Financial services industry players have voiced their frustrations about the regulator's lack of clarity in the direct to consumer (D2C) and simplified advice space, saying it is hampering innovation and preventing them from bridging the advice gap.
The Financial Conduct Authority (FCA) is still concerned about transparency in the advice space, especially in relation to charging and independence, chief executive Martin Wheatley has said.
The Bank of England has maintained interest rates at 0.5% and the size of the asset purchase programme at £375bn.
Personal Touch Financial Services has said it plans to subsidise member firms' regulatory fees for 2014.
The regulator is moving away from an over-reliance on static rules and regulations to a "good judgement" approach, and expects the industry to follow suit, Martin Wheatley has said.
The Association of Professional Financial Advisers (APFA) has called for a lighter regulatory approach and a tighter grip by the regulator on product manufacturers.
The Financial Services Compensation Scheme (FSCS) has confirmed that it will calculate compensation fees on a three-year basis in the future, following a consultation process that received some "detailed" but "positive" feedback.