The European Commission (EC) is proposing to abolish execution-only services for non-complex financial products to eliminate uncertainty on which ones qualify as 'simple'.

Ruth Lea, economic advisor to the Arbuthnot Banking Group and senior fellow of the Adam Smith Institute, says 2011 holds some room for optimism but overall the near future isn't bright.

The Financial Services Compensation Scheme (FSCS) has kicked off its £4m consumer awareness campaign with a plasticine man being decapitated by a bear. Discuss.

FSA chairman Adair Turner may ask the government for the power to block hostile buyouts in the banking sector in a bid to prevent aggressive acquisitions from disrupting financial stability.

The government will allow UK banks to pay out billions of pounds in bonuses this year, despite its calls to curb the payments, according to reports.

Martin Wheatley, head of Hong Kong's financial regulatory body, has emerged as a leading candidate to head the Consumer Protection and Markets Authority (CPMA) when it is spun out of the FSA next year, according to reports.

Facebook will disclose extensive financial information or go public by early 2012 following a $2bn private fund-raising which values the social networking site at $50bn, according to people close to the situation.

MP Mark Garnier has pledged to "pick up the baton and run with it" on the reintroduction of a 15 year long-stop for advisers, starting with lobbying the influential Treasury Select Committee (TSC) on which he sits.

Troubled building society Norwich & Peterborough (N&P) has admitted its advisers gave "inappropriate" advice to a customer who invested the bulk of their SIPP in Keydata, in a case lawyers involved say mirrors dozens of other claims.

The FSCS will reveal how much extra cash it needs from the industry to pay for failures including Keydata and Wills & Co by the end of the month.