The total general FSCS levy for 2011/12 is likely to be £240m, with the investment intermediation sub-class footing the bill for £40m.

Martin Wheatley, the outgoing chief of Hong Kong's financial regulator, will head up the Consumer Protection and Markets Authority (CPMA) when it is spun out of the FSA.

Fund manager Liontrust must stump up £415,000 for its contribution to the FSCS levy, a near 2000% increase on last year, as the industry continues to pay the cost of a series of investment firm failures.

Nationwide has extended a deal with Legal and General (L&G) to offer investment advice in the building society's branches until at least 2016.

UPDATE: The UK index of 100 leading stocks had jumped 58.87 points to 5921.81 by 2pm, an increase of 1% led by rising commodity prices as civil unrest in Egypt continues.

The FSA is proposing advice firms contribute 2% less to the regulator's funding next year, a cut of £53 per adviser.

Online trading company London Capital Group (LCG) faces compensation claims of up to £5.5m if over a hundred investor complaints to the FOS succeed, according to a solicitor working on the case.

A leading economic think-tank today urged George Osborne to delay the dramatic public sector cuts which underpin his economic policies, and to u-turn on them completely if the economy falters again.

Norwich & Peterborough (N&P) Building Society has transferred its network of 21 IFAs to Aviva citing spiralling costs.

A mortgage broker is suing the FSA for £1.67m for publishing a decision notice stripping him of his regulatory permissions, in what is thought to be the first libel case against the watchdog.