A new report by a UK Parliamentary Committee has called for HM Treasury to   devise a new code of practice for tax advisors, which would determine whether   the firms they work for should be given contracts with government, and deal   with potential conflicts of interest between the firms’ role advising government   on legislation and their giving of advice to private clients. . .

http://www.tax-news.com/news/UK_Parliamentary_Committee_Harries_Big_Four____60595.html

The Financial Conduct Authority (FCA) has fined EFG Private Bank Ltd (EFG) £4.2 million for failing to take reasonable care to establish and maintain effective anti-money laundering (AML) controls for high risk customers.  The failings were serious and lasted for more than three years. . .

http://www.fca.org.uk/news/efg-private-bank

The Financial Conduct Authority has published rules to make the way that investors pay for platforms more transparent. In the future, platforms, in both the advised and non-advised market, will not be allowed to be funded by payments (commonly described as ‘rebates’) from product providers.  Instead, a platform service must be paid for by a platform charge which is disclosed to and agreed by the investor. . .

http://www.fca.org.uk/news/platforms-industry

The charges follow searches of addresses occupied by the two men that were conducted by the Financial Services Authority with the assistance of the City of London Police in April and May 2012. Both men were arrested at the time of, or shortly after, the searches being conducted. . .

http://www.fca.org.uk/news/unauthorised-investment-scheme