Regulation

Royal Bank of Scotland (RBS) will have to undergo an independent skilled person review of its lending practices following allegations that it put some good and viable businesses into default so it could boost profits.

Ed Harley, head of asset management at the Financial Conduct Authority, has left the regulator to take up a role at Goldman Sachs Asset Management.

Consumers priced out of full advice may yet be able to seek the expertise of an adviser via a chargeable "dip in, dip out" information-only model, according to Cofunds distribution director Andy Coleman.

The High Court has ordered into liquidation a property investment scheme promoted by former Manchester United footballer Lee Sharpe.

Royal Bank of Scotland's new chief executive, Ross McEwan, has denied claims the bank 'systematically' ran small businesses into the ground, and said the allegations have damaged RBS' reputation.

IMPERMEABLE

The Upper Tribunal has upheld a decision by the Financial Conduct Authority (FCA) to fine investment adviser Westwood Independent Financial Planners £100,000 for mis-selling geared traded endowment policies (GTEPs).

Most American expatriates have at least questioned their US citizenship due to the impact of the Foreign Account Tax Compliance Act (FATCA), a survey suggests.

The Royal Bank of Scotland is facing a criminal investigation over allegations the bank forced small businesses into default, according to reports.

The Financial Conduct Authority has fined asset manager SEI Investments over £900,000 for failures relating to its handling of client money over a five-year period.