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Labour peer writes to FCA chief over Budget guidance qualification concerns

30 July 2014 3:29 pm | By Steve Tolley

Lord Kennedy also asks what regulator will do to stop people using “no limits” guidance to avoid paying for advice.

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ASA bans three more payday loan adverts

30 July 2014 2:17 pm | By Devraj Ray

Four out of seven payday loan adverts reported to the ASA in March have now been banned.

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IMF: BoE will have to hike rates if LTI caps fail to stem house prices

30 July 2014 12:53 pm | By Devraj Ray

IMF report addresses lack of housing supply, which is driving up house prices.

City

FCA and PRA announce clampdown on bankers' bonuses

30 July 2014 10:58 am | By Steve Tolley

Regulators propose allowing clawback even if bonus is spent.

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Labour eyes 15 per cent 'death tax'

30 July 2014 10:44 am | By Michael Glenister

Shadow health secretary says plans being discussed internally.

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Peers told EU-wide misselling redress mechanism needed

29 July 2014 1:31 pm | By Steve Tolley

Parliamentary inquiry into EU regulation told mechanism needed to help deal with “massive” misselling problem.

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Lloyds suspends 7 employees in wake of Libor rigging scandal

29 July 2014 9:01 am | By Devraj Ray

Blackwell has condemned the “truly shocking conduct” displayed by Lloyds employees who rigged key benchmark rates.

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RBS to pay £17m bonus to controversial GRG unit

28 July 2014 8:47 am | By Devraj Ray

Bonuses are being awarded despite the FCA still investigating claims that GRG forced small businesses into default in order to boost profits.

Comments (2)

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Virgin Money completes payment for Northern Rock

25 July 2014 12:11 pm | By Devraj Ray

Lender announces it is creating 200 new jobs as it completes purchase of Northern Rock.

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Standard Life warns of 'conflict and ambiguity' in EU regulation

25 July 2014 11:15 am | By Steve Tolley

Firm warns inconsistencies and clashes in policies will be missed without over-arching reviews.

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RBS posts surprise rise in profits

25 July 2014 8:52 am | By Steve Tolley

But bank warns of hit to future profits from “conduct and litigation issues”.

Guidance cover

Advisers face writing blank cheque to fund Osborne's guidance guarantee

24 July 2014 8:30 am | By Steve Tolley, Tessa Norman

Cost of delivering Chancellor George Osborne’s guidance guarantee could spiral as savers access the service as many times as they like.

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UKIP splits economics brief in reshuffle

23 July 2014 4:47 pm | By Steve Tolley

Steven Woolfe keeps financial services brief while Patrick O’Flynn will lead on economics.

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Govt questioned over Budget guidance qualifications

23 July 2014 9:57 am | By Steve Tolley

Labour peer Lord Kennedy has pressed the Government over what qualifications guides will need.

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Treasury warns providers over 'copycat' guidance schemes

22 July 2014 3:17 pm | By Steve Tolley

Treasury economic secretary Andrea Leadsom says “poor imitations” will not be welcome.

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TSC chair Andrew Tyrie attacks RBS over 'wilfully obtuse' evidence

22 July 2014 1:46 pm | By Steve Tolley

TSC chair Andrew Tyrie says evidence from RBS over its business restructuring division appears “wilfully obtuse”.

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Govt confirms cut in state pension delay incentive

22 July 2014 12:39 pm | By Steve Tolley

Pensions minister Steve Webb confirms annual payment increase of deferred state pensions cut to 5.8 per cent.

Comments (6)

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SFO launches criminal investigation into forex rigging

22 July 2014 8:58 am | By Steve Tolley

Serious Fraud Office launches inquiry into allegations Carney says could be bigger scandal than Libor.

Andrew Tyrie

TSC chair Andrew Tyrie raises concerns over MAS guidance role

21 July 2014 3:34 pm | By Steve Tolley

TSC chair Andrew Tyrie has written to the Chancellor over concerns about MAS’s role in guidance guarantee.

Comments (7)

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Apfa slams FCA move to make advisers fund Budget guidance

21 July 2014 3:14 pm | By Tessa Norman

It is “inappropriate” for advisers to pay for the Budget guidance service, says Apfa

Comments (15)

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FCA: What Budget guidance will look like

21 July 2014 1:55 pm | By Steve Tolley

FCA reveals there will be no limit to how many times savers can use the service in retirement.

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Advisers could pay 30% of guidance costs

21 July 2014 1:23 pm | By Tessa Norman

FCA proposes advisers paying largest proportion of guidance levy. 

Comments (26)

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Treasury reveals tax change plans following Budget pensions overhaul

21 July 2014 1:21 pm | By Tom Selby

Government sets out proposals to amend tax legislation in bid to encourage a wave of product innovation.

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Govt could boost DB flexibility after Budget overhaul

21 July 2014 10:16 am | By Steve Tolley

Government says it will consult on allowing DB scheme members access to funds without need to transfer to DC scheme.

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Govt to mandate advice for DB to DC transfers

21 July 2014 9:32 am | By Steve Tolley

Employers will have to fund advice for transfers within same scheme and ETV exercises.

Comments (3)

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Advisers to pay towards Budget guidance costs

21 July 2014 8:56 am | By Steve Tolley

Guidance guarantee will not be delivered by insurers.

Comments (24)

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Treasury to unveil details of pensions revolution; moves to close tax relief loophole

21 July 2014 8:42 am | By Natalie Holt

Govt set to address concerns over tax-free cash “recycling”.

Comments (2)

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Labour eyes higher regulatory fines for repeat offenders

18 July 2014 12:23 pm | By Steve Tolley

Shadow Treasury financial secretary Cathy Jamieson says party “open” to higher fines for repeat offences and flagrant rule breaking.

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HMRC confirms interim Budget reform rules

18 July 2014 12:07 pm | By Steve Tolley

HMRC guidance gives those taking lump sum before next April extra time to assess options.

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Govt under fire for breaking pensions policy consensus

18 July 2014 8:32 am | By Steve Tolley

Work and Pensions select committee chair Anne Begg says pension freedom agenda undermines consensus.

Comments (1)

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Independent Scotland must align regulator with UK, say economists

17 July 2014 3:23 pm | By Pamela Morris

The report written by Capital Economics for Scottish business group N-56 calls for ”more reassurance” on the framework for financial regulation in the event of Scottish independence.

Comments (1)

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Help to Buy Scotland runs out of funds

17 July 2014 1:40 pm | By Devraj Ray

House builders “frustrated” by the news that no new applications can be accepted until April.

Comments (3)

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Hoban: MAS budget could rise to fund 'Retirement Saver Service'

17 July 2014 1:04 pm | By Steve Tolley

Former Treasury financial secretary Mark Hoban says new service should be “much closer” to regulated advice.

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Anne Begg

Dame Anne Begg: George Osborne's 'advice' pledge 'irresponsible'

17 July 2014 9:48 am | By Steve Tolley

Work and Pensions select committee chair Dame Anne Begg says politicians must not confuse guidance and advice.

Comments (1)

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Scottish independence: The great unknown for financial services

17 July 2014 8:30 am | By Pamela Morris

The latest concern over the future of UK customers on Scottish-based platforms reveals why major uncertainties around independence are not just for financial services north of the border.

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SNP's Stewart Hosie and Labour's Gregg McClymont go head-to-head over Scottish independence

17 July 2014 8:30 am

SNP finance and treasury spokesman Stewart Hosie and Labour shadow pensions minister Gregg McClymont put forward competing arguments for and against a Yes vote.

Andrew Tyrie

TSC chair Andrew Tyrie attacks Lloyds over 'misleading' debt letters

16 July 2014 5:34 pm

TSC chair Andrew Tyrie says letters apparently sent for Bank from law firm seem “calculated to mislead”.

Comments (7)

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House of Lords committee launches inquiry into EU regulation

16 July 2014 12:54 pm | By Steve Tolley

House of Lords inquiry to look at Europe’s new regulatory framework and whether UK has defended its interests.

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Prime Minister upgrades housing minister role

16 July 2014 12:04 pm | By Devraj Ray

But PM falls short of making it a Cabinet position as Brandon Lewis takes hot seat; planning added to housing minister’s brief.

Andrew Tyrie

Tyrie sounds alarm over Bank's capital proposals

16 July 2014 8:20 am | By Steve Tolley

TSC chair Andrew Tyrie says proposal is more complex than expected.

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