The government says it will increase the levy on bank profits to £2.5bn this year, to raise an extra £800m for the public purse.

2plan, the national IFA, will stand trial at the High Court in Leeds on Monday accused of "fraudulent misrepresentation" by an IFA seeking £500,000 in damages from the company.

The Investment Management Association (IMA) is considering bringing a judicial review of the FSCS interim levy on behalf of its members, in the same week IFAs have erupted in open revolt over the issue.

The number of IFAs in FSA enforcement action is rising because of "mad and manic" regulation which goes further than that of any other G20 country, says a leading City lawyer.

Sterling rose to a fresh three-month high versus the dollar this morning after UK services data came in above expectations.

Government plans to make the Consumer Protection and Markets Authority (CMPA) a ‘consumer champion' are "inappropriate, confusing and potentially dangerous", and should be dropped, the Treasury Select Committee (TSC) says.

Financial advisers under FSA investigation are forced to undergo a police-style ‘interrogation' at Canary Wharf and are threatened with losing their permissions if they refuse to answer all of the regulator's questions, according to a solicitor close...

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.