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Cost of skilled persons reports hits £145m

29 August 2014 3:34 pm | By Steve Tolley

Though there are fewer S166 reviews under the FCA the average cost has more than quadrupled to £3m.

Andrew Tyrie

Tyrie questions FCA over cost of skilled person reports

29 August 2014 1:23 pm | By Steve Tolley

Treasury select committee chair Andrew Tyrie says he is “particularly concerned” about cost to firms and customers.

Comments (4)

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Cameron: Scottish independence could hit financial services

28 August 2014 10:57 am | By Steve Tolley

Cameron to say 90 per cent of Scottish financial services business with rest of UK is due to the union.

Comments (9)

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BCC says UK GDP to hit 7-year high in 2014

28 August 2014 9:31 am | By Pamela Morris

The British Chamber of Commerce has upgraded its GDP forecast for 2014 to 3.2 per cent up from 3.1 per cent.

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ECB appoints BlackRock to advise on bond-buying

28 August 2014 8:28 am | By Sam Macdonald

BlackRock’s advisory arm will aid the ECB in designing a programme to buy asset-backed securities to ease credit conditions in the eurozone.

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MPs warn HMRC IT shake-up risks 'disaster'

27 August 2014 3:31 pm | By Steve Tolley

Senior MPs warn over plans to break up super computer into as many as 100 parts.

Comments (1)

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Rising house prices trigger boom in 30-year mortgages

26 August 2014 8:53 am | By Devraj Ray

Stricter affordability checks, rising house prices and the prospect of an interest rate rise are leading borrowers to take out longer loans.

Comments (2)

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Salmond: Scotland has '3 plan Bs' for currency

26 August 2014 8:43 am | By Pamela Morris in Edinburgh

Scotland’s first minister insisted the Scottish government has already set out three currency alternatives in the latest live debate with Alistair Darling.

Comments (14)

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Co-op Bank slashes losses to £76m

22 August 2014 8:46 am | By Tessa Norman

Half-year results mark significant improvement on last year’s £845m loss. 

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Govt reviews financial fraud database

21 August 2014 2:50 pm | By Michael Glenister

Counter fraud checking service pools data to allow for fraud checks at product application stage.

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FSCS seeks PR firm for contract worth up to £540k

21 August 2014 10:03 am | By Steve Tolley

FSCS cannot say how much will be paid by advisers.

Comments (20)

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TSC accuses Osborne of withholding info on Co-op/Lloyds bid

21 August 2014 8:46 am | By Tessa Norman

Chancellor refuses repeated requests for information on Project Verde deal. 

Comments (3)

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Ukip sets out tax strategy

21 August 2014 8:36 am | By Natalie Holt

Party has pledged to scrap top rate of income tax and take low earners out of income tax altogether.

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Puppets on a string: Are FCA and Govt dancing to the lobbyists’ tune?

21 August 2014 8:30 am | By Steve Tolley

Financial services lobbyists met with Government and the FCA more than 600 times in 2013. But is this a problem or democracy in action?

Comments (5)

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Banks warn Osborne on HMRC tax grab powers

21 August 2014 | By Tessa Norman

HMRC is not competent enough to be trusted with new powers, says BBA. 

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Govt to toughen up on offshore tax evasion

20 August 2014 11:10 am | By Michael Glenister

Government plans to introduce new criminal offence for failure to declare offshore tax arrangements.

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Big bank and asset management names donate to Scottish referendum campaigns

20 August 2014 10:12 am | By Pamela Morris

Bruno Schroder and Angus Tulloch are amongst senior industry figures to make personal donations to either side of the campaign around Scottish independence.

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Govt decided against further Royal Mail sell-off

20 August 2014 8:58 am | By Sam Macdonald

Business Secretary Vince Cable and his advisors considered the sale of the remaining 30 per cent stake following its listing five months prior.

BoE

Interest rate rise ruled out for 2014

20 August 2014 8:43 am | By Natalie Holt

“Only fly in the ointment” which could prompt a rate increase is house prices.

Comments (2)

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Salmond says sterling could be used as 'transitional' Scottish currency

19 August 2014 11:50 am | By Pamela Morris

Scotland’s first minister remained adamant that sharing the pound in a formal currency union with the UK is still the “best” long-term option for the independent country.

Comments (7)

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Royal London: Govt has 'grossly underestimated' charge cap costs

19 August 2014 8:52 am | By Natalie Holt, Michael Berry

Chief executive Phil Loney puts true cost of charge cap at £1bn.

Comments (1)

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Banks warn Osborne on HMRC tax grab powers

18 August 2014 8:34 am | By Tessa Norman

HMRC not competent enough to seize unpaid tax from bank accounts, says BBA. 

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Apfa: Govt must go further on LTC advice signposting

15 August 2014 12:39 pm | By Steve Tolley

Trade body says councils should tell self-funders regulated advice can lead to better outcomes.

Comments (4)

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LSE appoints Sharon Bowles as non-exec director

15 August 2014 10:57 am | By Pamela Morris

Bowles stepped down from her role as MEP and chair of the Economic and Monetary Affairs Committee back in May 2014.

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Which? calls for national savings strategy

15 August 2014 10:29 am | By Steve Tolley

Consumer group says 24 per cent have no savings at all, putting them at financial risk.

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Bank of England denies Scottish currency talks

15 August 2014 8:45 am | By Natalie Holt

Statement from the Bank challenges Scotland’s finance secretary’s claims over “technical discussions” on a currency union in an independent Scotland.

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Banks seek PRA concessions on ringfencing rules

15 August 2014 8:32 am | By Sam Macdonald

Lenders are in talks around the details of the John Vickers-proposed regime which requires banks to separate retail business and investment banking arm.

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Govt can sue French bank over Northern Rock 'misselling'

14 August 2014 8:26 am | By Tom Selby

The New York Supreme Court has ruled that Northern Rock Asset Management should be allowed to take legal action against Societe Generale.

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BoE: MMR has hit approvals and could have 'persistent' effects

13 August 2014 12:35 pm | By Devraj Ray

Bank’s inflation report shows weaker than expected volume of approvals in Q2.

Comments (1)

BoE

BoE increases UK growth forecast as unemployment falls

13 August 2014 12:19 pm | By Devraj Ray

Bank of England’s inflation report shows unemployment fell to 6.5 per cent in Q2.

Comments (1)

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Govt puts Lloyds sell-off plans on hold

13 August 2014 12:01 pm | By Jon Yarker

Treasury expected to wait until after the general election.

Comments (1)

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Standard Life: Govt IHT disclosure plans will hit advisers

13 August 2014 10:12 am | By Steve Tolley

Insurer says disclosure rules must take into account trusts that are mainly used for asset control, not avoidance.

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RBS pays bosses £3.4m in share allowances

13 August 2014 8:43 am | By Natalie Holt

10 executives have been awarded just under one million in shares, with payments worth up to £533,000.

Comments (2)

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Two thirds of DC schemes say guidance guarantee insufficient

12 August 2014 2:50 pm | By Steve Tolley

62 per cent of schemes say they plan to offer extra support for members.

Comments (2)

BoE

PRA set for oversight of Solvency II capital discounts

12 August 2014 1:22 pm | By Steve Tolley

Government says regulatory oversight necessary because rules allow reduced capital for any liability.

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Tisa director general Tony Vine-Lott exits

12 August 2014 8:54 am | By Tom Selby

Vine-Lott leaves his role with immediate effect after 13 years at the trade body.

BoE

Bank of England warned over inflation risk

11 August 2014 11:08 am | By Steve Tolley

Former MPC member Andrew Sentance warns Bank not to be lulled into a false sense of security over inflation risk.

Comments (3)

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Govt plans IHT trusts crackdown

11 August 2014 8:37 am | By Tom Selby

Government ministers have drawn up plans to clamp down on savers using IHT trusts to reduce their tax burden, The Daily Telegraph reports.

Comments (5)

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AJ Bell calls for capped drawdown to be scrapped

8 August 2014 3:15 pm | By Steve Tolley

AJ Bell chief executive Andy Bell says Govt should go further than current proposals to simplify drawdown.

Comments (1)

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ECB urged to take 'bold action' over deflation risk

8 August 2014 10:54 am | By Steve Tolley

New chair of European Parliament’s Econ committee says “we cannot wait any longer” to deal with deflation risk.

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