The FSA has appointed small firms director Lesley Titcomb as acting chief operating officer (COO), effective immediately.

The FSCS says it has yet to decide which sub-class will bear the potential costs of compensating clients of private client stockbroker Wills & Co, which has been declared in default.

Besieged BP's share price soared 9% this morning as markets weighed up its value as a takeover target as the current oil spill debacle subsides.

Resolution says it will go ahead with a £2bn rights issue later this month even if the Axa deal falls through, as the proceeds can be used to fund other acquisitions.

The High Court today ordered an investment consultant pay almost £90m to the FSA for unlawfully accepting deposits without authorisation.

The FSA has fined and banned a former oil futures broker for manipulating the price of brent oil after an "extremely heavy" drinking session.

The FSA is consulting on ways to enhance the effectiveness of auditors after saying their work often "falls far short" of what it expects.

BP has denied reports from Russia that Tony Hayward is set to stand down.

The industry has backed FSA proposals to establish an internal model to monitor professional standards rather than set up a new statutory body.

The FSA says it could transfer responsibility for monitoring professional standards to individual firms - providing the industry can persuade the regulator of the merits of such hands-off regulation.