House of Commons

Regulator was added to government's £10bn cost-cutting target

Watchdog faced heavy criticism

2011 changes will stand

Campaign group petition attracted 118,000 signatures

Frank Field has been elected as chairman of the House of Commons Work and Pensions Committee.

Pensions expert Ros Altmann has called on the Financial Conduct Authority (FCA) to tighten its grip on product providers to ensure customers are treated fairly once they have received the government's proposed retirement guidance.

Chair of the Financial Services Consumer Panel (FSCP) Sue Lewis has told MPs she expects the emergence of "a lot of toxic products" in the retirement sector following the announcement of new pension freedoms in the Budget.

An amendment to the Care Bill mandating local authorities to refer people approaching care to regulated financial advisers - a proposal originally thrown out by parliament - is to be re-submitted in revised form for consideration by MPs.

Labour MP Paul Blomfield will introduce a private members bill on Wednesday with the aim of creating a harsher regulatory environment for payday lenders.

The Equity Release Council is to brief policymakers on improving access to financial advice for older people at the House of Commons today.