Complaints made against personal investment firms, which includes IFAs, rose 48% in the 12 months to 31 December, while the amount paid out in redress to customers increased 42%, figures show.

The financial Ombudsman (FOS) has frozen the fee it charges firms to deal with complaints at £500 for the second consecutive year.

BP shares closed down 2.2% in London yesterday on a report its managers could face manslaughter charges following the Gulf of Mexico oil spill, which could lead to much higher fines over the disaster.

Norwich & Peterborough (N&P) has had its financial strength rating downgraded by Moody's, a week after the building society revealed it faces a £57m Keydata compensation bill.

Tax evaders hiding money offshore have a week to own up or face tax of 200% says HMRC, in its final warning before the end of the financial year.

Scottish Widows Investment Partnership (SWIP) has appointed ex-BlackRock COO Archie Struthers as director of investment solutions.

Harriett Baldwin MP is calling on the government to use a reprieve on red-tape for small businesses announced in the Budget to exempt small IFA firms from the RDR.

The FSA has issued a warning to investors against dealing with unauthorised stockbroking firm Sino Trade Europe which it believes may be targeting UK customers.

The Treasury Select Committee (TSC) is to investigate corporate tax avoidance amid public pressure for action on companies seen as paying less than their fair share.

Standard Life Investments (SLI), one of BP's top 10 investors, has withdrawn its backing for the oil giant's deal with Russian energy group Rosneft after warning share swaps alone "rarely do anything positive".