The FSA has accepted it cannot deliver perfect results for consumers regardless of the level of resources for supervision, chairman Adair Turner said today.

UK inflation dropped for a second consecutive month to 3.2% in June, driven by falling petrol and clothing prices, according to the Office for National Statistics.

Cautious Managed was the top selling sector on Cofunds in Q2 as advisers look to outsource investment decisions to multi-managers in the run-up to RDR.

BP is gearing up to unveil a $40bn (£26.5bn) defence strategy in the teeth of growing speculation US predators have been given the green light by Washington to swoop on the British company.

HSBC, Barclays and RBS are among 15 Wall Street banks accused by a US investment firm of mis-selling a total of $2.4bn (£1.6bn) in mortgage-backed securities.

Allfunds' Holly Mackay says Brett Williams' shock departure has come at a crucial point in platforms' development.

The Bank of England's Monetary Policy Committee (MPC) today held interest rates at their historic low of 0.5%.

Industry figures have painted a "nightmare scenario" resulting from the break-up of the FSA with "horribly troublesome" turf wars breaking out between new regulatory bodies with overlapping functions.

Updated 2pm: The FTSE posted triple-digit gains in afternoon trading today as renewed optimism about the banking sector buoyed investor sentiment.

IFAs around the world have responded positively to the challenges of the financial crisis and welcome stricter regulations, according to the Association of International Life Offices (AILO).