurer, as well as perverting the course of justice, has been jailed for three-and-a half years.

The regulator has set out the circumstances under which the new Financial Conduct Authority (FCA) will exercise its temporary product intervention powers.

Legal & General (L&G) is anticipating a drop-off in sales through financial advisers over the coming months and into early 2013 as firms concentrate on developing their business models for Retail Distribution Review (RDR) implementation.

The Financial Services Authority (FSA) has confirmed that the 30-month rule applies to most Retail Distribution Review (RDR) activities.

The Financial Services Compensation Scheme (FSCS) has more than doubled the annual levy for financial advisers for 2012/13, largely as a result of known claims relating to Arch Cru and MF Global.

HSBC has confirmed it is to close its tied advice service, with the loss of about 600 jobs, as the bank prepares for life post Retail Distribution Review (RDR).

Consumer group Which? has listed task-based income protection cover and absolute return funds among a list of 'financial products to avoid'.