Ashcourt Rowan's operating profit fell to £2.72m for the year to 31 March compared to £2.96m the previous period, as the wealth manager completed its merger into Syndicate Asset Management.

Chancellor George Osborne has called for a tight rein on pay and bonuses and increased lending from the banks as they prepare to announce a recovery in profits this week.

Chinese hedge fund manager Li Lu may be Warren Buffett's successor at Berkshire Hathaway.

The strong growth in the £500,000 plus mortgage market is beginning to slow, according to a property consultancy.

The FSA plans to strengthen its Remuneration Code to encompass over 2,500 firms which will include setting firmer rules on bonus structures for key staff.

Santander UK has reported its profits rose 10% in the first six months of 2010 to £875m.

Mervyn King wants a new breed of regulators focused on public service and not huge banking-style pay packages when responsibility for financial regulation transfers from the FSA to the Bank of England in 2012.

The FSA is urging IFAs to carry out an urgent review of any advice they have given on unregulated collective investment schemes (UCIS) and make redress to customers if needed.

The Council of Mortgage Lenders says the Mortgage Market Review proposals are a "tangible and significant risk" to the UK mortgage market, with a smaller, more risk averse industry likely.

St James's Place (SJP) reported a group operating profit of £162.1m for the first half of 2010, up 60% on £101m for the same period in 2009.