A £400,000 FSA fine and lifetime ban for a company involved in a "blindingly obvious" boiler room scam has been upheld by a tribunal.

Advisers are split over the impact of the Tory u-turn on a planned rise in the inheritance tax (IHT) threshold, which was a casualty of the Con-Lib coalition negotiations.

Advisers have warned a significant number of their drawdown clients will be stuck in poor value pension schemes for years to avoid a 55% tax penalty the HMRC assured providers "wouldn't be an issue".

The main UK index recovered from a mixed morning as investors assessed the new coalition Government, closing up 46.24 points or 0.92% to 5,383.45.

Take a look at the mix of Tory and Lib Dem MPs who will be running Britain for the next five years.

Advisers warn a proposed substantial rise in capital gains tax (CGT) on so called 'non-business' assets could damage fragile investor activity.

The new coalition government has agreed to scrap compulsory annuitisation at 75 and hold a review to decide when the state pension age will rise to 66.

Mercenary sales practices used by bank staff have been uncovered in an internal document leaked by a Barclays sales manager.

Both former shadow chancellors George Osborne and Vince Cable have been given positions in the new Coalition cabinet.

Capital Gains Tax(CGT) is set to rise on so called 'non-business' assets under the new Coalition Government to help reduce income tax for low earners.