Royal Bank of Scotland (RBS) has appointed investment bank UBS to manage the sale of its 316 branches following the collapse of its deal with Santander.

About 500 investors are considering making mis-selling claims against their advisers for recommending unregulated collective investment schemes (UCIS) linked to the film industry over the past ten years, the FT reports.

HSBC is investigating allegations that criminals used offshore accounts at its Jersey business for money laundering and tax evasion, the BBC reports.

RETIREMENT

The man in charge of ensuring Britain's financial stability has warned MPs current plans to make banks safer do not go far enough, the Independent reports.

Aegon has blamed the run up to the Retail Distribution Review (RDR)for a £4m hit on its profits, its latest results showed.

Aviva's programme of job cuts, which will see 800 staff made redundant, is on track to save the insurer £250m by the end of the year, according to latest results.

The industry must work together to solve the problem of the growing "advice gap" which will affect millions of people with small pension savings, a think-tank has warned.

The average 50-year-old has paid three-and-a-half times as much direct tax than they have invested in their pension when they hit 50, according to analysis from MetLife.

The Association of British Insurers (ABI) has launched a consultation on the transparency of annuity rates to ensure consumers approaching retirement get the best deal.