Bank of Scotland has been fined £4.2m by the Financial Services Authority (FSA) for failing to keep accurate mortgage records.

Resolution has confirmed its chairman Mike Biggs will leave the company after its governance overhaul.

Sun Life Assurance Company of Canada (UK) Limited (SLOC UK) has been fined £600,000 by the Financial Services Authority (FSA) for failings in the governance of its with-profits business.

RETIREMENT

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Most clients go to an adviser primarily for practical reasons but many value the emotional reassurance the process brings them, research from Standard Life has found.

Suffolk Life has introduced three more discretionary fund manager (DFM) partners to SimSIPP wrapper.

Just Retirement has reported record sales of annuities and equity release mortgages totalling almost £1.5bn and increased its operating profit by 15.7% to £87.1m.

RSM Tenon Group has posted revenues down 8.8% to £208m after a "really tough" year which saw 400 staff made redundant.

Royal Bank of Scotland (RBS) has left the government's asset protection scheme which guarantees against losses from banks' riskiest assets.