Papers

The Financial Services Authority (FSA) is due to report today that the average size of its fines in the past year rose 23% to £216,800 as it sought to deter wrongdoing with high-profile enforcement actions reports the Financial Times.

HALIFAX BANK OF SCOTLAND yesterday said it was on track to increase profits by 7% this year after it regained its share of the mortgage lending market, reports The Scotsman .

THE FIRST OFFICIAL review of the Financial Services Authority since it was created will be announced today by the Treasury's Economic Secretary, reports The Times .

AEGON has agreed to buy a 49% stake in a Mexican insurer, says The Daily Telegraph.

HIGH STREET BANK Abbey has admitted a problem with its business banking service has resulted in some customers' online payments going to the wrong people, says The Guardian .

The Financial Services Authority is to get tough on businesses and individuals who break the spirit of the law rather than just the law itself, reports The Daily Telegraph .

THE NEW HEAD of the Pension Protection Fund will encourage companies to use swaps to manage their pensions promises, The Times has learnt

REGULATORY SCRUTINY of the Muslim financial industry is to be stepped up, says the Financial Services Authority, reports The Financial Times.

STANDARD LIFE IS EXPECTED to cut its flotation price range, diminishing the value of windfalls for policyholders, reports The Daily Telegraph .

FINANCIAL SERVICES GROUP Prudential is in talks to sell its private equity division PPM Capital to the company's management team, The Daily Telegraph has learned.