Compliance

The number of apprenticeships in the financial services sector has rocketed by 233% in the past year, according to figures from the National Apprenticeship Service.

A former tied adviser who defrauded a friend out of £22,000, pocketing £10,000 for himself, has escaped jail but must repay the money.

The Financial Services Authority (FSA) has called on firms and individuals to tell them about bad behaviour within the marketplace to strengthen the regulator.

Sesame Bankhall Group (SBG) is to raise its adviser charges for firms by more than 50%.

The Chartered Insurance Institute has launched an Insurance Competency Framework enabling businesses and individuals to determine the competencies individuals need to effectively fulfil their job roles.

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.

Proposed changes to the Financial Services Compensation Scheme (FSCS), opening up eligibility to more parties, are likely to lead to increased compensation costs and higher levies.

The Financial Services Authority (FSA) is readying at least one 'mega fine' in the next three months as figures show it raised significantly less than usual in the first quarter of 2012.

The British Insurance Brokers' Association (BIBA) has launched a sanctions checking facility to help members comply with the Terrorism Act and the FSA financial crime requirements.

The British Insurance Brokers' Association (BIBA) is supporting targeted regulation of comparison sites.