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State-backed Lloyds bank has admitted that it mis-sold Scottish Widows structured products to thousands of customers and has said it will now undertake a review of sales, according to reports.

Ronnie Taylor, managing director of workplace at Standard Life, has left the life and pensions provider.

JOBS

The Financial Conduct Athority (FCA) has axed a proposal to cut the fees advisers pay towards the Money Advice Service (MAS) by 94%, and instead will reduce them by just 42%.

The Financial Conduct Authority (FCA) plans to use the element of financial penalties it retains after passing cash to the Treasury to lessen fees across those it regulates.

The Financial Conduct Authority (FCA) is to conduct a "back to basics" review of fees and segmentation of the industry.

Adviser costs for the Financial Conduct Authority (FCA) have been raised 13% to £41.9m for 2013/14.

MOVERS & SHAKERS

GOSLING'S GROUSE

The new City watchdog was last night fighting to defend its chairman amid accusations he enabled HBOS to pursue its reckless lending strategy.