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Steve Tolley Editorial

Euro move may see rating agencies held liable for investor losses

25 May 2012

Rules to allow investors to sue credit-rating agencies for losses resulting from their ratings have moved a step closer.

MPs warn laws for financial directors will create 'litigation mountain'

24 May 2012

The FRC and Sir David Walker have warned MPs that strict liability for directors of financial institutions could lead to increased litigation.

£25m RDR TV campaign needed, says Hobbs

23 May 2012

Lansons’ regulatory head Richard Hobbs says publicity akin to “tell Sid” campaign needed to inform consumers on RDR.

HMRC admits to maths blunders in pension tax guidance

23 May 2012

Department admits it has made a number of mathematical errors in its official guidance on pension tax legislation.

Aegon to delist from London Stock Exchange

23 May 2012

Low trading behind decision to delist from London Stock Exchange in June.

FSA could review SME access to FOS following misselling claims

23 May 2012

Regulator’s review of interest rate swap ’misselling’ could lead to reassessment of FOS eligibility critria, says Lord Turner

King slashes UK growth forecast as the eurozone tears itself apart

24 May 2012

The Bank of England has cut its UK growth forecast for this year from 1.2 per cent to 0.8 per cent, warning the eurozone crisis remains the biggest threat to the recovery.

Spending watchdog warns of £2bn lost on Rocks

24 May 2012

The National Audit Office says taxpayers could lose £2bn once Northern Rock’s assets are wound down.

Tyrie: BoE crisis role needs wider review

22 May 2012

TSC chair Andrew Tyrie says comprehensive review of Bank’s response to the financial crisis should have informed regulatory shake-up.

Labour: More voices needed in a crisis

22 May 2012

Labour amendment to ensure Chancellor is not reliant solely on Bank governor during a crisis to be debated in Parliament.

MPC's Posen to become president of the Peterson Institute

18 May 2012

MPC member Adam Posen will become president at the Peterson Institute for International Economics.

Posen says UK may need more QE

18 May 2012

MPC member Adam Posen says he was “premature” to think current programme is enough

Peer slams FSA's 'loss of proportion' over Solvency II

17 May 2012

Lord Ashton says FSA’s implementation of Solvency II is costing insurers dearly.

Concept says HMRC is singling out Guernsey over Qrops move

17 May 2012

Guernsey Qrops provider Concept Group says HM Revenue & Customs is singling out the jurisdiction after it published a rule that led to over 300 of the island’s Qrops being cut from its list of registered schemes.

Plans go ahead on pensions but LTC is looking sidelined

17 May 2012

The Government will legislate on the structural reform of banks and reforming adult social care and make changes to state and public sector pensions, according to the legislative agenda set out in last week’s Queen’s Speech.

CMC trade body slams calls for tighter regulation

16 May 2012

Claims Standards Council says Which? and MoneySavingExpert.com should be “ashamed of themselves” for “siding with banks”.

Labour demands answers over costs of new regulator's HQ

16 May 2012

Shadow Treasury financial secretary Chris Leslie says ministers must come clean over “ballooning costs” of the regulatory restructure.

'Urgent action' needed over claims firm regulation

14 May 2012

Which?, MoneySavingExpert.com and the British Bankers’ Association write to Justice Secretary calling for better regulation of claims firms.

NAPF: Empower trustees to cut red tape

11 May 2012

NAPF sets out five specific things it wants the Government to address in its pensions Red Tape Challenge.

MPs: Local govt pension schemes should target residential property

11 May 2012

MPs say local government pension schemes should consider investing in residential property to encourage institutional investors to follow suit and boost funding for housebuilding.

Thinktank tells IMA to stop fund labelling after Arch cru debacle

11 May 2012

The Centre for Policy Studies is finalising a report that will call for the IMA to stop labelling funds, claiming it has vested interests.

Advisers press for MPs to widen MAS probe

10 May 2012

Advisers are calling on the Treasury select sub-committee to extend its inquiry into the MAS to include its controversial TV advert and consider whether the service should exist at all.

Lords warn that 70% of transaction taxes will be paid by City of London

10 May 2012

The House of Lords European Union committee has slammed European Commission proposals for a financial transaction tax, saying it has failed to make a case for the levy and warning over 70 per cent of its revenue could come from the City of London.

Osborne to set out bank reform plans

10 May 2012

Chancellor George Osborne will set out plans for structural reform of the banking sector in line with the recommendations of the Independent Commission on Banking in his Mansion House speech next month.

Queen's Speech reveals deficit reduction, banking and pension reform

9 May 2012

The Queen confirms structural reform of banks, state and public pensions to come from Government this year.

Osborne to outline ICB banking reform in June

8 May 2012

Chancellor George Osborne will set out plans for bank reform in Mansion House speech on June 14.

Osborne refuses to back EU bank capital rules

3 May 2012

Chancellor George Osborne says CRD IV is out of line with global standards set in Basel III

Advisers slam Miliband rip-off claims

3 May 2012

Advisers have accused Labour leader Ed Miliband of failing to appreciate the changing marketplace after he called for an end to “rip-off” pension charges.

Leadsom warns of a blind alley with no way out

3 May 2012

Members of the Treasury select committee have warned that not enough is being done to prepare for the unwinding of quantitative easing.

MPs want swap sale probe

3 May 2012

MPs are preparing to file an official request to the Treasury select committee to launch an inquiry into the potential misselling of interest rate swaps.

MPs reveal Money Advice Service probe plans

2 May 2012

Treasury sub-committee has published terms of reference for investigation into Money Advice Service.

Fitch: Solvency II will pull rug from under securitisation recovery

1 May 2012

Ratings Agency warns fledgling recovery will be hit hard by new European capital rules for insurers

Labour wants new Consumer Bill to stop 'rip-off' pension charges

30 Apr 2012

Labour leader Ed Miliband says bill would give FCA power to stop “rip-off” bank and pension surcharges.

Reports suggest Dilnot social care overhaul delayed

30 Apr 2012

Delayed white paper will instead include progress report on cross-party talks over long-term care funding.

MPs raise concerns about unwinding QE

26 Apr 2012

TSC members warn BoE gilt sell-off could hit bond yields and work needs to begin on how QE unwinding will work.

MPs to press for TSC inquiry into interest rate swap 'misselling'

25 Apr 2012

Some 40 MPs are putting their name to official request for committee to investigate interest rate swaps.

Labour mortgage rate warning call voted down

24 Apr 2012

Govt votes down calls for lenders to warn borrowers of possible impact of future interest rate rises on payments

Pension fund FTT carve out 'unlikely', says MEP

23 Apr 2012

Econ committee member Kay Swinburne says MEPs unlikely to back pension fund carve-outs in vote later this week.

£54bn deficit for council pension schemes

19 April 2012

Council pension schemes have a combined deficit of £54bn despite £1 in every £5 of council tax being spent on employer contributions, according to the TaxPayers’ Alliance.

Guernsey hit hard as HMRC chops Qrops

19 April 2012

Guernsey pension providers have hit out after HM Revenue & Customs dropped 309 Qrops from the jurisdiction from its approved provider list.

Financial firms defend contributions to Parliamentary group

16 Apr 2012

Insurers, asset managers and consultancies have defended contributions to an all party Parliamentary group on corporate governance.

HMRC cuts more than 400 Qrops from new register

13 Apr 2012

HMRC’s Qrops crackdown cuts schemes in Isle of Man, New Zealand, Guernsey and Jersey.

Local government pensions schemes have deficit of £54bn, say TPA

13 Apr 2012

TaxPayers’ Alliance and Government says scale of deficit reinforces need for reform.

IMA: Esma ban powers lack accountability

13 Apr 2012

The IMA has warned there is a lack of accountability in the European Commission’s proposals to give the Esma powers to ban products.

MP presses for FOS payout plus cash in court

12 Apr 2012

Mark Field has tabled an amendment which would allow consumers to accept the maximum FOS award and sue for further compensation in court.

Europe 'Catch-22' impasse blocking reforms for FSCS

12 Apr 2012

Experts are warning of long delays in resolving differences on EU compensation scheme proposals.

Author: MPs need new tools to keep policymakers in check

10 Apr 2012

A new book on the Bank of England claims the Treasury select committee does not have the necessary tools to hold the bank to account.

FSA may bypass Europe in FSCS funding review

5 Apr 2012

The FSA says it may push ahead with its review of the FSCS funding model before European directives on compensation schemes are agreed if delays continue.

Labour doubts MoJ is fit to regulate claim-chasers

5 Apr 2012

Labour peer Lord Kennedy says he will ask “fundamental questions” about the regulation of claim management companies.

MPs accuse Treasury of failing on mutuals

05 April 2012

MPs are pressing the Government to set out how it intends to meet the coalition agreement’s commitment to “promote mutuals and foster diversity” in financial services.

Miliband repeats call for pension 'tax break' reversal

4 Apr 2012

Ed Miliband wants tax relief for top rate earners capped, but sums behind £1.6bn saving have been questioned.

AFH Financial buys Arden in £924k deal

3 Apr 2012

AFH Financial will pay £337k up front with £587k dependent on post acquisition performance

PwC and RSM Tenon in row over auditing

2 Apr 2012

Tenon raised “serious concerns” about PwC auditing after due diligence threw up reporting errors, according to reports.

FSA warns over "risk sandwiches" in promotions

30 Mar 2012

FSA guidance on financial promotions warns against separating risks and benefits and focusing on headline charges.

Treasury report admits it was not ready for financial crisis

30 Mar 2012

Treasury was stretched and under-prepared when financial crisis hit and should have brought more staff in.

Finance Bill confirms Budget changes

29 Mar 2012

Bill will put in place changes to taxation announced in last week’s and last year’s Budgets.

Fitch says credit rating won't be hit

29 March 2012

Fitch says last week’s Budget had no impact on the safety of the UK’s AAA credit rating.

Labour wants mortgage indemnity to be widened

29 March 2012

Labour Shadow housing minister Jack Dromey is calling for the Government’s mortgage indemnity scheme to be extended beyond newbuild.

IFS: Stamp duty changes highlight need for property tax rethink

27 Mar 2012

IFS director Paul Johnson tells MPs stamp duty changes add to need for wholesale review of property taxation.

FSA: Failed bank bosses could be banned from top jobs

23 Mar 2012

The regulator’s business plan says it will publish proposals for blocking failed bank director’s taking similar roles.

Budget 12: Thinktank backs Osborne's "granny tax"

22 Mar 2012

IPPR says older people have been sheltered from effects of Government’s austerity drive.

Cost of FSA's budget increase falls on largest firms

22 Mar 2012

The proportion of the FSA’s budget being funded by small firms has fallen by a almost half since 2008/09.

FSA budget to increase by 15%

22 Mar 2012

FSA chief executive Hector Sants says rate of growth cannot continue and commits to proportionate costs.

Budget 12: No impact on rating, says Fitch

22 Mar 2012

Rating agency Fitch says UK remains vulnerable to external shocks and has large challenges compared to AAA peers.

Cable wants shareholders to get the final say on pay

22 March 2012

The Government has proposed giving shareholders a binding vote on executive pay.

Early access to pay for deposit on first home

22 March 2012

The Government should consider allowing people early access to their pension savings to fund deposits for their first home, according to the work and pensions select committee.

'Lack of state pension clarity will hit advice'

22 March 2012

IFAs’ ability to give sound advice on auto-enrolment will be undermined if the Government does not clarify the future of the state pension, says the work and pensions select committee.

Lifting restrictions on Nest could break EU law, says Boulding

22 March 2012

Legal & General pensions strategy director Adrian Boulding says removing restrictions on Nest, as suggested by the work and pensions select committee, could break European Union law.

NAPF says pension funds will not go for 100-year bonds

22 March 2012

The National Association of Pension Funds says the Government’s proposal to launch 100- year bonds is unlikely to be of interest to pension funds, which tend to prefer 30 to 50-year index-linked debt.

Budget 12: 15% stamp duty for £2m homes bought through firms

21 Mar 2012

£1.5bn raised by the levy will part fund quicker rise in personal allowance to £10,000.

Budget 12: OBR nudges up UK growth forecasts

21 Mar 2012

The Office for Budget Responsibility nudges growth forecast for 2012 up to 0.8 per cent and revises borrowing projections downward.

Budget 12: Personal allowance up to £10k by 2014

21 Mar 2012

The tax free personal allowance will rise to £9,205 in April 2013, then £10k a year later - 12 months ahead of plan.

Budget 12: £2m houses face 7 per cent stamp duty

21 Mar 2012

£1.5bn revenue goes to funding quicker rise in personal allowance to £10k by 2014.

Think tank slams "fundamentally flawed" loan guarantee scheme

20 Mar 2012

Institute of Economic Affairs says scheme will not boost lending and risks repeating mistakes in years before crisis.

Top EU tax official presses for EU consensus over FTT

20 Mar 2012

European Commissioner for Taxation Algirdas Semeta dismisses pressure to move ahead with FTT without agreement from all 27 member states

Personal statements will tell taxpayers where their money goes

20 Mar 2012

Chancellor to set out tax and spend personal statements in tomorrow’s Budget, say reports.

Govt to back £20bn of SME lending by banks

20 Mar 2012

Move designed to make it cheaper and easier for banks to get wholesale funding.

Thinktank slams 'dubious' 50p arguments

19 Mar 2012

Social Market Foundation says those campaigning for and against the top rate are putting forward ’dubious’ arguments.

Balls questions independence of HMRC 50p review

19 Mar 2012

Osborne avoided review by independent OBR for political reasons, says shadow Chancellor.

Labour takes aim at Money Advice Service

16 Mar 2012

Shadow Treasury financial secretary Chris Leslie questions high pay, health check and strategy at the Money Advice Service.

HMRC accidentally publishes Qrops guidance

16 Mar 2012

IoM and Guernsey Qrops rules look set for change after HMRC mistakenly publishes guidance on its website.

Chancellor considers scrapping 50 per cent income tax rate

16 Mar 2012

Osborne is considering scrapping the top rate of income tax or reducing it 45 per cent in next week’s Budget, according to reports.

Questions raised over Labour's pension tax relief assumptions

15 Mar 2012

Standard Life head of pensions policy John Lawson says the cost-saving calculations behind Labour’s proposed new pension tax relief restriction are flawed.

Aegon signs auto-enrolment cooperation deal with Nest

15 Mar 2012

Aegon and Nest agree support deal for firms running schemes from both providers.

MPs want Nest restrictions lifted 'urgently'

15 Mar 2012

Work and pensions select committee says remove restrictions so Nest can compete more widely.

MP claims structured ratings were 'a racket'

15 March 2012

Treasury select committee member Jesse Norman says credit ratings agencies and American banks engaged in a “racket” over structured product ratings and made large profits as a result.

Rating firms rail against mechanistic regulation

15 March 2012

Standard & Poor’s, Moody’s and DBRS say they support calls for the removal of regulations that require firms to obtain credit ratings for issuances.

Shareholders could get binding vote on top pay

14 Mar 2012

BIS consults on plans to give shareholders a binding vote over executive pay.

MPs ask Guernsey govt to help keep Arch cru row out of court

13 Mar 2012

MPs meet Guernsey govt representatives after Guernsey-listed vehicles sue Arch cru Financial Products.

Labour calls for new pension tax relief restrictions

13 Mar 2012

Ed Miliband and Ed Balls call for 50p relief rate to be cut to 26 per cent to fund reversing cuts to tax credits

Fears that Europe rating regulation could backfire

9 Mar 2012

The FSA, National Association of Pension Funds and the European Parliament have all raised concerns over the European Commission’s proposals to regulate credit rating agencies and firms’ use of their services.

MP: Minimise regulatory burden on dual firms

8 Mar 2012

SDLP MP says the Financial Services Bill should require regulators to “minimise burdens” on dual regulated firms.

Advisers warn the cash-poor will be hit by mansion tax

8 March 2012

Advisers are warning that the Liberal Democrats’ proposed mansion tax would hit those who are asset-rich but cash-poor and push up rental prices.

Euro co-ordination review plan defeated

8 March 2012

The Government has voted down a proposal that calls for a review of the way UK and European regulators work together during the first 12 months of the new regulatory structure.

Leslie attacks Government refusal to back bid to publish FCA minutes

8 March 2012

Labour Shadow Treasury financial secretary Chris Leslie has attacked the Government’s “nonsense” refusal to back calls to force the Financial Conduct Authority to publish board minutes.

'Selling at a loss reassures markets'

8 March 2012

Bank of England governor Mervyn King has defended moves by banks to sell assets at a loss, saying the sales reduce leverage ratios.

UK's AAA rating move didn't hit

8 March 2012

MPs push Govt for decision on consumer credit regulation

7 Mar 2012

BIS committee chair Adrian Bailey says delay causing “unacceptable” confusion for consumers and industry.

Govt admits it must do more over 'dodgy' claims firms

5 Mar 2012

Justice minister Lord McNally says money set aside by banks for PPI redress encouraging “dodgy practices”.

Labour peer to press for action on CMCs

5 Mar 2012

Lord Kennedy will today call for a crackdown on CMCs who are “ripping people off” by charging up to a third of payouts.

Labour attacks 'nonsense' Govt position on FCA minutes

2 Mar 2012

Shadow Treasury financial secretary Chris Leslie pressures Conservative TSC members to support their own calls.

MP says Budget will close stamp duty loophole

2 Mar 2012

Conservative MP expects the March Budget to close a loophole that allows people to reduce their stamp duty bill by buying a property in a company name.

Labour calls off push for FCA to police professionalism

1 Mar 2012

Treasury financial secretary Chris Leslie’s amendment branded “completely void”.

Customer care rule is not needed, says Aviva

1 March 2012

Aviva says a proposal for the Financial Conduct Authority to ensure that financial firms provide an “appropriate” level of care to consumers is unnecessary.

MP moves for annuity ban to push Omo

1 March 2012

Conservative MP David Mowat has called for the Government to ban providers from selling annuities to their pension customers.

Parliament debates unlimited liability for directors

29 Feb 2012

Parliament set to debate proposals for financial institution directors to face unlimited liability for firm’s losses.

Practitioner Panel warns FCA will be able to ignore it

28 Feb 2012

The Financial Services Practitioner Panel says FCA must retain requirement to explain rejected panel recommendations.

Calls for Royal Commission into BoE's work during crisis

28 Feb 2012

Author of new book into Bank’s role in crisis says Bank executives were “paralysed by dysfunctionality”.

HMRC tightens up oversight of large tax settlement deals

27 Feb 2012

Move comes after MPs criticism of tax deal involving Goldman Sachs which “ripped-off” taxpayer to tune of £10m.

Labour wants FCA to be required to publish minutes

27 Feb 2012

After Govt says publication of minutes is a matter for board, Labour tables financial services bill amendment to make it mandatory.

Labour moves to broaden FPC membership defeated

24 Feb 2012

Amendments to give committee more external members and ensure diversity defeated in Parliament

MP calls for civil servants to give up company tax vehicles

24 Feb 2012

All-party Parliamentary group on taxation chair Ian Liddell-Grainger has called for civil servants who are paid through limited companies to end the practice voluntarily or face the sack.

HMRC to launch 30 tax dodger task forces

23 Feb 2012

Teams to focus on high risk sectors including fashion industry and motor trade.

Aviva says FCA duty of care proposal is "unnecessary"

23 Feb 2012

Insurer says TCF rules and product intervention powers make duty to provide consumers appropriate level of care “unnecessary”.

BoE scrutiny amendment defeated

23 February 2012

A Labour amendment backing the Treasury select committee in a row with the Government over accountability measures at the Bank of England was defeated in Parliament this week.

Lords ready to pass Financial Services Bill, says Newby

23 February 2012

Lord Newby says the Financial Services Bill is unlikely to face any serious political opposition in the House of Lords.

IFS study of US firms links auto-enrolment to contribution fall

22 Feb 2012

The IFS says employees auto-enrolled into pensions are likely to stick to default contribution rates and investment strategies.

Labour: We must pass fiscal credibility test

21 Feb 2012

Shadow chief secretary Rachel Reeves turns on Government’s economic record to reinforce Labour’s new fiscally responsible image.

Govt wants European workers exempt from auto-enrolment

20 Feb 2012

DWP says auto-enrolling staff working in UK for firms based in Europe would be “complex and costly”.

Labour wants new regulator's 'value for money' remit extended

20 Feb 2012

Call for FCA’s competition objective to be extended to consider how consumers can find appropriate value for money products.

Encourage youth to save

16 February 2012

A thinktank wants the Government to come up with ways to encourage young people to save.

MPs press for products that fund LTC costs

16 February 2012

MPs are calling on the Government to create a viable market for financial products that fund long-term care costs in the wake of the Dilnot report.

Treasury sets up group to develop simple products

16 February 2012

The Treasury has set up a steering group to develop simple financial products.

FPC must make sure it is listened to

13 Feb 2012

The Financial Policy Committee must make sure it is not ignored - as it has been by Barclays.

EU mortgage rule vote delayed

10 Feb 2012

ECON committee vote on mortgage credit directive delayed to allow time to build consensus.

Senior Tory's legal warning on regulators

9 Feb 2012

The Financial Services Bill does not give clear legal backing to the regulators’ new judgement-based approach, says Peter Lilley.

Poor pension choices could equate to 5 years of extra contributions

9 Feb 2012

NAPF and PPI report says high charges and poor annuity choices could slash retirement income.

Hoban doesn't see FTT spreading

9 February 2012

Treasury financial secretary Mark Hoban claims France’s commitment to introduce a domestic financial transaction tax does not mean it is inevitable the levy will spread across the eurozone.

Thinktank says 50% tax rate review is too narrow

9 February 2012

HM Revenue & Customs’ review of the 50 per cent tax rate will not be broad enough to properly assess whether to cut the tax or not, according to the Institute for Fiscal Studies.

Simple products steering group starts work

8 Feb 2012

Treasury launches group with task of aiding development of suit of simple financial products

How the Chancellor's new control powers will work

7 Feb 2012

Power depends on Bank informing Chancellor of material risk to public funds - but what if governor and Chancellor disagree, again.

Labour demands greater focus on consumer protection

7 Feb 2012

Labour has called for a raft of changes to the Government’s financial regulation plans before it will back the proposals.

Aifa wants cap on regulatory fees and accountability review

6 Feb 2012

Aifa says large budget increases should be signed off by Treasury.

CII calls for FCA to consider professionalism

6 Feb 2012

The CII is lobbying MPs for FCA objectives to include requirement for professionalism.

Webb: Auto-enrolment review will go ahead in 2017

2 Feb 2012

Pensions minister Steve Webb says the review of auto-enrolment will go ahead in 2017 as planned and is likely to look at more than just restraints on Nest.

'Value for money' FCA

2 Feb 2012

The Financial Conduct Authority is intended be a “value for money” regulator but it will not regulate prices.

ABI criticises PRA power to protect future policyholders

2 February 2012

The Association of British Insurers has criticised the Government’s decision for the Prudential Regulation Authority to protect future policyholders in its insurance objective.

Chancellor can direct BoE in crises

2 February 2012

The Chancellor will have the power to direct the Bank of England during future financial crises, under new proposals.

Government reveals new auto-enrol staging dates

2 February 2012

Delays to the introduction of auto-enrolment will see the scheme fully implemented three years later than originally planned.

Treasury snubs call to publish FCA minutes

2 February 2012

The Government has refused to bow to pressure to take up Lord Turner’s recommendation that the FCA should be required to publish its board minutes.

Miliband accuses Cameron of lack of leadership over top pay

1 Feb 2012

Cameron refuses to action legislation to force banks to publish how many staff earn over £1m.

IFS: HMRC 50p review "too narrow" for proper assessment

1 Feb 2012

The Institute for Fiscal Studies says time should be taken to gather evidence on move.

Tory MEPs turn on Cameron's 'veto'

31 Jan 2012

Conservative MEPs attack ’veto’ which they say turned out to be nothing of the kind.

Tyrie shuns Govt proposals for Bank accountability

27 Jan 2012

TSC chair Andrew Tyrie says internal reviews of policy decisions not good enough without radically reformed Court

FCA and PRA will have single complaints system

27 Jan 2012

Govt accepts criticism dual compaints system will be less transparent and less effective.

Chancellor to direct BoE in a crisis

27 Jan 2012

Role of Chancellor in financial crisis strengthened in financial services bill.

Govt backs calls for EU co-ordination committee

27 Jan 2012

Financial services bill requires committee co-ordinating communication between UK and EU regulators.

FCA will have power to ban products for a year

27 Jan 2012

FCA power to ban or restrict products for up to a year without consultation kept in financial services bill.

MP attacks King and his "debauched" monetary policy

26 Jan 2012

Conservative MP Douglas Carswell says Bank policy helped stoke credit bubble and is failing to deal with fallout from the crisis.

Leadsom calls for TSC to scrutinise Euro regulation

26 Jan 2012

TSC member Andrea Leadsom says the committee should have a stronger role in scrutinising European financial regulation.

MP: Show taxpayers how their money will be spent

26 January 2012

Conservative MP Ben Gummer is calling for the Government to introduce taxpayer statements explaining to people how their taxes will be spent.

Webb looks at lifting Nest constraints

26 January 2012

Pensions minister Steve Webb says he is “reflecting” on whether or not to remove restrictions placed on the national employment Savings Trust.

Wheatley: Bank advisers must do better

25 Jan 2012

FCA chief executive Martin Wheatley says there has been too much bad advice in the past.

As it happened: Webb at work and pensions select committee

25 Jan 2012

Live developments as pensions minister Steve Webb faces the work and pensions select committee over auto-enrolment.

FSA board not culpable over RBS, says Walker

24 Jan 2012

Sir David Walker says FSA was a victim of ’wholly wrong’ mindset that markets had dealt with risk and were rational.

British MEPs stay at top of Econ committee

23 Jan 2012

Lib Dem Sharon Bowles remains chair while Labour MEP Arlene McCarthy stays on as vice-chair.

MPs dismiss Bank's accountability plan

23 Jan 2012

The Treasury select committee says Bank proposals to increase accountability are not enough.

Osborne denies UK damaged by euro treaty snub

20 Jan 2012

Chancellor George Osborne denies that the UK Government’s refusal to back treaty will damage British influence over European financial regulation.

Germany eyes FTT concessions to get UK support

20 Jan 2012

Germany is considering pushing for UK-style share stamp duty in an effort to get tax applied across the EU.

Political pressure grows on pension charges

20 Jan 2012

Parliamentary motion calling for urgent action on charges signed by over 40 MPs

MPs' corporate governance probe will target fund managers

20 Jan 2012

The Treasury select committee will launch an inquiry into corporate governance, part of which will focus on the role of fund managers.

Labour wants FSCS deposit guarantee to apply to brand

19 Jan 2012

Treasury financial secretary Chris Leslie says £85,000 limit should apply to each company not the groups which own them.

Software firms pledge to meet deadline

19 Jan 2012

Software companies designing products to help firms comply with auto-enrolment rules have told The Pensions Regulator they will be ready for the start of the scheme later this year.

Labour calls for retirement income review

19 Jan 2012

Industry experts suggest a Government review of GAD rates could be extended to look at reforming income drawdown rules.

Trade bodies must back up complaints

19 January 2012

The Treasury select committee is calling on trade bodies to be more vocal about problems they see with regulation and to justify any proposed alternatives in terms of benefits to consumers.

Miliband attacks pension and bank charges

18 Jan 2012

Ed Miliband ready to push for charges cap and wants regulator to have power to intervene over bank charges.

Dilnot warns on LTC cap following new Government advice

17 Jan 2012

Andrew Dilnot warns ministers not to go too far.

Clegg: More individuals must have stakes in their firms

16 Jan 2012

Nick Clegg calls for employee right to request shares in their company - EIS extensions being considered.

Hoban warns risk modelling could price out insurance customers

13 Jan 2012

Treasury financial secretary Mark Hoban has warned that new risk modelling techniques could leave some demographic groups unable to afford insurance.

MPs want more accountability from FCA

13 Jan 2012

Treasury select committee report says current proposals do not provide adequate scope for scrutiny and must be improved.

Leading MEP wants impact of transaction tax eased

12 Jan 2012

Sharon Bowles to press for exemptions to mitigate the effect of any planned European transaction tax on investors.

LibDems in warning over Euro budget deficit powers

12 Jan 2012

Any move to give the European Commission powers to take member states to court over budget deficits would be illegal, claim the Liberal Democrats.

Hoban: Insurance regulation will not take back seat

10 Jan 2012

Treasury financial secretary moves to reassure insurers they will not take a back seat to banks in new regulatory set up.

Lagarde: Euro will survive 2012

6 Jan 2012

IMF chief Christine Lagarde backs Greece and says the embattled currency will survive the next 12 months.

Labour peer Lord Glasman turns on Miliband and Balls

5 Jan 2012

Labour’s Lord Glasman slams weak Labour leadership and says 2012 must be a year of surprises from Ed Miliband and Ed Balls.

Who's afraid of the big bad firms?

5 Jan 2012

As Europe still reels from the after shocks of the banking crisis, politicians of all colours are looking to redefine capitalism.

Dilnot encouraged by LTC funding engagement

4 Jan 2012

Labour and Conservatives vow “constructive engagement” over Dilnot Commission’s recommendations.

McClymont: Miliband must avoid Tory 'tax and spend' trap

29 Dec 2011

Ed Miliband must not be seen as the defender of tax and spend to regain credibility.

CIPD: Unemployment set to rise to 2.85m in 2013

28 Dec 2011

Public sector job losses will outstrip private sector growth.

Cameron veto could harm UK financial services influence

15 Dec 2011

Experts warn David Cameron’s decision could reduce the UK’s influence on financial services in Europe.

Drake says new regulatory set-up will be more effective

15 Dec 2011

Financial Services Bill committee member Baroness Drake says the new regulatory structure is likely to deliver more effective regulation.

OFT set to refer private healthcare market to Competition Commission

15 December 2011

The Office of Fair Trading has made a provisional decision to refer the private healthcare market to the Competition Commission.

Money Advice Service chief defends £350k pay to MPs

13 Dec 2011

MAS chief executive Tony Hobman says vital work of service justifies salary £100,000 higher than PM.

Make financial education compulsory, say MPs

12 Dec 2011

Parliament’s biggest All-party group calls for compulsory education in primary and secondary schools.

Transport permanent secretary is new HMRC chief

9 Dec 2011

Homer will replace Lesley Strathie who stepped down last month on health grounds from January 2012.

Transfers could distract from Nest's social purpose

8 Dec 2011

Adrian Boulding says scrapping the transfer bans and contribution cap from Nest would see the scheme distracted from its key focus.

MPs want FCA powers to set minimum product standards

8 Dec 2011

MPs are calling for the Financial Conduct Authority to be given powers to set minimum standards for a range of mass-market financial products.

UK to rework Swiss tax deal as it falls foul of EU

8 Decemeber 2011

The UK Government will have to rework a tax deal struck with Switzerland because it falls foul of EU law.

Drake pleads for DWP to keep small firms in auto-enrolment

7 Dec 2011

DWP urged not to give into inevitable pressure for small firms to be exempt from auto-enrolment

Dilnot calls for LTC funding advice triggers

6 Dec 2011

Andrew Dilnot says trigger points should be found for people to be signposted to advice over long term care funding.

Hutton: Gloomy growth outlook increases need for public sector pension reform

5 Dec 2011

Lord Hutton says recent downgrades to UK growth forecasts will hit sustainability of public schemes.

Labour: We must have transparency on pension charges

1 Dec 2011

Labour Shadow pensions minister Gregg McClymont calls for transparency on pension charges and help on auto-enrolment for small businesses

IFS pours cold water on Osborne's plan for growth

1 Dec 2011

The Institute for Fiscal Studies says it is “running out of superlatives” to describe unprecedented scale of cuts.

AS 2011: Fear that euro crisis could hit UK growth

1 December 2011

Chancellor George Osborne says if European leaders cannot find a solution to the European sovereign debt crisis, the Government’s new growth forecasts could be far too optimistic.

AS: MPs criticise pension infrastructure move

1 December 2011

Labour MPs have raised concerns about the potential cost of the Government’s plan to get UK pension funds investing in infrastructure projects.

Cameron considers opening inquiry into Arch cru failure

1 December 2011

Arch cru compensation

Regulator to clarify compensation for investors

1 December 2011

The FSA has agreed to clarify the level of compensation that investors in Arch cru funds can expect to receive after MPs attacked the regulator for sending confusing letters to investors.

AS 2011: Balls slams 'catastrophic' Govt policy for hitting recovery

29 Nov 2011

Balls tells Osborne he should listen to OBR’s projections which show Govt policy is undermining recovery.

AS 2011: Govt confirms EIS with 50% relief and freezes CGT threshold

29 Nov 2011

Scheme will begin April and offer 50 per cent relief for investments into small firms of upto £100,000

Chancellor to launch new EIS in small firm investment package

29 Nov 2011

Chancellor to announce investment scheme and extension to business rate holiday, according to reports.

Experts raise concerns over auto-enrolment delay

28 Nov 2011

Adrian Boulding brands the move a “huge mistake”.

Labour warn over auto-enrolment delay

25 Nov 2011

As reports suggest auto-enrolment could be delayed for small firms, Labour warns lack of saving means there should be no slippage.

Advisers urged to view Money Advice Service as business boost

25 Nov 2011

Mark Hoban says it will prime people for regulated financial advice.

50p income tax could cost Govt £1bn a year

24 Nov 2011

Centre for Economic and Business Research says individuals will minimise exposure.

Andrews joins Moneygate to build up adviser network

24 November 2011

Former AWD Chase de Vere director Phil Andrews has joined Moneygate Group as national sales director.

FSA working towards twin peaks

24 November 2011

The FSA says it will begin operating internally under the twin peaks model from April and will rely more on a risk-based approach to regulation.

'Judge Esas on improvements for the public'

24 November 2011

Financial Services Consumer Panel vice chair Kay Blair says the European supervisory authorities must be judged on how their work improves financial services for consumers.

Leslie looks at pushing for FCA legal accountability

24 November 2011

Labour Shadow Treasury financial secretary Chris Leslie says he is considering whether to push for the Financial Conduct Authority and its staff to be more legally accountable.

FSA will review information given to Arch cru investors

23 Nov 2011

FSA also mulling meeting of all relevant parties to address concerns.

MPs told councils should refer care funding queries to IFAs

22 Nov 2011

Partnership’s Chris Horlick tells MPs councils should refer self funders asking about care costs to IFAs

Labour and Conservatives clash over Northern Rock sale

22 Nov 2011

Treasury financial secretary Mark Hoban says no credible plan for remutualisation was put forward.

CML: Government MIG scheme will not lead to more risky loans

21 Nov 2011

Labour warns MIS must help buyers and not artificially raise house prices or hit bank stability.

Solicitors take twice as long over property sales

18 Nov 2011

Conveyancing solicitors are taking longer to finalise the legal work on property sales, delaying the process by up to five months, says Lentune Mortgages director Stuart Gregory.

Labour says Treasury pushing for auto-enrol small business exemption

17 Nov 2011

Pressure mounts on DWP to allow small business exemption

Coalition urged to keep promise to promote mutuals

17 November 2011

Treasury select committee member Andy Love says the Government’s new less onerous regulations for credit unions and co-operatives are welcome but do not meet its promise to promote mutuals.

FSA calls for bill to set out firms' responsibilities

17 November 2011

Senior FSA executives have signalled support for the draft Financial Services Bill to include a principle laying out firms’ responsibilities to consumers.

Germany slams UK for shunning EU 'Robin Hood' tax

16 Nov 2011

German chancellor Angela Merkel puts pressure on UK to support a Europe only financial transaction tax.

Which? slams 8.8% commission bank advisers

16 Nov 2011

Which? has slammed bank and building society advisers after 32 out of 37 gave poor investment advice to its mystery shoppers.

Government under pressure over banking reform deadline

15 Nov 2011

FPC member Robert Jenkins calls for Independent Commission on Banking proposals to be implemented within 2 years.

Which? wants more TSC scrutiny of FCA

11 Nov 2011

Consumer bodies have called for increased Parliamentary accountability for the Financial Conduct Authority.

Turner: Make FCA minutes public

10 Nov 2011

FSA chairman Adair Turner and Treasury financial secretary Mark Hoban have called for the publication of the board minutes of the FCA.

Begg claims FSB scheme AMC will be too high

10 November 2011

Work and Pensions select committee chair Anne Begg has cast doubts on Federation of Small Business claims that its new pension scheme charges will be comparable to Nest.

Competition should be objective to avoid more consolidation

10 November 2011

Which? has called for the Prudential Regulation Authority to be given a primary competition objective to ensure it does not contribute to market consolidation.

King backs bid to make BoE more accountable

10 November 2011

Bank of England governor Mervyn King has told MPs he would back the creation of a new Parliamentary committee to boost the bank’s accountability.

Passporting crackdown on the way

10 November 2011

The FSA says it will keep a close eye on firms using passporting rules as an attempt to circumvent the RDR.

Rejection dictates new stance

10 November 2011

Treasury select committee chairman Andrew Tyrie says the FSA’s rejection of the committee’s key RDR recommendation will inform how it proposes to increase the Financial Conduct Authority’s acc-ountability.

SMF calls for a cash matching plan to offer saving incentives

10 November 2011

Centre Forum’s proposal to remove higher rate tax-relief on pension lump sums does not go far enough because it fails to incentivise saving, according to the Social Market Foundation.

TSC wants veto over BoE governor

9 Nov 2011

TSC says veto over hiring and firing of Bank’s governor is vital for post’s credibility and independence.

TSC: FSA's RDR behaviour will be addressed in FCA inquiry

5 Nov 2011

Formal response to MPs’ RDR report says 91% of advisers expected to meet QCF level 4 deadline.

Nationwide: More downgrades are on the way

4 Nov 2011

Nationwide expects to see further downgrades of banks and building societies as the Government reduces its support for financial institutions.

Don't blame me, says Sants

3 Nov 2011

FSA chief executive Hector Sants has told MPs he is not responsible for any of the regulatory failures that affected consumers during his tenure.

Margaret Cole defends plan for early warning

3 Nov 2011

The FSA has defended proposals to give the FCA the power to publish warning notices against firms and individuals.

Senior staff exodus has hit UK showing on Esas

3 Nov 2011

Senior staff departures have disrupted the UK’s representation on European Supervisory Authorities, according to FSA chief executive Hector Sants.

Turner: Making regulators accountable places cost burden on the industry

3 Nov 2011

Adair Turner says any moves to make regulators and their staff more legally accountable for their decisions may undermine judgement-based regulation.

DWP staff lose 150 laptops in five years

3 Nov 2011

DWP staff have lost 154 laptop computers since 2006.

Insurance expertise required

3 November 2011

The Association of British Insurers wants the Financial Policy Committee to have a statutory obligation to have at least one member with insurance industry experience.

Markdown costs Yorkshire in the wholesale market

3 November 2011

Yorkshire Building Society says it must pay around 0.4 per cent more for wholesale funding than a AAA-rated firm.

Thinktank: Abolish higher rate tax-relief on pension lump sums

2 Nov 2011

Centre Forum calls for lump sums over £42,475 to be taxed at relevant income tax rate.

FSA bosses call for changes to objectives of FCA

1 Nov 2011

Adair Turner and Martin Wheatley raise concerns over confidence and competition roles.

Tyrie warns time pressures hindering scrutiny of new reg structure

1 Nov 2011

TSC chair Andrew Tyrie has written to committee scrutinising regulatory changes to co-ordinate efforts.

Miliband slams Govt business tax changes

31 Oct 2011

The Labour leader says changes to tax system will boost banking and promote short-termism.

MPs attack Bank of England for not releasing crisis documents

31 Oct 2011

TSC chair Andrew Tyrie calls on Bank of England to reconsider his request.

Tyrie fears liquidity squeeze is thwarting lending

27 October 2011

Treasury select committee chairman Andrew Tyrie has written to the FSA and the Bank of England over concerns that the squeeze on banks’ liquidity is affecting their ability to lend.

Tyrie calls for help assessing FSA cost benefit analyses

25 Oct 2011

TSC chair Andrew Tyrie wants to see firms regulatory costs to compare them against FSA expectations.

Top-up will still be needed to get to 60% target

20 October 2011

The state pension and auto-enrolment will only provide savers with 45 per cent of their working income in retirement, which savers will need to top up to around 60 per cent, according to Baroness Drake.

Falling incomes set to slash numbers for auto-enrolment

20 October 2011

Falling incomes mean more people are likely to opt out of auto-enrolment into pensions than previously estimated, according to the Institute for Fiscal Studies.

Providers need to take on duty of care for deferred benefits

20 October 2011

Providers of auto-enrolment pension schemes should have a duty of care for stranded smaller pots, says Baroness Drake.

Short-service refunds could influence choice

20 October 2011

Baroness Drake has warned that the inability of Nest to offer short-service refunds is likely to lead employers away from the scheme and towards those who do offer them.

Mortgage cover vital to cut repos

14 Oct 2011

Increased take-up of insurance policies that cover mortgage payments is vital to keep the number of future repossessions down, according to BSA head of mortgage policy Paul Broadhead.

Duncan Smith quells flat-rate delay fears

13 Oct 2011

Iain Duncan Smith has dismissed fears that advisers could be at risk of misselling if the flat-rate pension is not in place by the time pension auto-enrolment gets under way.

Equitable Life redress ruling 'unfair'

13 Oct 2011

Pensions select committee member Andrew Bingham brands Equitable Life ruling “unfair and wrong”.

Pension clarity call for public/private partnership plan

13 October 2011

Dilnot commission chairman Andrew Dilnot has called for clarity on the future of the state pension to enable development of a public/private partnership.

'Immigration won't solve pension funding crisis'

12 Oct 2011

Immigration minister Damian Green has dismissed the idea that immigration can solve the pension crisis, saying it would require colossal levels of immigration for only marginal improvements.

Intervention urged on pension charges over 1.5%

7 Oct 2011

The Govt should intervene over pension charges on schemes where people are auto-enrolled if they have an AMC of more than 1.5%.

Altmann says give firms tax breaks for auto advice

6 Oct 2011

Saga chief says the Government has an obligation to ensure people have access to advice on auto-enrolment.

Complainants' fees should be spread to FOS

6 Oct 2011

Advisers want the Government to extend its plan to introduce fees for employment tribunal complainants to the FOS.

Late delivery for financial reform report

6 October 2011

The Parliamentary committee scrutinising the draft Financial Services Bill could publish its final report more than a month later than originally intended, said an MP on the committee.

Miliband gives support on financial transaction tax

6 October 2011

Labour leader Ed Miliband has signalled his support for European proposals to introduce a financial transaction tax.

Pomeroy calls for generic products

6 October 2011

Financial Inclusion Taskforce chair Brian Pomeroy has called on the industry to come forward with a range of generic products for consumers who will not have access to advice after the RDR.

Top-rate tax could be cut to 40% in return for forfeiting relief

6 October 2011

A policy proposal will be submitted by Shadow Treasury chief secretary Angela Eagle to cut the top rate of tax to 40 per cent in exchange for the removal of all allowances.

TSC member warns over RDR threat to diversity

3 Oct 2011

Jesse Norman has raised concerns that the retail distribution review will lead to reduced diversity in financial services.

Andrew Tyrie attacks Government growth strategy

3 Oct 2011

TSC chairman says Cameron’s growth strategy is incoherent and inconsistent.

Chris Cummings says industry must not reject new regulation

30 Sep 2011

City UK chief executive says financial services industry must not to push back against additional regulation.

Labour: MPs fear TSC will crack under heavy workload

30 Sep 2011

Committee scrutinising financial services bill is concerned Treasury select committee will not be able to cope.

Demand for BTL loans pushes up banks' lending

29 September 2011

High-street banks’ gross mortgage lending rose by 5 per cent in August to £8.2bn, up from £7.8bn in July, according to the British Bankers’ Association.

Too early to say if finance bill will be a vehicle for bank reform, claims Cable

29 September 2011

Business Secretary Vince Cable says it is too early to say how much of the legislation that brings in the Independent Commission on Banking’s recommendations will be included in the Financial Services Bill.

Labour: ABI warns new regulations could restrict advice

27 Sep 2011

Director general Otto Thoreson warns the Financial Conduct Authority’s regulatory agenda could end up restricting access to advice.

Change FCA aim to ensuring fairness and transparency

23 Sep 2011

The FCA’s single strategic objective should be changed to maintaining a fair and transparent market for consumers, says Which?

FSCS chief says funding must be fairer for smaller firms

23 Sep 2011

Mark Neale says it is vital the FSCS new funding model treats small businesses fairly and is supported by the industry.

Steve Webb positive on save more tomorrow pledge

22 Sep 2011

Pensions minister says the Government should look at strategies to increase pension contribution levels after auto-enrolment has been introduced.

Co-op: We are the only credible Lloyds' bidder

22 Sep 2011

Co-operative Financial Services chairman Paul Flowers claims the mutual is the only “credible” bidder for the Lloyds bank branches.

FSA investigates small Sipp firms over Ucis risks

22 September 2011

The FSA is visiting a number of small Sipp firms to investigate the risks posed by unregulated collective investment schemes.

Money Advice Service chief defends TV ad claims

21 Sep 2011

Toby Hobman has defended the use of the words free, unbiased and independent in its recent TV ad.

LibDem conference: Over-50s must receive face-to-face auto-enrolment advice

20 Sep 2011

Lord Oakeshott warns of “real danger” of misselling.

LibDem conference: Additional 2250 inspectors to fight tax evasion

18 Sep 2011

Treasury chief secretary also confirms LibDem “aspiration” to raise income tax threshold to £12,500.

Poland makes financial compensation scheme reform a European priority

16 Sep 2011

Poland makes it priority of the European Council to finalise position on the Investor Compensation Scheme directive by the end of the year.

New rules will 'cut throat' of New Zealand Qrops

15 Sep 2011

New Zealand Qrops provider Super Trustee Fund has written to the New Zealand government calling for it to scrap proposals which it claims could end the country’s Qrops market.

Bank reforms aim to get taxpayers off the hook

15 September 2011

The Independent Commission on Banking has held firm on its reforms, recommending that banks ringfence retail operations from investment banking and hold capital in excess of Basel III requirements by 2019.

CII calls for panEuropean body

15 September 2011

The Chartered Insurance Institute is calling for a new regulatory committee to be set up to coordinate the UK regulators’ engagement with Europe.

European adviser federation link-up for property disputes

15 September 2011

The Federation of European Independent Financial Advisers has entered a partnership with overseas property legal services firm Judicare Group, making its services available free to Feifa members.

CII: FCA must take chartered status into account

14 Sep 2011

The CII is calling for the Financial Conduct Authority to take chartered status into account when judging the culture of firms.

European rules would not stand in the way of Vickers

14 Sep 2011

European Banking Authority chair tells MPs Europe’s capital rules allow flexibility for UK to meet ICB recommendation.

Osborne resists calls to speed up ICB implementation

13 Sep 2011

Chancellor says 2019 date is considered view of Commission as Ed Balls apologises to MPs for Labour’s part in crash.

Vickers gives the banks flexibility over ringfence

12 Sep 2011

The ICB sticks with its ringfencing plan but gives banks discretion over where some services should sit.

Peer presses for rethink on FSCS review

9 Sep 2011

The Government should force the FSA to resume its FSCS review if the European Union fails to finalise the investor compensation scheme directive by December.

Lib Dems 'want £12,500 income tax threshold'

8 Sep 2011

Treasury chief secretary Danny Alexander says it is party’s ambition to take all minimum wage workers out of income tax.

Economists call on Osborne to scrap 50p rate

7 Sep 2011

20 economists write to FT calling for rate to be cut at earliest opportunity as Chancellor admits growth is slowing.

Chancellor's autumn statement due on November 29

6 Sep 2011

Chancellor George Osborne’s autumn statement will follow OBR outlook published on same day.

Fleming Family & Partners launches HNW advice service

6 Sep 2011

Family office launches advice service for clients with investable wealth of between £2m and £10m.

LEBC launches pension software that 'saves firms millions'

5 Sep 2011

LEBC says life expectancy reviews of all FTSE 250 companies could cut £1bn of occupational pension liabilities.

UK banks face US legal action over securities

5 Sep 2011

Royal Bank of Scotland, Barclays and HSBC among banks accused of misrepresenting quality of mortgage securities.

New Zealand plans could block Qrops

18 Aug 2011

NZ government is proposing restricting use of the country’s pension schemes to residents.

Chancellor admits road to recovery will be tougher

18 August 2011

Chancellor George Osborne has warned that the economic recovery will be longer and harder than previously thought.

'Protection service is going to get much better'

18 August 2011

Friends Life has pledged to deliver more consistent protection service standards across its brands when it moves to a single operating platform later this year.

Thousands sign compulsory financial education petition

17 Aug 2011

Petition needs 100,000 signatures to be considered for Parliamentary debate.

Lagarde: Deficit reduction plans must not damage growth

16 Aug 2011

IMF managing director Christine Lagarde says deficit reduction must ’resolve conundrum’ of being neither too fast or too slow.

Consumer panel calls for 'predictable outcome' products

12 Aug 2011

Financial Services Consumer Panel says products that ’do what they say on the tin’ are vital in restoring trust in financial services.

Jersey looks at creating its own RDR

12 Aug 2011

Jersey Financial Services Commission consulting on increased qualifications and a ban on commission.

PM extends Riot Act compensation window to 42 days

11 Aug 2011

Riot Act compensates uninsured individuals and insurance firms for money paid out, usually if claims are made within 14 days.

Can economic policies explain the social unrest?

10 Aug 2011

Labour takes a huge political risk in tackling the Government over the cause of social unrest.

George Osborne to address Parliament over economic situation

9 Aug 2011

Chancellor returning from holiday to give a statement to recalled HoC on Thursday.

FTSE 100 soars back above 5000 as US markets rise

9 Aug 2011

FTSE 100 closes nearly 2 per cent up for the day after early falls.

Leadsom: I cannot see 50p tax cut before 2013

8 Aug 2011

TSC member and Conservative MP Andrea Leadsom says cutting top rate of tax before public sector pay freeze ends would be wrong.

US markets braced for S&P downgrade fallout

8 Aug 2011

US investors are expected to seek safe havens in wake of Standard and Poor’s downgrade.

Focus of FSA's HBOS investigation revealed

5 Aug 2011

Lloyds results reveal FSA will focus on Bank of Scotland’s corporate division pre-2009.

What should we do with the Rock?

5 Aug 2011

Osborne is stuck between a (Northern) Rock and a hard place over the future of the state-owned bank.

OBR: 2011 growth unlikely to hit 1.7% target

4 Aug 2011

Office of Budget Responsibility chairman Robert Chote has indicated growth for 2011 is unlikely to hit target set out in March.

MPs' report says HMRC service is unacceptable

4 August 2011

The Treasury select committee says budget cuts, poor management and inflated expectations of IT projects have caused HM Revenue and Customs’ customer service standards to fall to “unacceptable levels”.

MPs slam "disturbing" fall in HMRC service levels

30 Jul 2011

Treasury select committee says sustained budget cuts among causes of fall in standards

Govt faces strike threats over public sector pension reform

28 Jul 2011

Trade Unions Congress says Govt must show it is prepared to change course or unions will plan more strikes.

Govt sets out public sector pension contribution plan

28 Jul 2011

Three Govt departments consult on sliding scale of increases which see well paid contributing more.

Duplication is main concern for new bill

28 July 2011

Joint committee on the draft Financial Services Bill member Lord Newby says his main concern will be ensuring there is no duplicate regulation between the Prudential Regulation Authority and the Financial Conduct Authority.

MPs want ICB to review retail banking total split

28 July 2011

The Treasury select committee is concerned that the Independent Commission on Banking has not given enough consideration to a total split of retail and investment banking.

Balls: Govt should cut VAT to boost spending

26 Jul 2011

Ed Balls accuses George Osborne of “breathtaking complacency” over today’s 0.2 per cent growth figures.

Garnier: 'farcical' FSA lost support for the RDR

22 Jul 2011

TSC member says FSA’s flawed strategy and “farcical” evidence have done little to garner support for the RDR reforms.

Andrew Tyrie vows to keep up the RDR pressure

21 Jul 2011

TSC chair Andrew Tyrie tells Money Marketing “this will not be the end of the matter”.

Angry MPs slam "arrogant" FSA over RDR delay dismissal

21 Jul 2011

Treasury select committee MPs say FSA has treated them with “contempt” in swiftly dismissing its RDR findings.

59% Of over-55s to stay on after RDR

21 July 2011

The FSA has revealed figures showing only 59 per cent of advisers over 55 plan to stay in the industry after the RDR compared with 82 per cent across all age groups.

Advisers criticise TSC for not pushing FSA on long-stop rethink

21 July 2011

Advisers are disappointed that the Treasury select committee did not call for the FSA to reconsider an adviser long stop in its report on the RDR.

'FSA must raise wages by 50% to get quality staff'

21 July 2011

Headhunting consultancy Hedley May says the FSA must increase its annual spend on wages by 50 per cent to attract staff capable of carrying out a more interventionist regulatory approach.

MPs want clear coalition plan to promote mutuals

21 July 2011

MPs are calling on the Government to urgently set out plans for how it will foster diversity and promote mutuals within financial services.

Regulation uncertainty makes banks a tough sell

21 July 2011

UK Financial Investments says uncertainty over the future shape of financial regulation is making it more difficult for Government bank stakes to be sold.

Treasury compilation puts net liability for public sector pensions over £1trn

21 July 2011

Advisers have welcomed the publication of Treasury figures showing the net liability for accrued public sector pension rights stands at £1.13trn, saying it sheds light on the true cost of the schemes.

Regulatory switch scrutiny committee calls for evidence

20 Jul 2011

New committee scrutinising the draft Financial Services bill calls for evidence on new regulatory architecture.

McFall, Drake and Newby to sit on regulatory scrutiny committee

20 Jul 2011

House of Lords confirms its half of the committee to scrutinise draft Financial Services Bill.

Banks posing biggest risk to face higher capital requirements

20 Jul 2011

Financial Stability Board sends proposals to G20 countries for up to 2.5 per cent higher capital charges.

Regulatory uncertainty delaying sale of state owned banks

19 Jul 2011

UKFI says it will wait for more clarity before recommending sale of Govt stakes.

Govt must show how it will promote mutuals

18 Jul 2011

Group of MPs say new regulators must have formal commitment to promoting mutuals and diversity.

HMRC must clarify VAT treatment of advice, say MPs

16 Jul 2011

The Treasury select committee’s report says the revenue must provide clarity over VAT on advice as soon as possible.

MPs call for long-stop to be considered in regulation restructure

16 Jul 2011

TSC RDR report calls on parliamentary committee scrutinising draft Financial Services Bill to decide on introduction of long-stop for advisers.

Leslie: Government is gambling on financial reform

15 Jul 2011

Shadow Treasury financial secretary Chris Leslie says the Government risks having to perform another policy U-turn by pushing through financial regulation reforms too quickly.

MPs rebuff plan to scrutinise changes

15 Jul 2011

A motion to appoint six MPs to a scrutiny committee for the Government’s proposed changes to the regulatory structure has been rejected by Parliament.

BBA: ICB must not go beyond Basel capital levels

14 Jul 2011

Trade body says dynamics of the market mean higher limits are not necessary.

Government says FSCS review timing is up to FSA

14 July 2011

The Government has refused to back calls from MPs for the FSA to make reviewing the Financial Services Compensation Scheme funding a priority.

All adverts should point to Money Advice Service, says thinktank

13 Jul 2011

The Social Market Foundation says all financial product advertisements should refer customers to the Money Advice Service.

TSC's RDR report due on Saturday

12 Jul 2011

The Treasury select committee’s report into the RDR will be published this Saturday.

Govt rejects call for public interest test over Lloyds branch sales

12 Jul 2011

The Government says responsibility for the sale of 632 branches lies with Lloyds Banking Group and the European Commission.

Virgin Money and Co-op among bidders for Lloyds branches

12 Jul 2011

Start-up bank NBNK has also placed a bid for 632 branches Lloyds is being made to sell off.

Govt figures to include public sector pension deficit

11 Jul 2011

Figures published this week to include net public sector pension deficit figure.

Deputy governor tells banks to use profits to rebuild their reserves

8 Jul 2011

Bank of England deputy governor for financial stability Paul Tucker has called on banks to use their profits to replenish their capital reserves in preparation for future economic shocks.

MPs launch auto-enrolment inquiry

8 Jul 2011

Work and pensions committee to cover opt-out rates, provision of advice and Nest’s investment strategy.

MPs make pledge to keep up FCA pressure

8 Jul 2011

The Treasury select committee says it will continue to push for the Financial Conduct Authority to have a primary duty to promote effective competition.

FOS: Better claim process can stop the chasers

8 Jul 2011

FOS chief exec Natalie Ceeney has urged banks to improve their complaint-handling processes to stop the claim management industry booming following the PPI scandal.

Origen MD Stephen Greenstreet resigns

7 Jul 2011

Greenstreet to be temporarily replaced by Aegon’s executive chairman of distribution Patrick Gale.

Hoban warns EU not to weaken Basel III

7 July 2011

Treasury financial secretary Mark Hoban has warned European law-makers against watering down Basel III as they draw up capital and liquidity reforms.

'Two-speed euro needed in debt crisis'

7 July 2011

Economic parameters such as interest rates must be set at two levels in the eurozone to accommodate weaker economies if it is to survive the sovereign debt crisis, according to Standard Chartered.

Europe rebuffs calls for rise in compensation level

6 Jul 2011

The European parliament has refused to back a recommendation to increase the Investor Compensation Scheme’s maximum guaranteed level of compensation to €100,000.

BCC wants small business auto-enrolment exemption

5 Jul 2011

British Chamber of Commerce survey shows a third of sole traders see auto-enrolment as a top barrier to expanding.

Meacher: Where are Labour on splitting the banks?

4 Jul 2011

Labour MP calls on Ed Miliband to “lead the charge” for total separation.

'Poor Isa' to offer £200 extra tax-free allowance

4 Jul 2011

David Cameron is today expected to back call for Big Society Isa offering increased allowance in exchange for investing in social projects.

Euro regulator could get power for shock swoops

4 Jul 2011

The European Parliament wants to give the European Securities and Markets Authority the power to conduct unannounced, on-site inspections of firms.

Treasury to hold FCA to account

30 Jun 2011

The Financial Conduct Authority will have to report to the Treasury to justify its decisions in the event of a regulatory failure.

Tyrie urges banks to go public on ringfencing concerns

30 Jun 2011

Banks should go public on their concerns about ringfencing, TSC chairman Andrew Tyrie has urged.

Italian governor Draghi is new ECB president

30 June 2011

Italian central bank governor Mario Draghi has been appointed the next president of the European Central Bank.

Sants: PPI was a missed opportunity to restore trust

29 Jun 2011

FSA chief executive Hector Sants tells banks misselling scandal was a missed opportunity to restore customer confidence.

FSCP: FCA 'needs to tackle root causes not symptoms'

28 Jun 2011

The Financial Services Consumer Panel calls for detrimental business models to be tackled, not just individual problems.

ABI fears over PRA retrospective regime

24 Jun 2011

The ABI has warned the PRA judgement-based approach to regulation could be unfairly retrospective and clash with European directives.

FCA gets product ban powers

23 June 2011

The Financial Conduct Authority will have powers to ban products for 12 months and be able to disclose warning notices which signal the start of enforcement proceedings.

Osborne backs ringfence

23 June 2011

Chancellor George Osborne has endorsed the preliminary proposals of the Independent Commission on Banking, leaving banks in little doubt they will have to separate their retail and investment activities.

Government opens FirstBuy scheme

21 Jun 2011

Housing minister Grant Shapps has launched the £500m scheme aimed at helping first time buyers.

Sants: Judgement based approach is justified

21 Jun 2011

PRA chief executive designate says different incentives and data available to regulators justify new “forward looking” approach.

Sants: 'Supervision of insurers will be more intense than for banks'

20 Jun 2011

PRA chief executive designate Hector Sants says protecting policyholders is likely to make supervision more intense.

Financial reform: Govt sticks with early disciplinary disclosure plans

16 Jun 2011

Financial Conduct Authority will not have a primary competition objective under latest regulatory proposals.

750,000 to strike over public sector pension changes

16 Jun 2011

Cabinet Secretary Francis Maude warns changes to industrial relation laws not ruled out.

Qrops code warns against execution-only advice

10 Jun 2011

Offshore adviser Montfort International has published a draft code of conduct for Qrops advice which warns advisers not to write Qrops business on an execution-only basis.

Economists want Plan B from Osborne

9 June 2011

A group of 50 economists have hit out at Chancellor George Osborne’s deficit reduction plans, claiming that they are not working and the Government “urgently” needs to adopt a “Plan B”.

MP backs probe into RBS accounting methods

9 June 2011

Conservative MP Steve Baker has backed calls for Royal Bank of Scotland to explain its accounting methods after discrepancies emerged concerning the bank’s capital position.

US uses UK 'light touch' regulation as warning

7 Jun 2011

US Treasury secretary Tim Geithner says ’tragic ending’ should serve as a lesson to countries changing regulatory structures.

IMF: No changes to economic policy needed

6 Jun 2011

IMF says no change to policy necessary unless risks to growth and inflation emerge.

Govt must publish report into future of Northern Rock, says MP

3 Jun 2011

Lib Dem MP Sir Alan Beith says not publishing the Deutsche Bank report would destroy credibility of any decision based on it

Audit Office hammers £93k cost per house rescue

2 June 2011

The National Audit Office has criticised the Government’s mortgage rescue scheme after it carried out less than half of its intended rescues at almost three times the expected cost for each household.

FSA execs share £880,000 redundancy payments since crash

31 May 2011

No FSA executives or directors have been made redundant on grounds of capability or conduct since July 2007.

Barnier: Basel III will not be watered down for bancassurers

27 May 2011

EU internal market commissioner Michel Barnier has rejected reports Basel III will be watered down for banks which have insurance arms.

MPs press to see banks' cost-benefit analysis data

27 May 2011

The Treasury select committee has called on the Independent Commission on Banking to publish the cost-benefit analysis.

Cable: 'I can see another crash happening'

26 May 2011

Business Secretary Vince Cable says he is concerned over the ’piecemeal’ international approach to bank regulation.

MPs call for public sector pension cost benchmark

26 May 2011

Government needs formal benchmark instead of defining affordability on the basis of public perception, says Govt spending watchdog.

Companies could be rated on default risk

26 May 2011

Businesses could be publicly rated according to their risk of default under plans for the new regulatory regime.

Firms will not bear the costs, pledges Sants

26 May 2011

Chief executive designate Hector Sants says firms regulated by the Prudential Regulation Authority will not face increased fees to pay for the establishment of the PRA.

Lloyds looking at bonus clawback on missold PPI

26 May 2011

Lloyds Banking Group is considering clawing back bonuses paid to executives that were linked to the sale of payment protection insurance, according to its chairman Win Bischoff.

PRA can intervene in how a firm is run

26 May 2011

The Prudential Regulation Auth-ority will have the power to intervene directly in the running of companies in order to maintain financial stability.

Sants wants the power to tell all after failure

26 May 2011

The new regulator should have the power to provide a full public account to Parliament following the failure of a firm, says Prudential Regulation Authority chief executive designate Hector Sants.

'The PRA must be supported by the community it serves'

26 May 2011

The Prudential Regulation Authority must gain the support from the public and Parliament that the FSA never received if it is to be a success, according to PRA chief executive designate Hector Sants.

Call to keep UK out of EU bailouts rejected

25 May 2011

Parliamentary motion to stop UK involvement in future EU bailouts has been defeated.

ICB ringfence 'doomed to failure', says TSC member

25 May 2011

TSC member Andrea Leadom says ICB’s interim proposal of ringfencing retail and investment banking seems doomed to fail.

TSC's Chuka Umunna becomes Shadow business minister

24 May 2011

Umunna will focus on deregulation and better regulation and matters around small businesses and access to finance.

Equity Trust loses court battle over Qrops status

23 May 2011

Investors in Panthera ROSIIP scheme face 50 per cent charge, but firm says it will appeal.

Mutuals: Hoban has reneged on vow to promote us

20 May 2011

Mutuals have accused Treasury financial secretary Mark Hoban of failing to contribute to the Government’s commitment to promote mutuality.

Arrow approach scrapped as PRA promises more intrusive regulation

19 May 2011

All firms will have ’baseline supervision’ so regulators see problems coming.

Sants: FSA was not supported by public or Parliament

19 May 2011

PRA chief executive designate says new regulator must win support.

Hoban rejects Turner call to reverse mutual liberalisation

19 May 2011

Treasury financial secretary Mark Hoban has rejec-ted a call from FSA chairman Lord Turner to reverse the liberalisation of the mutual market.

Openwork adds Calibrand to level 4 providers

19 May 2011

Openwork has added Calibrand to the range of QCF level four qualification providers the network offers to its members.

10,000 call for state pension age increase to be abandoned

18 May 2011

A 10,000 signature strong petition to be delivered to Downing Street.

OFT: Dominance of big four auditors hitting competition

17 May 2011

The OFT says concerns are enough to bring in Competition Commission.

Call for state owned bank shares to be given away

16 May 2011

The Centre for Policy Studies says giving shares to taxpayers and recouping a portion of future sales could save £750m.

IMF chief denies sexual assault charges

16 May 2011

Dominique Strauss-Kahn is unlikely to be able to claim diplomatic immunity.

Richard Lambert turns back on Bank of England role

13 May 2011

Sir Richard Lambert has decided not to take up his post on the BoE’s Financial Policy Committee.

Parliamentary report calls for David Laws suspension

12 May 2011

A Parliamentary standards report says Laws was guilty of ’series of serious beaches over a considerable time’.

Hoban rejects TSC appeal for FSMA rewrite

12 May 2011

Treasury financial secretary Mark Hoban has dismissed Treasury select committee concerns that Government plans to amend the Financial Services and Markets Act rather than rewrite it could leave flaws in the new regulatory structure.

Hoban pledges Equitable Life payouts will start in June

12 May 2011

Treasury financial secretary Mark Hoban has confirmed the Government is on track to meet its commitment to start Equitable Life compensation payouts in June.

L&G business up 12% despite annuity falls

12 May 2011

Legal & General saw a 12 per cent rise in new business in the first quarter of this year to £433m from £388m in the same quarter of 2010.

More regulation means tighter credit in future

12 May 2011

The growing regulatory burden on building societies is making it more difficult to return to higher levels of lending, according to the Building Societies Association.

Revamped Prudence bond offers greater flexibility

12 May 2011

Prudential has relaunched its International Prudence bond with new fund and spot guarantee options.

Select committee picks duo to review FSA's RBS probe

12 May 2011

The Treasury select committee has appointed Sir David Walker and Bill Knight to review the FSA’s report into the collapse of Royal Bank of Scotland.

Hoban rejects FSA's call to force mutuals to 'stick to knitting'

11 May 2011

Treasury financial secretary Mark Hoban rejects call from FSA chairman Lord Turner to reverse mutual liberalisation.

Govt to apply 3 year regulation moratorium to financial restructure

10 May 2011

Treasury financial secretary Mark Hoban said Govt aims to apply moratorium to FSA but regulator will have last word on applying it.

Labour says power shift will weaken fight against crime

6 May 2011

Labour Shadow Treasury financial secretary Chris Leslie says moving the financial regulator’s enforcement powers to the Home Office’s National Crime Agency would lead to a less effective fight against financial crime.

Walker and Knight to review FSA's RBS report

5 May 2011

TSC announce Sir David Walker and Bill Knight will review RBS report delayed over legal wrangling.

BSA elects Peter Griffiths as chairman

5 May 2011

Principality Building Society chief exec Peter Griffiths replaces David Webster as BSA chairman.

Lloyds reports £3.4bn loss after making PPI provision

5 May 2011

Lloyds Banking Group have posted a £3.4bn loss after putting aside £3.2bn to cover PPI misselling claims.

Leaders clash over economy

5 May 2011

Labour leader Ed Miliband and David Cameron clashed in Parliament last week over the significance of the latest GDP figures, with the Prime Minister accused of complacency.

Plea to end last-minute tax changes

5 May 2011

The Government should stop including last-minute tax changes in the Budget if it wants to provide stability in the tax system, according to the Chartered Institute of Taxation.

Small firms hit by banks' 'arm and leg' lending rates

5 May 2011

The Federation of Small Businesses warns that the unwillingness of banks to lend at reasonable rates is undermining the UK economic recovery.

Labour calls for urgent bank tax review

4 May 2011

Shadow Treasury financial secretary Chris Leslie slams ’pathetic’ £2.6bn levy.

L&G reports falling annuity sales but new business increase

4 May 2011

Provider has seen a 12 per cent rise in new business in the first quarter of 2011.

Govt warned against surprise Budget tax rises

3 May 2011

Chartered Institute of Taxation says tax changes should be consulted on not announced at last minute.

Political pressure grows to remutualise the Rock

3 May 2011

Over 100 MPs sign motion calling for Northern Rock to be remutualised.

Advisers drawing up global Qrops code

28 Apr 2011

A best practice code for advising on Qrops is being developed by a group of advisers from around the world.

AV rancour poses threat to financial services legislation

28 April 2011

The Government’s radical reform of financial services regulation would be left in limbo if the coalition splits following the alternative vote referendum.

HMRC sweeps up tax liabilities on employee trusts

28 April 2011

HM Revenue & Customs is offering users of employee benefit trusts the chance to settle any outstanding tax liabilities without the threat of litigation, although penalties may still apply in certain cases.

NZ firms drawing up Qrops code

28 April 2011

Qrops providers in New Zealand are developing a code of practice to improve the country’s reputation on overseas pension schemes.

Sentance slams MPC credibility

28 April 2011

The Bank of England monetary policy committee’s credibility may already have been undermined by not raising interest rates soon enough to deal with high inflation, says MPC external member Andrew Sentance.

Advisers call for FOS staff to have greater experience and qualifications

27 Apr 2011

IFAs have called for adjudicators to have industry experience and minimum industry qualification levels in a survey.

MPs attack Treasury on lack of influence over bank lending

22 Apr 2011

MPs have criticised the Treasury’s “lack of effective sanctions” against Royal Bank of Scotland and Lloyds Banking Group when the banks failed to meet lending targets for small businesses under the Asset Protection Scheme.

EU will create single market for VCTs to aid SME funding

21 Apr 2011

The European Commission is looking to create a single market for venture capital trusts across the European Union.

Interim FPC first meeting on June 16

21 Apr 2011

The interim Financial Policy Committee will hold first formal meeting on June 16

Tory MP calls for ban on Government borrowing

21 Apr 2011

Conservative MP Steven Baker says the Government should be banned from borrowing money.

Crisis report calls for Euro central treasury

21 April 2011

A draft EU report into the financial crisis is calling for the formation of a central EU treasury and tax harmonisation across member states as part of a push for broader EU economic integration.

MPs slam Treasury over asset protection scheme

20 Apr 2011

Public accounts committee report says Treasury had lack of effective sanctions for when RBS and Lloyds failed to meet lending targets.

Steven Levin appointed as Skandia International CEO

18 Apr 2011

Levin to take over from Andre Oszmann as CEO from June.

LAPR axe to hit 1.5 million policies

15 Apr 2011

Abolition of life assurance premium relief could lead to higher premiums or reduced coverage for around 1.5 million policyholders.

Splitting FSA will not stop mistakes being repeated

15 Apr 2011

A far more radical restructure of financial services regulation is needed to ensure the mistakes of the recent past are not repeated, says Adam Smith Institute director Dr Eamonn Butler.

Mutuals protest at FOS 'short cuts'

14 Apr 2011

The Association of Financial Mutuals believes the Financial Ombudsman Service is rushing through some cases without proper consideration.

MPs to quiz Mark Hoban on diversity

14 Apr 2011

Treasury financial secretary Mark Hoban will be grilled by MPs about the Government’s work on increasing diversity in financial services.

Brown admits FSA was 'big mistake'

14 April 2011

Gordon Brown has admitted he made a “big mistake” while setting up the FSA because he did not appreciate the entangled relationships of financial services institutions.

Isle of Man set to reject grand- fathering with its own RDR version

14 April 2011

The Isle of Man’s Financial Supervision Commission has suggested that grandfathering is unlikely to be allowed when it implements its own version of the retail distribution review.

MPs warn Osborne's FirstBuy scheme could hinder FTBs

12 Apr 2011

Treasury select committee says new Government scheme to help FTBs could push up prices, making homes less affordable.

Banking Commission should avoid one-size-fits-all solution

11 Apr 2011

Adam Smith Institute says solutions should be market led.

Buckles and Merchant Investors to be rebranded Sanlam

6 Apr 2011

Merchant Investors to be rebranded Sanlam Investments and Pensions, Buckles Investment Services to become Sanlam Private Wealth.

FSCS levy review should be 'priority', says TSC

2 Apr 2011

TSC report slams banks’ dominance in “gateway” current account market for hitting competition in product market.

NIESR says growth will be lower than OBR forecasts

1 Apr 2011

The NIESR claims growth will be less than OBR revisions and the Adam Smith Institute hits out at indexation changes

Andrew Tyrie says changes may not fix FSA flaws

31 Mar 2011

Treasury select committee chairman Andrew Tyrie has warned the Government’s intended legislative process to replace the FSA may not fix operational flaws.

Balls says sorry for Labour's bank errors

31 March 2011

Balls: ’Repeat bank bonus tax’

Tax merger may not see full combination

31 March 2011

The Institute for Fiscal Studies predicts the proposed merger of National Insurance and income tax will not result in the tax regimes being fully combined.

Chuka Umunna: 'Governor has bank watchdog under his thumb'

25 Mar 2011

TSC member says Bank of England governor Mervyn King has the BoE’s court of directors “under his thumb”.

Moody's warns slow growth may place UK's AAA status at risk

25 Mar 2011

Moody’s say the UK’s AAA status could be removed if growth slows and hits austerity plans.

Perspective secures £10.6m funding for acquisitions

24 Mar 2011

Perspective Financial has received a multi million pound boost to its ‘buy and build’ strategy after raising £10.6m.

FSA sets out risk-suitability guidelines for advisers

24 March 2011

The FSA has finalised its risk-suitability guidance for advisers, laying out a number of examples of good and bad practice.

Non-doms face extra £50k tax

24 March 2011

Non-domiciled individuals will face a further £50,000 flat-rate tax once they have been in the UK for 12 years.

Rise in bank levy puts UK banks at global disadvantage

24 March 2011

The Government’s decision to increase the bank levy from 2012 will put UK banks at a long-term disadvantage, according to the British Bankers’ Association.

Budget 2011: Govt to propose £140 flat-rate pension for future retirees

23 Mar 2011

Chancellor says DWP is working on £140 flat-rate state pension as an ’option’ although reform will have to be cost neutral.

Budget 2011: Govt to consult on merging income tax and NI

23 Mar 2011

Osborne says national insurance will not be extended to pensioners.

Margaret Cole to temporarily head FSA's conduct unit

23 Mar 2011

Head of enforcement Margaret Cole will head conduct unit until CEO designate Wheatley takes post.

Govt to fund Junior Isa saving for children in care

22 Mar 2011

Chancellor tells Parliament around £5m will be made available to help encourage savings of “looked-after” children.

Axa PPP Healthcare to pay £142K over "SpongeBob SquarePants" bullying

22 Mar 2011

Brazilian staff member given nickname by colleagues who mocked her accent.

Budget 2011: Chancellor to admit higher borrowing due to "wrong type of inflation"

22 Mar 2011

Chancellor will set his sights on Non-doms, private jets and pot-holes in tomorrow’s Budget.

What do you want to see in the Budget?

21 Mar 2011

Advisers call on the Chancellor to encourage long term savings and investment in Wednesday’s Budget

Real income falls for first time since early 1990s

21 Mar 2011

IFS report says people feeling biggest squeeze on incomes since 1983.

MMTV: Work and pensions committee chair on shifting pension landscape

18 Mar 2011

MP Anne Begg on the flat rate pension, the Hutton report and why advisers need clarity ahead of auto-enrolment.

FSA warns life insurance industry faces long-term squeeze

17 Mar 2011

The FSA says new regulation, increased annuities and decreasing long-term savings products will squeeze sector.

Misselling fears over auto-enrolment

17 Mar 2011

The Government must clarify details of the flat-rate pension before auto-enrolment starts or advisers could be at risk of misselling, according to Work and Pension select committee chair Anne Begg.

IPPR calls on Govt to revise debt reduction strategy

17 Mar 2011

Left-leaning think tank calls on the Chancellor to revise his plans for deficit reduction ahead of next week’s Budget.

Fairness incompatible with tax principles

17 March 2011

The Treasury select committee’s principles it will use to measure future tax policy have been dismissed as incompatible by Taxbriefs editorial director Danby Bloch.

MP hits out at the FSA's lack of age data

17 March 2011

Treasury select committee member George Mudie has attacked FSA chief executive Hector Sants for not knowing what percentage of advisers are aged over 60.

'Passporting will knock holes in RDR'

17 March 2011

Labour MP George Mudie has questioned whether the FSA will be able to impose RDR rules on certain adviser passporting into the UK.

Regulator ready to look again at 15-year long stop

17 March 2011

FSA chief executive Hector Sants has agreed to reconsider introducing a 15-year long-stop if the Treasury select committee recommends the regulator to review its position.

Summer paper to clarify details of simplified advice

17 March 2011

The FSA intends to release a paper by the summer aimed at enabling the industry to deliver simplified advice.

Andrew Tyrie calls on BoE's Court to release crisis documents

16 Mar 2011

TSC chair says they will be used to judge Court’s role in the crisis and if it is appropriate body to scrutinise FPC.

MEP Sharon Bowles slams decision not to cut Irish bailout interest rate

14 Mar 2011

Eurozone leaders’ decision not to cut rate for Ireland before it raises corporation tax “holds nation to ransom”.

Garnier wants veto on the FCA

11 Mar 2011

Treasury select committee member Mark Garnier has called for Parliamentary oversight to be built into the Financial Conduct Authority.

Over 200 MPs back financial education

11 Mar 2011

The number of MPs in the all party Parliamentary group calling for compulsory financial education in schools has risen to 216 since it launched in January and is backed by 60 organisations.

Quit Aifa to fight RDR, says Ferguson

11 Mar 2011

IFAs that are unhappy with Aifa’s work on the RDR should leave the trade body and back Adviser Alliance, according to Nucleus chief executive David Ferguson.

FSA's WP crackdown could hit smaller firms

10 March 2011

The FSA’s proposed clampdown on insurance firms writing new with-profits business could lead to the closure of smaller insurers, according to the Association of Financial Mutuals.

OTS spares investment bonds

10 March 2011

The Office of Tax Simplification has called for Government reviews of inheritance tax and capital gains tax as part of its tax relief review.

4 out of 5 large banks refuse to disclose remuneration data to FSA

9 Mar 2011

FSA chief exec Hector Sants tells TSC 4 banks are declining to disclose info requested by commitee.

MP attacks Sants for not knowing grandfather stats

9 Mar 2011

TSC member Mudie attacks Sants for not having stats despite RDR hitting over 60s.

Webb defends pension reform plans at select committee

9 Mar 2011

Pensions minister Steve Webb says slowing increase in state retirement age would cost £10bn.

European Parliament calls for financial transaction tax

8 Mar 2011

Major grouping in EU say Commission must back the move or it will withdraw support.

Goldman Sachs MD to replace Andrew Sentance on MPC

7 Mar 2011

Treasury announces Goldman Sachs MD Ben Broadbent will replace Andrew Sentance from June.

TSC launches inquiry into BoE accountability

3 Mar 2011

As the Bank of England’s powers are set to increase, the Treasury select committee launches investigation into its accountability.

MEP wants high pension fees paid back to investors

24 Feb 2011

European Parliament economic and monetary affairs committee chair Sharon Bowles is calling on pension providers that charge “exorbitant fees” to give money back to investors.

Confidence will be the central aim for the FCA

24 February 2011

The new Financial Conduct Authority will have a central strategic objective of promoting confidence in the financial system and a number of other objectives including protecting consumers and facilitating market choice.

Sentance says bank is playing catch-up

24 February 2011

Sentance: ’The risk is that when policy tightening does start, it will be overdure’

Platforms are 'wolves in sheep's clothing'

21 Feb 2011

Insurance companies and fund companies with wrap platforms will be the biggest threat to advisers after the RDR, according to Simon Chamberlain.

Barclays calls for HNW advice to be exempt from RDR

18 Feb 2011

Barclays says advice for high-net worth individuals should be exempted from the RDR.

Big Society Isas could be high risk

18 Feb 2011

Advisers have warned that Government plans for Big Society Isas appear to be a high-risk investment strategy that is unlikely to be suitable for retail clients.

IFAs busting for apology from FSA in figure furore

18 Feb 2011

Advisers have called on the FSA to apologise for its manipulation of Financial Ombudsman Service complaint statistics to try to dispel IFAs’ claims they provide a better service than banks.

FCA will have power to publicise "intended" enforcement action

17 Feb 2011

FCA will be able to publicise warning notices against firms and individuals.

IFS chief calls for axing of pension lump sums

17 Feb 2011

Paul Johnson of the IFS puts the case for annuity top-up payments as an alternative to the tax-free lump sum.

Fear at impact of EU rules

17 February 2011

Advisers, trade bodies and banks are concerned about how regulatory changes in Europe will affect the RDR.

Industrial revolution needed for advisers

17 February 2011

The retail distribution review will drive down the cost of advice and IFAs will have to find industrialised processes to serve the mass market as a result, says independent consultant John Cowan.

Tech will boost restricted reach

17 February 2011

Industry consultant John Cowan predicts product providers will develop new technology to enable restricted advisers to service the mass market.

Aifa says Nest shows factoring can work

16 Feb 2011

Aifa has called on the FSA to review its ban on provider factoring, pointing to Nest’s charging structure as a good example of how factoring can work in practice.

IoM and Jersey repeal anti-avoidance measures

15 Feb 2011

Two Channel Islands move to quell EU concern over tax system.

PPI makes up half of all FOS complaints

11 Feb 2011

FOS raises concerns about the handling of PPI complaints.

Should the Government scrap mortgage stamp duty?

11 Feb 2011

New director of the Institute for Fiscal Studies Paul Johnson says stamp duty on housing “gums up” the market and should be scrapped.

ScotLife says another bank will exit advice

10 Feb 2011

Barclays’ exit from the advice market was an act of “brutal segmentation” and at least one more big bank is likely to follow suit, according to Scottish Life.

Don't hurry framework for new structure

10 February 2011

The Treasury select committee has warned the Government not to rush the development of legislation for the new regulatory architecture to avoid creating flawed regulation.

FSA does not have the resources to review the costs of regulation

10 February 2011

The Treasury select committee says it would be “impractical” for the FSA to review the cost of regulation and has recommended that the PRA and CPMA should conduct a review under the new structure.

Hong Kong protestors burnt the effigy of new CPMA chief

10 February 2011

Former head of the Hong Kong Securities and Futures Commission Martin Wheatley has been appointed chief executive of the Consumer Protection and Markets Authority.

Liechtenstein deal offers 'biggest tax giveaway in 30 years'

10 February 2011

The Liechtenstein Disclosure Facility is the biggest tax giveaway in 30 years and advisers should consider using it to bring clients’ offshore money back to the UK, according to tax advisers Crowe Clark Whitehill.

MPs don't want CPMA to be consumer champion

10 February 2011

MPs have called on the Government to scrap plans to promote the new Consumer Protection and Markets Authority as a consumer champion.

Fund managers unhappy with AIM scrutiny

8 Feb 2011

Research suggests 40 per cent of fund managers are unhappy with scrutiny of natural resources on AIM.

Draft code for Guernsey Qrops launched

7 Feb 2011

Guernsey Association of Pension Providers has launched a draft code of practice on Qualified Registered Overseas Pension Schemes, which aims to clarify what is allowed under the scheme.

Government considers fresh non-dom tax

7 Feb 2011

Treasury considers new levy on non-doms to fund lifting income tax threshold to £10,000.

Garnier to attend Panacea RDR Question Time Pt II

4 Feb 2011

Conservative MP and Treasury select committee member Mark Garnier will be among panelists on 7th March

Creating new regulation is too easy, says Redwood

3 Feb 2011

Redwood says the way regulation is put on the statute book needs reforming to slow “ferocious” pace of regulation.

MPs say CPMA should not be a consumer champion

3 Feb 2011

Treasury select committee says Govt should scrap plans to promote CPMA as a consumer champion.

EU is urged to look at staff pensions

3 February 2011

The economic and monetary affairs committee has backed a call for a review of European Union staff pensions brought forward by Conservative MEP Vicky Ford.

Do not back-track on cuts, IFS tells Osborne

2 Feb 2011

The Institute of Fiscal Studies says Govt should not react to last week’s poor GDP figures.

Mutuals and MPs join call for FSCS shake-up

2 Feb 2011

MPs and mutuals have joined advisers’ calls for an urgent review of Financial Services Compensation Scheme funding.

TSC member "horrified" by the MMR

1 Feb 2011

Labour MP George Mudie says MMR seems personal and will rob lenders of discretion.

Tyrie calls for more disclosure on bankers' pay

31 Jan 2011

TSC chair Andrew Tyrie writes to FSA chief executive Hector Sants asking for as much disclosure as possible on top flight executive pay.

120 MPs push for financial education in schools

31 Jan 2011

MPs push for compulsory education to ready youngsters for “increasingly complex financial world”.

Raise interest rates or face upward pressure on wages, says MPC's Weale

31 Jan 2011

Weale: A modest raise now would help stop upward pressure and could be cheaper in the long run.

Sants questions value of cost benefit analyses on EU regulation

27 Jan 2011

FSA chief executive questions whether analysing costs of European regulations represents good value for money.

IBC looks at ringfencing retail banks

27 January 2011

The Independent Banking Commission is looking at ringfencing retail banking and considering how that might affect banks’ ability to wind down with minimal disruption to retail financial services.In a speech to the London Business School on Saturday, IBC chairman Sir John Vickers ruled out “narrow” forms of banking, where banks work purely as low-risk deposit-taking institutions but he said some separation may be required to allow banks to fail.

JJB Sports fined for disclosure failures

26 Jan 2011

FSA fine JJB £455,000 for discolsure failures which led to a false market in JJB shares.

Recovery has ground to a halt, says Balls

25 Jan 2011

Shadow Chancellor Ed Balls says today’s GDP figures show the “first signs” of Government policy hitting the recovery.

Banking Commission considers ring-fencing retail banking activities

24 Jan 2011

IBC chairman John Vickers rules out separating universal banks completely in favour of looking at ring-fencing retail banking.

'Parliament could have found a solution to the RDR problems'

21 Jan 2011

Labour Shadow Treasury financial secretary Chris Leslie says Parliamentary scrutiny of financial regulation could be a solution to the “democratic deficit” between legislators and regulators.

OFT: CPMA should have statutory objective to promote competition

20 Jan 2011

John Fingleton tell TSC consumer inertia is the “big block” to competition.

No CPMA veto for select committee

20 January 2011

The Treasury select committee will not have the power of veto over the appointment of the chief executive of the Consumer Protection and Markets Authority.

Bailed-out EU countries should get interest rebates, says MEP

17 Jan 2011

Lib Dem MEP Sharon Bowles says high interest rates mean richer countries stand to gain at the expense of poorer ones.

Garnier plea fails to bring out pro-RDR IFAs

14 Jan 2011

Treasury select committee member Mark Garnier says he has not seen an increase in correspondence from pro-RDR IFAs following his call for supporters to come forward.

Who will get CPMA top job?

13 Jan 2011

Who are the front-runners for the top role at the Consumer Protection and Markets Authority?

LibDems turned down King briefing in coalition talks

13 January 2011

Liberal Democrat MPs negotiating the coalition deal twice refused to be briefed by the governor of the Bank of England for fear of feeling pressurised into policy decisions, according to LibDem MP David Laws.

Labour accuses Government of rewriting history over deficit

12 Jan 2011

Shadow Treasury chief secretary Angela Eagle says the Government wrongly blames Labour instead of the financial crisis.

Barclays says taxpayers should not bail out banks

11 Jan 2011

Chief executive Bob Diamond says regulators should be able to wind down institutions which get into financial difficulties.

TSC to press Barclays' Diamond to give up bonus

10 Jan 2011

TSC member John Mann says Diamond will face “tough questions”.

Aifa in plea for rethink over charging and exam deadline

6 January 2011

Aifa has called for greater flexibility over the RDR qualification deadline as part of an eight-point plan to improve the delivery of the review.

Calls for capital tiered tax to replace IHT

5 Jan 2011

The Government should replace IHT with a tiered system to increase revenues, according to the IPPR.

Miliband: VAT rise is wrong tax at wrong time

4 Jan 2011

Labour leader Ed Miliband attacks the LibDem’s for supporting a policy they attacked in opposition.

Government consult over Ucits IV

22 Dec 2010

The Government have launched a consultation into the implementation of the new Ucits directive.

Steve Webb recorded criticising Government policy

21 Dec 2010

Pensions minister has been secretly recorded by the Daily Telegraph raising concerns about child benefit cuts.

Chancellor suggests VAT rise is permanent

17 Dec 2010

George Osborne says the rise in VAT due in January will be permanent to deal with structural deficit.

Burns Anderson to take on 'orphan' clients

16 Dec 2010

Honister Capital is planning to expand the small employed arm of Burns Anderson to take over the clients and assets left behind by retiring Honister advisers.

Aifa calls for flexibility over RDR deadline

16 Dec 2010

Aifa director general Stephen Gay calls on the FSA to be flexible over the 2013 deadline as part of an eight point plan he says will improve implementation.

MP slams FSA evidence for RDR qualifications

16 Dec 2010

Harriett Baldwin says not enough evidence has been supplied to justify QCF level four.

FSA to publish more detail over RBS decision, says TSC chair

15 Dec 2010

TSC chairman Andrew Tyrie says he understands the FSA will approach RBS for permission to release information.

Local Government pension deficit 'is £100bn'

15 Dec 2010

Local Government pension deficit totals £100bn, according to independent pension consultant.

Barnier: Bankers' threats to leave are blackmail

14 Dec 2010

EU internal market commissioner says EU bonus rules are unlikely to lead to a flight of talent.

Metrobank: Product driven approach of banks leads to poor service

14 Dec 2010

Metrobank tells TSC UK banks are based around selling products which leads to consumer detriment

Avoid the index for best returns, says Martin Currie

13 Dec 2010

Head of intermediary sales Alan Burnett says the best active managers do not hug the index.

Lord Myners calls for break up of state supported banks

13 Dec 2010

Ex-city minister calls for some banks to be split and for the banking commission to focus on boosting competition.

TSC chief Andrew Tyrie thinks FSA will listen to reason

10 Dec 2010

Tyrie confident regulator will heed MPs’ words.

Twin peaks regime will add extra layer of costs

9 Dec 2010

Treasury select committee member Andy Love says the fact that some firms are regulated by two bodies will mean higher costs.

Leslie points to mass concern at RDR

9 December 2010

Leslie: ’We do not want to reduce propensity to seek independent advice’

RBS says it uses data to help sales

9 December 2010

Royal Bank of Scotland has defended using information from customers’ current accounts to increase sales of financial products.

Treasury has vital part in accountability

9 December 2010

A lack of depth in the Treasury’s understanding of financial services could undermine its role of holding the new regulator to account, according to Cicero Consulting director Iain Anderson.

FSA may keep HBOS and B&B reports secret

7 Dec 2010

FSA will only release information in the case of successful enforcement action, despite political pressure

It would have been wrong to raise rates, says King

2 December 2010

Bank of England governor Mervyn King has defended the decision not to raise interest rates and says the sustained run of inflation is due to temporary shocks.Giving evidence to the Treasury select committee last week, Mervyn King said those shocks include exchange rate changes, rises in commodity prices and VAT increases.

MPs want IFA evidence in RDR probe

2 December 2010

Treasury select committee members have urged IFAs to write to them with evidence following news that the committee is to consult on the impact of the retail distribution review.

Providers to come under IMD scope

2 December 2010

The European Commission has confirmed plans for insurance companies to be included within the insurance mediation directive.

Baldwin calls on FSA to listen to MPs after parliamentary debate

30 Nov 2010

Conservative MP Harriett Baldwin says the regulator should listen to the growing swell of MPs calling for rethink.

Mark Garnier: "Let's hope FSA pays attention to Parliament"

29 Nov 2010

MPs call on the FSA to listen to Parliament ahead of tonight’s RDR debate.

MPs want repo aid after cut in support scheme

26 Nov 2010

MPs have called on the Government to work with lenders to stop people losing their homes after a cut in the income support for mortgage interest scheme.

Insurance companies to be included in IMD

26 Nov 2010

The European Commission has confirmed plans to include insurance companies in the Insurance Mediation Directive.

Bank risk could be pushed on public

25 November 2010

MPs were told by FSA chief executive Hector Sants there is a danger of risk being pushed out of the banking system and on to consumers.

'Central banks have no way of spotting bubbles'

25 November 2010

Central banks have no accurate way to spot an asset price boom, says Bank of England monetary policy committee external member Adam Posen.

FSA considers losing fifth of advisers is acceptable

25 November 2010

The FSA believes that losing up to 20 per cent of IFAs is an acceptable cost to deliver the specific improvements brought in by the retail distribution review.

MPs set to debate impact of the RDR

25 November 2010

The House of Commons’ debate about the impact of the retail distribution review on financial advisers will be held on November 30.

'Where's the cost-benefit analysis on axing FSA?'

25 November 2010

The Government has failed to provide a cost-benefit analysis that justifies its plan to scrap the FSA in favour of a twin peaks regulatory system, according to the Small Business Practitioner Panel.

Return to securitisation boom ruled out

24 Nov 2010

FSA chairman Lord Turner says that most of the securitisation used to fund mortgage lending before the crisis will not return.

Ireland should split from eurozone rather than accepting bailout, says MP

24 Nov 2010

Conservative MP Douglas Carswell says decoupling and defaulting on debt would boost growth prospects.

FSA says up to 20 per cent drop in IFAs is acceptable

23 Nov 2010

FSA says losing a fifth of advisers acceptable costs for RDR.

Axa Elevate to power investment platform

18 November 2010

Sesame Bankhall Group has launched an investment platform with Axa Elevate.

Double-tax peril in 'VAT' plan for financial services

18 November 2010

’You are not just taxing consumption but also the means with which consumption is purchased.”

No-growth years set to undercut recovery plans

18 November 2010

The UK faces a sustained period of no economic growth which would undermine the Government’s plans for a growth-led recovery, according to Treasury select committee member Andy Love.

Regulation reforms face 2012 challenges

18 November 2010

Treasury select committee member Andy Love says the coalition will have to overcome major challenges if it is to successfully implement its regulatory reform programme by 2012.

Sesame Bankhall launches protection panel

18 Nov 2010

Zenith features products from six protection providers.

'UK's advantages will avert offshore exodus'

18 November 2010

Conservative MP Mark Garnier insists the UK’s changing regulatory and tax environment will not result in an exodus of firms from the financial sector.

Government may dilute bank pay plan

16 Nov 2010

Bonus breakdown likely to be replaced by size of pool.

Sesame Bankhall launches investment platform with Axa Elevate

15 Nov 2010

Sesame One is available immediately to Bankhall members, but Sesame advisers face accreditation process.

Sesame to launch 18-month IFA school

15 Nov 2010

Sesame Bankhall says delayed IFA school will now launch next year.

BSA attacks "irrational pessimism" of regulators

12 Nov 2010

BSA chairman warns regulators not to force mutuals into a “Plc straitjacket”.

IFA Life promotes best practice in social media

11 Nov 2010

IFA Life is launching a best practice guide to social networking, which aims to help advisers use the medium effectively and compliantly.

Extra Equitable Life payments bill defeated

10 Nov 2010

MPs have voted down a proposed amendment to widen Equitable Life compensation payments.

Webinar service launches to help IFAs get ready for RDR

4 Nov 2010

A new website is offering online seminars to help IFAs adapt to the changes required by the retail distribution review.

Age rise to 68 will push 75% on to disability benefits

4 November 2010

Three-quarters of people will be unable to work or will be restricted in what they can do by their health if the state pension age rises to 68, according to a leading public health academic.

House prices fall 0.7% as rate of decline quickens

4 November 2010

House prices fell by 0.7 per cent in October and the quarterly rate of decline has accelerated to 1.5 per cent, according to Nationwide.

Osborne: Budget will be on March 23

4 Nov 2010

The Chancellor of the Exchequer has announced the 2011 Budget will be on March 23, 2010.

Labour Party calls for rethink on RDR grandfathering

1 Nov 2010

Shadow Treasury minister says the FSA should look at grandfathering for experienced advisers.

Crisis warning by LSE chief

29 Oct 2010

Plans to merge the UK Listing Authority and Financial Reporting Council could be sowing the seeds for a future crisis.

Select committee chair wants high-rate relief ditched

28 Oct 2010

The chair of the work and pensions select committee has called for higher-rate pension tax relief to be scrapped.

Hoban is hammered by IFAs over 'calculated' Mac gibe

28 October 2010

Advisers have slammed Treasury financial secretary Mark Hoban’s comments likening the current minimum qualification level for IFAs to a diploma course offered by McDonald’s.

MPs' bid for debate on RDR rejected

28 October 2010

A request from two MPs for a full Parliamentary debate on the impact of the retail distribution review has been turned down.

Brussels hedge fund rules 'will cost investors'

27 Oct 2010

New rules agreed by Brussels for alternative fund managers will increase compliance costs, say reports

Full Parliamentary RDR debate request turned down

26 Oct 2010

A request for a full parliamentary debate on the impact of the RDR has been turned down for now.

Precise Mortgages moves into residential lending

26 Oct 2010

Precise Mortgages to move into owner-occupier lending from November

Cameron launches £200bn infrastructure plan

25 Oct 2010

The Prime Minister has launched an infrastructure plan to show where economic growth will come from.

ABI backs our savings campaign

22 Oct 2010

The Association of British Insurers backs Money Marketing’s Pave the Way to Save campaign in Parliament.

MPs frustrated with RDR trade body grilling

21 Oct 2010

TSC members outline major concerns about RDR impact and express frustration about the way IFA bodies responded to their grilling.

Call for the FSCS to be formally accountable to PRA and the CPMA

21 October 2010

Financial Services Compensation Scheme chairman David Hall has called for the FSCS to be made formally accountable to both the Prudential Regulation Authority and the Consumer Protection and Markets Authority.

'FOS is quasijudicial but does not act like regulator'

21 October 2010

Financial Ombudsman Service chief executive Natalie Ceeney says the FOS is “unashamedly quasi-judicial” but insists it does not act like a regulator.

Insurance firms damaged by changes to UK and Euro rules

21 October 2010

Vipond: ‘Costs keep growing’

MP wants single body to regulate

21 October 2010

Future regulation should be carried out by a single body under the Bank of England, with the regulator pleading for its budget from the Treasury select committee, according to MP Douglas Carswell.

TSC calls for FOS to calculate costs

21 October 2010

The Treasury select committee has asked the Financial Ombudsman Service to calculate the total compliance cost of the scheme for firms after it was unable to give the details to MPs.

CSR: Alexander: Reductions will hit front line services

20 Oct 2010

Public Services will use ’different ways’ to deliver outcomes people want with less money.

CSR: EU should share pain of spending cuts, says MEP

20 Oct 2010

Today’s EU budget increase is not in line with cuts being made by member states, according to an MEP

CSR: Osborne says turning back on cuts will lead to ruin

20 Oct 2010

Osborne tells the House of Commons a financial catastrophe will “never” happen again.

Blanchflower: Spending cuts are 'cowardice'

19 Oct 2010

David Blanchflower believes the Government cuts show ’appalling cowardice’ and criticises business leaders who support them.

Labour calls for targeted tax rises to address the deficit

18 Oct 2010

Shadow Chancellor says tax rises which avoid low and middle income families should be doing more of the work in cutting the deficit.

BSA says new financial regulation rules are anti-competitive

15 Oct 2010

BSA chief says the rules conflict with the Government’s commitment to sector diversity and the promotion of mutuals.

Aifa warns that FSA could stifle product innovation

14 October 2010

Aifa is warning that the FSA’s plans to get involved at an earlier stage of product development could stifle innovation and push up costs.

Public sector needs to pay more

14 October 2010

Public sector workers should pay higher contributions into their pension schemes, according to Lord Hutton.

Banks commit to 'help businesses thrive and grow'

13 Oct 2010

BBA Business Finance Taskforce commits to 17 action points aimed at improving customer relations.

Finance Bill being debated

11 Oct 2010

The Finance (No.2) Bill which provides the legal basis for changes in the budget is being debated in the House of Commons

Ed Miliband unveils Shadow Cabinet

8 Oct 2010

Johnson to be Shadow Chancellor, Ed Balls Shadow Home Secretary and Yvette Cooper Shadow Foreign Secretary

Lord Hutton: Public sector workers should pay more into pensions

7 Oct 2010

John Hutton report will look at collective DC schemes and hybrid schemes for public sector workers.

'Your country needs you', says David Cameron

6 Oct 2010

Prime Minister calls on people to ’seize the opportunity’ the Big Society will provide.

Government plans to introduce a tax break for married couples

5 Oct 2010

The Government may introduce tax breaks for married couples by the next election, according to reports.

Osborne defends plans for the economy

4 Oct 2010

Chancellor says plans for the economy have restored confidence and put Britain on sustainable path.

Webb backs Napf on foundation pension

30 September 2010

Pensions minister Steve Webb has slated the state pension system as “hopelessly inadequate” and hailed the National Association of Pension Funds’ idea of a foundation pension.

FSA urged to keep UK competitive

29 Sep 2010

The FSA should avoid rushing through new regulation and instead work with global regulators to maintain the UK’s competitiveness, says The CityUK chief executive Chris Cummings.

RoyLon warns Nest will cut IFA sales

23 Sep 2010

The introduction of Nest is likely to result in a loss of business for IFAs because employers will have access to “standardised” pension schemes, says Royal London.

Advisers slam LibDems claim they are ‘a doomed species’

22 Sep 2010

Advisers react strongly to Liberal Democrat Treasury spokesman Lord Newby’s claims.

Euro Parliament votes through new pan-European regulator

22 Sep 2010

MEPs give the European Supervisory Authorities the green light.

Cable attacks Labour leadership candidates

20 Sep 2010

Vince Cable says he is alarmed that leadership candidates do not recognise Labour’s contribution to the crisis.

LibDems launch £7bn tax avoidance crackdown

20 Sep 2010

The Liberal Democrats warn tax dodgers to “think again”.

Ignis wants plan B with return of QE

16 September 2010

Further quantitative easing should be introduced as soon as possible to offset the fiscal tightening in the Government’s upcoming comprehensive spending review, according to Ignis Asset Management.

Redwood rejects casino claims

16 September 2010

Conservative MP John Redwood believes that reckless casino banking was not to blame for the financial crisis and says forcing banks to separate investment and utility banking could see many move offshore.

Treasury proposes new regime to minimise impact of investment firm failures

16 Sep 2010

Treasury says its new proposals will not hike up regulation costs.

MP questions whether FSA withdrew pensions from Equitable Life

15 Sep 2010

Liberal Democrat MP Stephen Lloyd asks if FSA withdrew pensions before the firm’s collapse.

Governor of Bank of England will be 'too big to fail'

14 Sep 2010

Once the Bank of England assumes control of the PRA the office of governor will be too big to fail, according to Lord Myners.

Basel Committee expected to raise capital reserve limit to 7%

10 Sep 2010

Basel Committee expected to increase the core minimum capital reserve limit from 2 per cent to 7 per cent.

Brown's pension threat

9 September 2010

David Miliband wins backing

9 September 2010

The Blair memoirs, released on the day that ballot papers for Labour’s leadership campaign were sent out, contains reflections on some of the candidates.

IMF calls for tax evasion crackdown

9 September 2010

The International Monetary Fund has called for a crackdown on cross-border tax evasion and suggested the creation of a World Tax Organisation to co-ordinate efforts.

Odd couple was a blunder

9 September 2010

The New Labour administration’s first welfare ministerial team was a “dating agency from hell mistake”.

PosSol appoints compliance and risk director

9 Sep 2010

Positive Solutions has appointed James McCourt as compliance and risk director.

Richard Leeson joins AXA Wealth International

8 Sep 2010

Prudential International’s offshore guru quits to join AXA.

HSBC chairman to become Govt trade minister

7 Sep 2010

Green to quit bank to join the Government, according to the BBC.

Brokers welcome Balls' plan for VAT cut

3 Sep 2010

Brokers have welcomed a plan from Labour leadership candidate Ed Balls to slash the rate of VAT on home repair, maintenance and improvements.

Cash deals urged to change Nimby views

2 September 2010

Cash incentives should be offered to people to prevent Nimbyism from standing in the way of housebuilding projects, according to Policy Exchange.

Thinktank slams equality criticism of the Budget

2 September 2010

A fellow at the Institute of Economic Affairs has criticised the Equality and Human Rights Commission for pushing the Treasury to show it has considered the impact of the Budget and the spending review on vulnerable groups.

Ed Balls calls for housing reform

31 Aug 2010

Labour leadership candidate calls for £6bn affordable housing spend and lower VAT on housing repairs.

GDP grows by 1.2 per cent in Q2

27 Aug 2010

ONS revises growth figures up slightly.