The Treasury is preparing to water down a key recommendation in the Vickers report that would protect savers in the event of a bank going bust, according to reports.

The Financial Ombudsman Service has revealed the details of a provisional judgement against an IFA who invested clients in Arch Cru.

The FSA has banned a hedge fund manager and fined him £14,000 for failing to spot attempts by an employee to hide huge losses caused by the collapse of Lehman Brothers.

The Financial Services Authority (FSA) will face questions from Arch Cru investors at a hearing on Wednesday on the regulator's role in the downfall of the fund range - and the £54m redress deal - despite not being allowed at the meeting.

Red tape will cost the City up to £1.4bn a year from now on, according to Financial Services Authority figures.

The Gaines-Cooper case has been a catalyst for a much needed statutory residence test to bring clarity and certainty to an area governed largely by case law and HMRC guidance, says Stuart Long, head of tax at law firm Howard Kennedy.

Hargreaves Lansdown plans to charge investors who hold certain tracker funds on its Vantage platform a flat fee of up to £2 per month, compared to the current annual rate of 0.5%.

The Financial Ombudsman (FOS) is warning consumers not to fall for a cold calling scam in which the fraudsters claim to be from the service.

Royal Bank of Scotland is facing legal action over the collapse of MF Global after two pension funds accused the bank of making misleading statements about the broker's $6.3bn (£3.9bn) exposure to European sovereign debt.

A Barclays manager and a personal banker have been jailed for a £1.4m fraud of elderly customers, in a crime linked to organised gangs.