FCA

Mortgage lenders must not rely solely on the Mortgage Market Review's affordability testing to prevent customers falling into arrears, a mortgage servicer has warned.

Following Treasury Select Committee member Andrew Love, calling for Government action on an increasing protection gap in the mortgage sector, protection provider British Money has begun lobbying for an auto-enrolment solution.

The Financial Conduct Authority (FCA) is considering ways it can make it clearer to consumers when they are buying products on a non-advised basis online, as more web-based advice solutions are developed.

The Bank of England (BoE) and Financial Conduct Authority (FCA) have appointed Antony Townsend as Complaints Commissioner, replacing Sir Anthony Holland whose term of office ends this month after almost a decade.

Around three quarters of IFAs plan to stay independent despite a tougher stance from the regulator on the definition of independent advice, according to an industry survey.

The Financial Conduct Authority (FCA) has appointed former chief executive of the Competition Commission (CC) David Saunders as a senior adviser on competition.

Just 18 individuals were fined by the regulator for misconduct, breaches of the rules or failures in their duties in 2013, a fall of 40% from 30 three years' before.

Complaints data published by the FCA has showed 2,479,029 new complaints opened against financial services firms between July and December 2013.

Nearly three quarters of firms are still failing to show clients the true cost of advice, the regulator has found in what it calls a "wake-up call" for the industry which has already put two firms at risk of enforcement action.

Chancellor George Osborne has written to the chairman of the Financial Conduct Authority (FCA) criticising the regulator for its "damaging" behaviour in releasing details of its investigation into insurance policies before a formal announcement.