The Financial Services Authority (FSA) has confirmed it is investigating interest rate manipulation by other major high street banks after Barclays' record fine yesterday.
Andrew Tyrie, the chairman of the Treasury Select Committee, has demanded answers from Royal Bank of Scotland (RBS) boss Stephen Hester about the bank's ongoing computer failures.
Barclays has been slapped with the largest-ever fine by the Financial Services Authority (FSA) and a huge penalty by the US authorities after it breached rules regarding LIBOR.
Today's confirmation that cash rebates will be banned is a 'blow' to wrap platforms and presents a 'significant challenge' to their business models, fund supermarket Skandia has said.
The unbundling of platform charges will result in greater price competition between fund providers, the Financial Services Authority (FSA) said today.
The Financial Services Authority (FSA) has suggested it will not read across its proposed ban on platform rebates to life companies, but has promised to explore the issue further.
The ban on rebates from fund managers to platform providers is to cost platform operators up to £10m a year, the FSA has estimated.
The FSA has decided to apply its ban on platform rebates to execution-only propositions.