Hector Sants, chief executive of the FSA, has urged firms to  embrace the new FSA supervisory approach.

Hector Sants, chief executive of the Financial Services Authority, has announced a ‘twin peaks’ model will operate within the FSA from 2 April.

The Financial Services Compensation Scheme levy for advisers will be £33m during 2012/13.

Almost 10m tax returns were completed by the deadline, according to HM Revenue and Customs.

Costs for the Money Advice Service have almost doubled to £87m after it agreed to take on extra responsibility, according to the Financial Services Authority.

Think-tank the National Institute of Economic and Social Research has forecast the UK economy will contract by 0.1 per cent this year.

Small adviser firms should see no increase in their regulatory fees this year, according to the Financial Services Authority.

Standard Life Investments fund range MyFolio has reached £1bn funds under management after only 16 months.

A series of amendments have been issued by the Department for Work and Pensions ahead of auto-enrolment implementation.

A Legal and General fund has become the largest fund on Nucleus, the adviser-owned wrap platform.