Latest publications
Here you will find our latest publications and news from the last ten days.
Latest publication - 25 July
Press release
FSA to simplify guidance on investment disclosure
The Financial Services Authority (FSA) has today confirmed it will further simplify how investment advisers can ensure they provide consumers with clear and simple information about costs and services.
25 July
Policy statement
PS08/07: Simplifying Disclosure: Information about services and costs
Handbook publications
Handbook Development Newsletter (Issue 101) [ PDF ]
Handbook Notice 79 [PDF]
Miscellaneous
A statement regarding terms which use the phrase 'consequential loss' in general insurance contracts [PDF]
We have published a statement regarding terms which use the phrase 'consequential loss' in general insurance contracts. In our view, a term which excludes 'consequential loss' is not written in plain, intelligible language, as it refers to an expression that has a legal meaning. We do not believe that the average consumer would understand the terminology, and therefore what they are not covered for under the policy.
24 July
Press release
Insider dealing: Financial Services Authority prosecutes Mr Malcolm Calvert
Mr Malcolm Calvert of Cobham, Surrey, date of birth 13 October 1944, today appeared at the City of Westminster Magistrates' Court, on charges of insider dealing contrary to section 52 of the Criminal Justice Act 1993.
Speech
CEO's speech at the FSA Annual Public Meeting
Speech by Hector Sants, Chief Executive, FSA at the FSA Annual Public Meeting
23 July
Press release
FSA welcomes Government proposals on credit unions and announces plans to toughen regulatory policy
The Financial Services Authority (FSA) today responded to legislative proposals by the Government designed to remove restrictions on the way credit unions in Great Britain will be able to operate in future.
Press release
The Financial Services Authority (FSA) has fined PMSG Insurance Services Ltd £35,000 for failing to ensure advice given to customers was suitable and for not organising its business responsibly and to properly manage risk.
22 July
Joint supplementary document
Financial stability and depositor protection: special resolution regime [PDF]
A joint supplementary technical document, with H M Treasury and the Bank of England, explaining in greater detail how we propose the Special Resolution Regime (SRR) for failing banks will work, including draft legislative clauses.
21 July
Press release
Financial Services Authority to consult on changes to the Disclosure and Transparency Rules
The Financial Services Authority (FSA) will consult on a proposal that financial institutions in receipt of liquidity support from a central bank will have a legitimate interest for delaying the public disclosure of such support.
Consultation paper
CP08/13: Disclosure of liquidity support
The FSA's Consultation paper 08/13 is entitled 'Disclosure of liquidity support'. It was published in July and the period for consultation responses closes on 30 September 2008.
Press release
The Financial Services Authority (FSA) has imposed a public censure on Mandrake Associates Limited (MAL) for serious failings in the way it handled mortgage endowment complaints. As a result, there was an enhanced risk that endowment mis-selling complaints were either wrongly rejected or delayed.
Press release
FSA grants new waiver to firms on complaints handling
The Financial Services Authority (FSA) today issued a new waiver from its complaints handling rules regarding unauthorised overdraft charges.
18 July
Press release
FSA calls Money Guidance 'summit'
The Financial Services Authority (FSA) is bringing together key people from Government, the financial services industry and voluntary organisations to take forward a large-scale pathfinder for Money Guidance, a service offering free, impartial information and guidance on money matters, in partnership with HM Treasury.
17 July
Final notices
William John Pirie [PDF]
Mandrake Associates Limited [PDF]
16 July
Press release
FSA bans mortgage partners for serious regulatory failures
The Financial Services Authority (FSA) has banned two Wakefield mortgage brokers for failing to meet the standards expected of approved persons in terms of competence and capability.
Newsletter
Capital Markets Bulletin - Issue 3 [PDF]
15 July
Press release
FSA fines a mortgage firm £11,900 and bans adviser in relation to false mortgage applications
The Financial Services Authority (FSA) has fined a Kilmarnock mortgage firm £11,900 for failing to adequately supervise an adviser, resulting in applications containing false and misleading information being submitted to lenders.
Final notices
Tarlochan Singh (trading as Oceans Mortgages) [PDF]
Rainbow Insurance Services Limited [PDF]
Regency Property Solutions Limited [PDF]
Sean Hamilton trading as Hamilton Cars [PDF]
GMC Motors Limited [PDF]
EMC2 Logical Finance Limited [PDF]
Allclear Finance Limited [PDF]
Khalack Mohamad Loothfaully trading as KML Mortgage Investment Co. [PDF]
