FSA

The FSA today said individuals making personal recommendations to retail clients via a simplified advice process must be qualified to the same minimum standard as those providing full advice.

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

The British Insurance Brokers' Association (Biba) has called on the Chancellor not to raise Insurance Premium Tax (IPT) above its current level of 6% in the upcoming Budget on 21 March.

The Financial Services Authority (FSA) has censured Bank of Scotland for failings within its Corporate Division between January 2006 and December 2008.

The Financial Services Authority (FSA) has proposed a set of rules dictating how firms which sold payment protection insurance (PPI) must contact potential mis-selling victims to inform them of their rights.

A shadow minister has claimed the FSA's Treating Customers Fairly (TCF) initiative has failed to adequately protect consumers.

Greg Becker fears the RDR may worsen consumer detriment as fewer people seek advice.

Which? has urged banks to streamline their payment protection insurance (PPI) claim process or risk exposing customers to claims management companies, after just a quarter of the promised amount of redress was paid out in 2011.

The strain of the payment protection insurance (PPI) mis-selling scandal shows no sign of slowing as figures from the FSA show redress payments surged to a new monthly high in December.

The Financial Services Compensation Scheme (FSCS) is warning consumers against using claims management companies to retrieve money from mis-sold payment protection insurance (PPI).