The Chartered Institute for Securities & Investment (CISI) has raised concerns with the FCA at the decision to increase the Financial Ombudsman Service’s (FOS) compensation limit from £150,000 to £350,000, as it may have “serious unintended consequences for its member SMEs”.

The FCA is set to reduce its fees for advisers by 1.1% over the next year although overall costs for advisers could go up, according to its fee proposals published today.

The Financial Services Compensation Scheme (FSCS) has today revealed that former RBS and ABN AMRO executive, Caroline Rainbird, will become its next CEO.

The FCA has welcomed today’s National Audit Office report on protecting consumers.