Regulation

Lloyds Banking Group says it is increasing its provision for the mis-selling of payment protection insurance (PPI) by another £1.8bn, bringing the total to nearly £10bn.

Treasury Select Committee chairman Andrew Tyrie has written to the Financial Conduct Authority chief executive Martin Wheatley calling on the regulator to do more to crack down on poor practices in banks linked to sales incentives and remuneration.

The Financial Conduct Authority (FCA) is to appear before the Treasury Select Committee (TSC) for its bi-annual grilling next week.

The Financial Conduct Authority (FCA) has green-lighted its proposed ban on referral payments from discretionary fund managers (DFMs) to financial advisers for top-up business from existing clients.

The former chief executive of the Financial Ombudsman Service (FOS), Natalie Ceeney, has joined HSBC bank to head up its UK customer standards department.

IFA firm Chase de Vere has increased its hourly adviser fee to £250 after completing an annual review into its pricing structure.

A N Other

More than 40% of the 353 advisory firms embroiled in the Arch Cru redress scheme have now been referred on to the Financial Services Compensation Scheme (FSCS), the Financial Conduct Authority (FCA) has confirmed.

State Street UK has been fined £22.9m by the Financial Conduct Authority (FCA) for overcharging clients on a range of financial transactions.

CHARITY