Report finds ’aggressive sales culture’ will take a generation to unwind.
Number of financial advisers also down slightly since the beginning of the year.
The US financial regulator has fined Citigroup $15m for failing to stop equity analysts from telling the public one thing and big clients another.
Technical problems meant mortgage transactions were suspended last month.
A number of wealth management firms and private banks are continuing to fail in monitoring how their in-house investment propositions are being used by clients, an FCA thematic review has found.
Earlier this month the FCA made its largest ever fines totalling £1.1bn for forex manipulation.
The ABI says while external annuity sales have fallen as a result of the Budget, internal annuity sales remain at similar levels.
Treasury conceds ground after criticism from MPs over scope of powers.
Five pension schemes have been stopped receiving transfers after a High Court battle.
Regulation and PI insurance top worries for advisers, research shows.
Boorman has left the FOS to join peer-to-peer lending trade body P2PFA.
EU Court of Justice advocate general has rejected UK legal challenge.
Advisers should rely on their own calculations to assess capacity for loss, says FCA.
Advisers have reacted angrily to the FCA’s view that differences between its rules and the FOS are a “myth”.
Professional services firm tapping into ‘rising demand’ due to stretched police resources.
Following the Consumer Panel’s damning report on fund management costs, is its idea of a single investment charge viable?
IT failure in 2012 left customers unable to access their accounts for several weeks.
Apfa chairman Lord Deben says he is “amazed” at level of regulation imposed on financial services.
Issue is rooted in perception rather than reality, says FCA’s Rory Percival.
Inadequate research procedures and misleading suitability letters were at the heart of Chase de Vere’s failings in the sale of Keydata products.
Chase de Vere has been hit with a £560,000 FCA fine for failures surrounding the sale of Keydata products.
Panel calling for urgent reform of investment management charges.
Former director of an investment firm was jailed in 2010.
Consumer Panel member Teresa Fritz said non-advised drawdown is a “big area of concern”.
An FCA review has found many small banks and insurance intermediaries are still failing to effectively managed risks around financial crime.
Variations in scheme rules could open the door to added pension costs.
John Griffith-Jones says more rules can create greater complexity.
Investors hit out at the bank’s decision to withdraw from a global regulatory settlement in the foreign exchange rate-rigging scandal saying it will damage its share price.
Regulator will be fully operational from April.
Regulator still has concerns over suitability letters, says FCA technical specialist Rory Percival.
Customer service staff fearful of inadvertently giving advice, says Old Mutual Wealth.
Reyker has come under fire for its charges since taking over as custodian of Merchant Capital customers.
Network failed to recover PI excess costs following FSCS settlement.
Consumer Panel turns its focus on to drawdown after hitting out at non-advised annuities.
RBS subsidiary Ulster Bank has been fined for IT failings that left 600,000 customers without essential services for a month,
The Treasury has written to banks calling on them to help struggling borrowers.
Five banks have been hit with the largest fines ever imposed by the FCA.
Former sole director of advice firm sent to prison for two years after pleading guilty to theft and fraud.
No borrower will pay back more than double what they initially owed under new rules.
Shareholders claim they were misled into approving HBOS merger.