Regulation

IFA consolidator Bellpenny has bought two more businesses with combined funds under management of £187m.

The Financial Ombudsman Service (FOS) plans to freeze the levy it collects from firms and cut its budget by 20% over the coming year.

National IFA firm Foster Denovo has appointed former Financial Conduct Authority (FCA) supervisor Jane McTigue as compliance and risk director.

Treasury committee chairman Andrew Tyrie has called on the regulator to scrap the "fundamentally flawed" approved persons regime for advisers and instead align the sector with the new standards being brought in for the banking industry.

A Conservative MP has warned annuities could become the next financial services mis-selling scandal without an urgent and radical overhaul.

Government plans to increase spending on state pensions have been criticised as "unaffordable and irresponsible" in a report by a free market think tank.

Skandia has extended its ‘Best Start in Life' trust to the UK platform in light of demand for the planning solution through the international business.

The Association of Professional Financial Advisers (APFA) has called on the regulator to adjust next year's fees for advisers to "correct the error that occurred" in the previous year.

A client who protested about commission being taken from his pension without his permission and without receiving ongoing advice in return has had his complaint rejected by the Financial Ombudsman Service (FOS).

The Financial Conduct Authority (FCA) has issued a prohibition order against a financial adviser currently serving prison time for six counts of fraud.