Latest publications
Here you will find our latest publications and news from the last ten days.
Latest publication - 3 July
Press release
FSA bans East London mortgage broker for fraud
The Financial Services Authority (FSA) has banned Hornchurch-based mortgage broker Abdul Karim for submitting a mortgage application for himself that was based on false information about his income.
2 July
Press release
The Financial Services Authority (FSA) has announced a new operational structure designed to better align its internal operating model to its core activities of identifying and mitigating risk, supervision and enforcement. The reorganisation also takes account of the changing role of the FSA in respect of international regulatory engagement, macro-prudential analysis and consumer financial education.
Press release
Adam Phillips appointed Chairman of Financial Services Consumer Panel
The Financial Services Authority (FSA) today announced that Adam Phillips has been appointed chairman of the Financial Services Consumer Panel. He has been vice chairman of the Panel since 2005 and acting chairman since December 2008.
Press release
FSA fines director for appointed representative control failings
The Financial Services Authority (FSA) has fined Richard Holmes, a director of insurance broker AIF Limited, £20,020 for control failings in relation to an appointed representative firm (AR).
1 July
Speech
Mortgage market review and regulation of secured lending
By Jon Pain, Managing Director, Retail Markets, FSA at the Association of Finance Brokers
Final notices
Mr Richard Anthony Holmes [PDF]
Monopoly@States Limited [PDF]
Mr Abdul Karim [PDF]
Instrument
FSA interim regime for regulating sale and rent back schemes comes into force on 1 July 2009 [PDF]
Firms that intend to carry on sale and rent back (SRB) activities from 1 July must apply for interim permission. Firms must not undertake SRB activities without permission. We will closely monitor the market and take action where we find firms operating without permission.
30 June
FSA Statement
Update on Keydata Investment Services Ltd
On 8 June the Financial Services Authority (FSA) applied to have Keydata Investment Services Ltd (Keydata) placed into administration on the grounds that it was insolvent.
Press release
FSA chairman tells bankers radical changes in regulation essential
Lord Turner, chairman of the Financial Services Authority (FSA), said today that excellent supervision is a necessary but not sufficient condition for financial stability, warning that unless rules are changed radically, future crises will not be avoided.
Speech
Address to the British Bankers' Association Annual International Banking Conference 2009
By Adair Turner, Chairman, FSA
29 June
Press release
Lord Turner appointed chair of FSB's Standing Committee for Supervisory and Regulatory Co-operation
The Financial Services Authority (FSA) chairman, Adair Turner, has been appointed chairman of the Financial Stability Board's Standing Committee for Supervisory and Regulatory Co-operation.
26 June
Press release
UK short selling disclosure regime extended
The Financial Services Authority (FSA) has today extended, without a time limit, the current disclosure regime for significant net short positions in the stocks of UK financial sector companies due to expire on 30 June.
Policy statement
PS09/10: Extension of the short selling disclosure obligation - Feedback to CP09/15
This Policy Statement reports on the main issues arising from CP09/15 'Extension of the short selling disclosure obligation'. It publishes final text of changes to be made to the Code of Market Conduct.
Press release
FSA bans director for inadequate supervision of his firm
The Financial Services Authority (FSA) has prohibited Simon Robins, Compliance Director of Chase UK Corporation Limited (Chase), for failing to adequately supervise the operations of the firm. As a result of these failings the firm was used by third parties to obtain mortgage applications on a fraudulent basis.
Handbook publications
Handbook Notice 89 [PDF]
Handbook Development (Issue 112) [ PDF ]
25 June
Press release
FSA details the enhanced standards people can expect from all investment advisers
The Financial Services Authority (FSA) has today published proposals to build people’s trust and confidence in the retail investment market.
Consultation paper
CP09/18: Distribution of retail investments: Delivering the RDR
Miscellaneous
Retail Distribution Review proposals: Impact on market structure and competition
Firm behaviour and incremental compliance costs
Estimation of Total Incremental Compliance Costs for RDR Proposals [PDF]
Consumer research
Describing advice services and adviser charging
Final notices
First Trade UK Limited (In Liquidation) [PDF]
Simon Robert Gray [PDF]
24 June
Press release
FSA publishes Annual Report for 2008/09
The Financial Services Authority (FSA) today published its Annual Report for the year 2008/09.
Speech
The future of financial regulation - Insights from a regulator
By Dan Waters, FSA Asset Management Sector Leader, FSA at the International Fund Forum, Monaco
Corporate publication
Final notice
Heritage Finance Limited [PDF]
22 June
Press release
FSA refers firms to enforcement in clampdown on poor mortgage arrears handling
The latest review from the Financial Services Authority (FSA) has found continued weaknesses in the way specialist lending firms and third party administrators are handling mortgage arrears and repossessions.
Speech
Efficient markets and market Regulation
Speech by Verena Ross, Director of Strategy and Risk at the Chartered Financial Analysts Annual Conference.
Final notice
Alan John Lofts trading as Personal Financial Services [PDF]
