AIFA will propose a split in the FSCS sub-class for investment intermediaries, in a bid to separate out firms where intermediation is only a "secondary activity" and not their main business.

FSA chief executive Hector Sants has said he did not mean to cause offence when he said it was acceptable for 20% of IFAs to leave the industry due to the RDR, but maintains the exits will not harm consumers.

Security organisations across two countries hunting those responsible for the collapse of Icelandic bank Kaupthing arrested nine suspects in dawn raids this morning.

The FTSE100 fell in early trading as concerns over EU debt problems offset any reassurance the market might take from easing oil prices.

Prudential has reported UK new retail business profits of £257m, up 15% on last year.

Jon Pain, formerly managing director of the FSA, will join KPMG as a partner working in its regulatory practice.

An IFA who stole more than £90,000 of clients' life savings to pay his own debts has been jailed for nearly two years today.

Software giant Google has bought UK price comparison website BeatThatQuote.com for £37.7m ($61m) as it expands into the sector specific search market.

Norwich & Peterborough (N&P) building society has its back against the wall this morning after the FOS ordered it to compensate a customer exposed to Keydata products, in a case victims say mimics hundreds of others.

Axa's head of pensions will leave the life company today after his team was split in Resolution's part buyout of the business.