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FOS payout cap hike could hit PI costs

An increase in the Financial Ombudsman Service compensation cap for small businesses could hit advisers’ professional indemnity insurance premiums. In a discussion paper published last month on small businesses, the FCA outlined options for expanding the criteria for FOS complaints. It said as a result the maximum award limit might need to be raised from […]

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Towry scraps float plans for quick sale

National advice firm Towry has abandoned plans to float on the stock market in favour of a sale in the new year. In June, private equity backer Palamon Capital Partners met with advisers to discuss a listing but has since hired investment bank Evercore to find new investors. It is expected Palamon will sell its […]

Danby Bloch: Examining the Autumn Statement small print

Now the dust has settled on the Autumn Statement, it is worth taking a closer look to see how it has affected financial planning. George Osborne may have got lucky with some rosy estimates of his expected tax take and could well get away with his giveaways in tax credits and elsewhere. Or he could […]

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Govt extends Lloyds share sale

The Government has extended the period during which it will offload its stake in Lloyds, the part-nationalised bank, by six months. The announcement means the Treasury will continue selling shares in Lloyds to institutional investors until 30 June 2016, before opening up to retail investors. The plan could be stopped before this date to ensure […]

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