The Bank of England has held interest rates at 0.5% and kept its quantitative easing programme at £200bn - despite growing calls for a rate hike amid spiralling inflation.

Towry head of marketing Peter Foster has left the company to pursue other opportunities.

TISA is undertaking an independent review into distributor-influenced funds (DIFs) as it looks to deliver an industry-wide solution to ongoing concerns around their suitability and charges.

FSA chief executive Hector Sants says the FSA might consider re-introducing a long-stop for advisers.

The FSA today said it will take action against those firms churning out trail commission ahead of RDR.

Hector Sants stressed the FSA is "completely accountable" when grilled by the TSC over the thorny issue of democratic accountability and redress.

The FSA has defended its stance towards the commission ban but conceded the new charging structure could still be biased.

The FSA says it will put in place a post RDR programme to monitor levels of consumer trust in advisers.

FSA chief executive Hector Sants has told the Treasury Select Committee (TSC) the RDR is not designed to bridge Britain's savings gap.

A row over the Chartered Insurance Institute's (CII) R01 study material has reignited after an aspiring financial adviser questioned its relevance.