A former Honister adviser has been jailed for two years and nine months for swindling clients out of £380,000.

The Financial Services Authority has hit the "nuclear option" with its plans to ban the sales of unregulated collective investment schemes (UCIS) to most retail customers, according to a regulatory law expert.

The Financial Services Authority (FSA) believes its proposed rules on the promotion and sales of unregulated collective investment schemes (UCIS) could lead to a reduction in Financial Services Compensation Scheme (FSCS) costs for advisers.

UCIS

The Financial Services Authority (FSA) has proposed to ban the promotion of unregulated collective investment schemes (UCIS) to the vast majority of retail investors.

Succession Group has completed the acquisition of its first five advisory firms, following approval of change in control by the Financial Services Authority.

Plans to allow the new financial regulator to publish warning notices about enforcement action have been branded as "unjust and dangerous" by a Conservative peer.

The Institute of Directors (IoD) has called on George Osborne to do more to cut taxes, reduce red tape and invest in new infrastructure in order to boost economic growth.

A Conservative Peer has criticised fellow politicians for failing to question the Retail Distribution Review (RDR) commission ban and warned of the unintended consequences.

The Financial Services Compensation Scheme (FSCS) has declared 21 investments firms in default, including a number of independent financial advisers and mortgage brokers.