Regulation

Direct to consumer (D2C) business Willis Owen has seen a 20% fall in pre-tax profit last year -and has set aside £45,000 to deal with complaints.

Paraplanners are being invited to take part in an independent ‘powwow' forum event this autumn - with sessions hosted in teepees.

A Chartered financial planner who has spent more than two decades advising clients has quit the industry as he believes many parts of it are still geared towards selling products.

Efforts to stamp out tax evasion appear to be working after figures showed the number of ‘serious' cases hit a five year low.

The Financial Conduct Authority (FCA) has agreed a settlement of proceedings in the High Court which will enable it to return approximately £380,000 to investors in a land bank.

Lloyds Banking Group said it has reduced its outstanding capital requirement to below £2bn, following the £8.6bn aggregate shortfall figure announced yesterday.

Wealth adviser Towry has said it would be "no surprise" if the regulator raises the qualifications bar for advisers to level 6 in the next two to three years.

Many advisers are not prepared to handle incoming minimum capital requirements, according to the Association of Professional Financial Advisers (APFA).

The Financial Conduct Authority (FCA) has pledged to scrutinise "the whole value chain" - including authorised advisers and pension companies - as part of efforts to stamp out pension liberation fraud.

The emergence of a profits-before-ethics culture in financial services skewed employees' view of the industry's purpose and prevented them from challenging immoral behaviour, the Financial Conduct Authority's enforcement boss has said.