The Financial Ombudsman Service (FOS) is set to ask the Financial Services Authority (FSA) to increase the amount it levies firms by £5.3m to £23m.

The Financial Ombudsman Service (FOS) is proposing to increase the individual fee for firms who have complaints against them from £500 to £550 per case, but will also up the number of 'free' cases to 25.

The Financial Ombudsman Service (FOS) has said the number of complaints it has received about investments has increased by a third this financial year.

The City of London is bracing for fresh job cuts after Morgan Stanley became the first investment bank to swing the axe this year.

The Financial Services Authority (FSA) has pledged to work with firms in 2013 as it carries out a series of thematic reviews into how the Retail Distribution Review has been implemented.

Advisers remain cautious about the prospects for the UK in 2013 and over the ability of Prime Minister David Cameron and Chancellor George Osborne to lead the country's recovery, research suggests.

A number of self-invested personal pension (SIPP) providers have stopped taking investments into Caribbean property fund Harlequin Properties according to its biggest UK distributor, after concerns about it were raised by a law firm.

A former director of a financial advice firm has been charged with fraud.

Sesame Bankhall Group (SBG) has appointed Stephen Gazard as distribution director.

Advisers have largely supported a High Court decision to allow a couple to pursue their IFA firm for extra compensation, even though it had already paid them £100,000 following a Financial Ombudsman Service (FOS) decision.