Regulation

Small firms caught up in the mis-selling of complex interest rate derivative products face up to a nine month wait to hear if they qualify for compensation.

Asset management boutique Newton, a subsidiary of BNY Mellon, is set to launch fully unbundled Retail Distribution Review (RDR)-ready share classes across its entire fund range in September.

FATCA

UK-listed banking giant Standard Chartered saw its UK share price fall by almost a quarter in early morning trading following allegations it assisted in a $250bn money laundering scheme.

The UK's highly-prized AAA-credit rating should not be seen as the 'be all and end all' of government policy, Chief Secretary to the Treasury Danny Alexander has said.

A premium charged on products and investments could part-fund the Financial Services Authority (FSA) and Financial Services Compensation Scheme (FSCS) and ease the burden of regulatory costs on advisory businesses, IFA support group Tenet has suggested....

Charges on exchange traded funds (ETFs) and other low-cost products could rise following the introduction of new European rules, according to a report in the Financial Times.

Barclays Bank is considering a new remuneration process which would see bonuses for its top executives reduced and payment deferred until they have retired.

Bankers found to have rigged LIBOR rates could face jail time after the Serious Fraud Office (SFO) said it would look to bring criminal charges against perpetrators, the Telegraph reports.

Standard Life and Aviva have said that a letter from the Honister administrator to advisers stating it would not approve the bulk transfer of ex-Honister client agencies will not affect their decision on the issue.