Regulation

With the Consumer Insurance act coming into force in March 2013, advisers should ensure their medical assessment approach is compliant and defensible, Morgan Ash has warned.

Keith Churchouse, director of Chapters Financial, plans to launch a simplified advice platform in the New Year after earlier putting the project on hold.

Protection advisers will need to be clear when building simplified advice-style propositions to address basic client needs, an adviser firm has warned.

More than 700,000 people contacted the Money Advice Service (MAS) in the last six months, an increase of 8% compared to last year.

Lloyds Banking Group has earmarked a further £1bn to pay customers who were mis-sold payment protection insurance.

The government has given its backing to the Money Advice Service (MAS), in spite of growing discontent with the industry-funded operation within Westminster.

Financial Ombudsman Service (FOS) chief executive Natalie Ceeney has praised independent financial advisers for their complaints handling, saying they do a better job than larger businesses such as banks.

The British Insurance Brokers' Association (Biba) has visited the Prime Minister's office to raise a number of key broker issues.

Lord Flight has continued his broadsides against the Financial Services Authority (FSA), criticising it for taking a "tough guy, macho" approach to compensate for past failures.

UK GDP rose by 1% in the third quarter of 2012, bringing the UK out of recession with first positive quarter of growth this year and beating analyst forecasts of a 0.6% rise.