Business volumes in financial services were up in the three months to June fueling optimism in the industry, despite an unexpected fall in profitability, according to a survey by the Confederation of British Industry (CBI) and PwC.
Confidence in UK financial services is at a 17 year high, with firms anticipating a greater recovery in volumes, profitability and employment in the fourth quarter.
The government has announced the members of its new Financial Services, Trade and Investment Board (FSTIB), which will be in charge of promoting trade and attracting investments as part of the government's economic recovery strategy.
The Association of Christian Financial Advisers (ACFA) is supporting legal moves to stimulate increased social investment in the UK.
The Legal Ombudsman has warned the sector is at risk of dragging down its reputation to the level of the financial services industry through the mis-selling of confusing legal products and services.
The government is considering the ability of financial advisers to advise on social investments as part of an effort to boost activity in the area.
An amendment to the Financial Services Bill proposed by two Labour peers could open up the possibility of financial advisers not having to be regulated if they do not charge for their services.
The Financial Services Consumer Panel (FSCP) has told peers they should amend legislation to make it possible to publish warning notices against firms and individuals without consulting them.