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Redress bill for bank misselling hits £38bn

26 November 2014 9:03 am | By Sam Brodbeck

Report finds ’aggressive sales culture’ will take a generation to unwind. 

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FCA reveals 11% fall in bank adviser numbers

25 November 2014 9:35 am | By Tessa Norman

Number of financial advisers also down slightly since the beginning of the year. 

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Citigroup fined $15m for equity research failings

25 November 2014 8:56 am | By Michael Berry

 The US financial regulator has fined Citigroup $15m for failing to stop equity analysts from telling the public one thing and big clients another.


BoE reveals scope of inquiry after tech failure put mortgages on hold

24 November 2014 3:46 pm | By Tessa Norman

Technical problems meant mortgage transactions were suspended last month. 

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FCA warns of continuing conflicts on in-house investment models

24 November 2014 3:33 pm | By Sam Macdonald

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.

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Labour wants £1bn FCA forex fines to go to NHS

24 November 2014 10:21 am | By Samuel Dale

Earlier this month the FCA made its largest ever fines totalling £1.1bn for forex manipulation.

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Why have internal annuity sales not fallen since the Budget?

21 November 2014 4:50 pm | By Tom Selby

The ABI says while external annuity sales have fallen as a result of the Budget, internal annuity sales remain at similar levels.

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Treasury offers face-to-face HMRC meeting before bank account tax raids

21 November 2014 3:04 pm | By Samuel Dale

Treasury conceds ground after criticism from MPs over scope of powers.

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Pensions regulator shuts down £134m liberation schemes

21 November 2014 2:29 pm | By Samuel Dale

Five pension schemes have been stopped receiving transfers after a High Court battle.


Advisers concerned over profits and rising S166 costs

21 November 2014 1:00 pm | By Tessa Norman

Regulation and PI insurance top worries for advisers, research shows. 

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FOS deputy chief exec Boorman joins peer-to-peer trade body

20 November 2014 2:49 pm | By Tessa Norman

Boorman has left the FOS to join peer-to-peer lending trade body P2PFA. 


UK suffers blow to challenge on EU bonus cap

20 November 2014 11:20 am | By Tessa Norman

EU Court of Justice advocate general has rejected UK legal challenge. 


FCA: Industry does not understand capacity for loss

20 November 2014 9:51 am | By Tessa Norman

Advisers should rely on their own calculations to assess capacity for loss, says FCA. 

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FCA 'naive' to dismiss advisers' FOS concerns

20 November 2014 9:30 am | By Tessa Norman

Advisers have reacted angrily to the FCA’s view that differences between its rules and the FOS are a “myth”. 

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EY to help bring private prosecutions against fraudsters

20 November 2014 8:41 am | By Tessa Norman

Professional services firm tapping into ‘rising demand’ due to stretched police resources. 

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Predicting the future: Can a single investment charge work in practice?

20 November 2014 8:30 am | By Tessa Norman

Following the Consumer Panel’s damning report on fund management costs, is its idea of a single investment charge viable?

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Regulators fine RBS £56m for IT meltdown

20 November 2014 8:24 am | By Tessa Norman

IT failure in 2012 left customers unable to access their accounts for several weeks. 

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Apfa chairman: Industry needs light-touch regulation

19 November 2014 10:12 am | By Tessa Norman

Apfa chairman Lord Deben says he is “amazed” at level of regulation imposed on financial services. 

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FCA: Differences between regulator and FOS are a myth

17 November 2014 2:34 pm | By Tessa Norman

Issue is rooted in perception rather than reality, says FCA’s Rory Percival. 

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Poor controls and dodgy suitability letters: Why FCA fined Chase de Vere £560k over Keydata

17 November 2014 1:01 pm | By Tom Selby

Inadequate research procedures and misleading suitability letters were at the heart of Chase de Vere’s failings in the sale of Keydata products.

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FCA fines Chase de Vere £560k over £50m Keydata investments

17 November 2014 10:45 am | By Tom Selby

Chase de Vere has been hit with a £560,000 FCA fine for failures surrounding the sale of Keydata products.

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Consumer Panel hits out at 'unacceptable' fund management costs

17 November 2014 8:27 am | By Tessa Norman

Panel calling for urgent reform of investment management charges. 

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Investment fraudster ordered to pay £1.5m in compensation

17 November 2014 8:23 am | By Tessa Norman

Former director of an investment firm was jailed in 2010. 

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Tom McPhail, Hargreaves Lansdown

Hargreaves blasts 'patronising' Consumer Panel over non-advised drawdown

14 November 2014 4:01 pm | By Samuel Dale

Consumer Panel member Teresa Fritz said non-advised drawdown is a “big area of concern”.

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FCA says small firms still failing on financial crime rules

14 November 2014 11:16 am | By Sam Macdonald

An FCA review has found many small banks and insurance intermediaries are still failing to effectively managed risks around financial crime.

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Fears grow over holiday pay ruling pensions impact

14 November 2014 11:00 am | By Sam Brodbeck

Variations in scheme rules could open the door to added pension costs.

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FCA chairman: Increase in rules has failed to stem regulatory problems

14 November 2014 10:32 am | By Tessa Norman

John Griffith-Jones says more rules can create greater complexity. 

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Shareholders slam Barclays forex settlement pull-out

14 November 2014 8:40 am | By Sam Macdonald

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.


Payment Systems Regulator sets out plans to regulate £75trn industry

13 November 2014 12:45 pm | By Tessa Norman

Regulator will be fully operational from April. 

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FCA: Advice industry not yet a profession

13 November 2014 11:00 am | By Tessa Norman

Regulator still has concerns over suitability letters, says FCA technical specialist Rory Percival.

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Old Mutual: Blurred lines of advice holding back customer service

13 November 2014 10:33 am | By Tessa Norman

Customer service staff fearful of inadvertently giving advice, says Old Mutual Wealth. 

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Reyker chairman: Industry must stop ripping off consumers

13 November 2014 9:57 am | By Tessa Norman

Reyker has come under fire for its charges since taking over as custodian of Merchant Capital customers. 

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Ex-Whitechurch adviser wins court battle over £37k Keydata claim

13 November 2014 9:30 am | By Tessa Norman

Network failed to recover PI excess costs following FSCS settlement.

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Consumer Panel raises alarm over non-advised drawdown sales

12 November 2014 11:58 am | By Samuel Dale

Consumer Panel turns its focus on to drawdown after hitting out at non-advised annuities.

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Ulster Bank fined £2.7m for 'unacceptable' IT failings

12 November 2014 8:45 am | By Michael Berry

RBS subsidiary Ulster Bank has been fined for IT failings that left 600,000 customers without essential services for a month,


Treasury urges banks to pick up payday loan customers

12 November 2014 8:41 am | By Samuel Dale

The Treasury has written to banks calling on them to help struggling borrowers.

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Banks fined £2bn in global forex probe

12 November 2014 8:32 am | By Samuel Dale

Five banks have been hit with the largest fines ever imposed by the FCA.

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Ex-adviser jailed over £200k fraud

11 November 2014 9:35 am | By Tessa Norman

Former sole director of advice firm sent to prison for two years after pleading guilty to theft and fraud. 

Comments (7)

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FCA caps payday loans at 0.8% per day

11 November 2014 8:52 am | By Samuel Dale

No borrower will pay back more than double what they initially owed under new rules.

Comments (7)


5,000 investors join lawsuit against Lloyds over HBOS deal

10 November 2014 9:30 am | By Tessa Norman

Shareholders claim they were misled into approving HBOS merger. 

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