Regulation

The Financial Conduct Authority (FCA) and US authorities have hit five banks with fines totalling £2bn for failing to properly control their foreign exchange practices.

New rules have been announced by the Financial Stability Board (FSB) that propose preventing large banks from being bailed out by the taxpayer.

Professional Adviser has obtained the latest list of advice firms being pursued as lead defendants by the Financial Services Compensation Scheme (FSCS) in relation to Keydata sales.

Codename Project Minerva: Sesame's past business review uncovered

A further 12 advice firms have been declared in default by the Financial Services Compensation Scheme (FSCS).

Wealth manager Towry has signed a deal with risk profiling software developer FinaMetrica, which will see the firm's risk tolerance software rolled out across Towry's financial planning and investment processes.

Compensation paid out by the Financial Services Compensation Scheme (FSCS) to customers of failed advice firms has so far totaled almost £1bn.

Bank of America has set aside $400m (£253m) due to rising litigation costs associated with an investigation into foreign currency manipulation at the bank.

The liquidated Connaught fund is to sue its former authorised corporate directors on behalf of a group of investors, investment platforms and the trustee of a unit trust.

The Financial Ombudsman Service (FOS) has directed a complainant to his former adviser after ruling a charge levied on his investment by his platform was "fair and reasonable".