The UK's four major banks have passed EU stress tests, although five Spanish banks failed, the Committee of European Banking Supervisors (CEBS) said.
The FSA will be able to restrict firms from selling certain products and suspend individuals as ‘disciplinary' measures when it implements new powers granted to it under the Financial Services Act 2010.
The maximum award the financial Ombudsman (FOS) could order firms to pay in client redress may double to £200,000, a City law firm suggests.
John Chatfeild-Roberts, CIO of Jupiter and head of the group's £4.6bn multi-manager range, has urged investors to go back to basics and avoid being tempted into complex products promising unrealistic returns.
Daniel Harrison says advisers are moving from national and network propositions to become directly authorised. And he thinks he knows why…
Sue Mallender, senior associate at Bovill, discusses how achievable retaining ‘independent' status will be for advisers seeking to be RDR-ready.
The FSA has secured almost £4m in compensation for victims of an unauthorised collective investment scheme.
Clarkson Hill directors Ron Pritchard and Mike Robinson have loaned the business £588,000 to help it meet its regulatory capital requirements.
Sesame Bankhall will launch a restricted advice service for at-retirement customers with small pension pots.
Gross mortgage lending rose 15% last month, but experts attribute the increase to "seasonal pick-up".