"History proves that all dictatorships, all authoritarian forms of government are transient. Only democratic systems are not transient. Whatever the shortcomings, mankind has not devised anything superior." Vladimir Putin

A string of poor retail results have hindered the FTSE's progress as the index ended the day down 47.80 points (0.89%) to 5318.40.

Managing Partners Ltd (MPL), boutique fund manager, is opening an office in Singapore to offer institutional and high net worth investors in the region investment in traded life policies (TLPs).

HSBC Global Asset Management is set to launch the HSBC GIF Middle East and North Africa (Mena) fund by the end of October.

Bank of England governor Mervyn King has admitted no form of regulation or special funding will solve the current mortgage lending crisis.

A TCF acid test for financial advisers has been launched by technology solutions provider 1st The Exchange.

Trustees have less than a month to change the beneficiaries of flexible trusts bought before March 2006 or face new IHT implications which kick-in on 6 October.

A Conservative Party call to suspend home information packs (HIPs) in a bid to reinvigorate the housing market has been slammed.

New wealth management platform Novia has linked with technology provider FinQS to develop tools to aid advisers with TCF responsibilities.

HSBC Global Asset Management will launch a new Middle East and North Africa (MENA) fund by the end of October.