Most newspapers are this morning following up news of Scottish Amicable's £750,000 fine from the FSA...
Most newspapers are this morning following up news of Scottish Amicable's £750,000 fine from the FSA yesterday for mortgage endowment mis-selling.
However, there seems to be little else happening in the finance sector, except for those with an interest in stock trading.
Other news suggests proposals from the Higgs report - to reform the set-up of UK boardrooms, is likely to be watered down after protest from FTSE 100 companies, says the Times.
Officials at the Financial Reporting Council, the body which drew up the corporate governance rules, say some aspects of the plans could be detrimental to boardroom corporate governance because some bodies may be able to opt out of stocking to them.
Royal & SunAlliance is still struggling to pull itself out of the deficit and was yesterday forced to cut its dividend by 60%, even though there is still a substantial compared with the previous year, continues the Times.
Operating profits in 2002 rose from £16m to £226m but the group, which has been trying to sell divisions of the company to close its deficit, still has a black hole worth £700m.
Aegon took a nasty knock too yesterday, says the Scotsman, after declaring its dividend would be cut, wiping £1bn off its market value.
Profits are down 35% to E1.547bn (£1.05bn) for 2002, but there was also large write-downs and bond defaults for the 4th quarter.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till