Networks review adviser’s roll in advising on equity release after regulator’s decision not to introduce standalone qualification.
Case moves to mediation as Godiva’s legal costs hit £241,000
Bank faces fresh accusations of manipulating deals for profit.
Conservatives set out plans for nine trade commissioners “determined by markets rather than borders”
The Prime Minister is insisting the Conservatives’ tax plans have not changed after senior members of the party pledged not to raise income tax on higher earners. The Conservative 2017 manifesto did not rule out income tax rises for the wealthy, according to the FT. But defence secretary Michael Fallon told the Telegraph that voting […]
Mortgage lenders have downplayed the risks in their interest-only back books as they fear consumers could be left underserved by a hamstrung market. The FCA launched its third review into the sector in just five years last week. It unveiled the latest thematic review in its 2017/18 business plan. The business plan says: “Around 1.8 […]
Mergers and acquisitions consultants Dean Street Advisers are being sued for €660,000 (£560,000) by a former contractor who claims the firm never paid him for helping sell the AA’s Irish motoring arm. However, London-based Dean Street denies it owes investment banker Richard Samuel the money and claims he broke his contract by engaging in personal […]
UK house sales were flat in March, according to research from the Royal Institute of Chartered Surveyors. Each estate agent has just 43 properties for sale, the lowest since Rics began collating records in 1994. Around 13 per cent of surveyors saw falls in new property transactions. Rics says the number of properties coming to […]
LV= made a group loss before tax of £49m in 2016 as the mutual was beset by losses coming from pension freedoms. The company made a profit of £124m the previous year. By contrast the mutual’s life and pensions arm profits slightly increased in 2016, from £41m to £45m. The mutual’s heritage businesses, made up […]
MPs are calling for another investigation into Libor rigging following fresh evidence the Bank of England pressured lenders to manipulate the interbank lending rate. BBC Panorama last night reported a secret 2008 recorded conversation between Barclays manager Mark Dearlove and a colleague. According to the recording, Dearlove said: “The bottom line is you’re going to […]
Barclays is docking pay for chief executive Jes Staley after he broke regulations by trying to identify an internal whistleblower. The lender has given Staley a formal reprimand and a “very significant” hit to his compensation, according to the Financial Times. The FCA and the Prudential Regulation Authority are also investigating Staley and his employer […]
Payday lender Wonga has suffered a security breach which may mean criminals have stolen information from 245,000 of its UK customers. Wonga says it is “urgently investigating illegal and unauthorised access to the personal data of some of its customers”. The stolen information includes names, phone numbers, addresses, sort codes and bank account numbers. This […]