'It becomes the duty of a good and experienced adviser to help educate the client'
Regulator is 'disappointed'
A group of Cambridge entrepreneurs and businessmen are so outraged by the behaviour of the banks they are setting up their own, The Independent reports.
The Bank of England has warned Britain's big banks could lose up to a fifth of their profits as the commercial property market implodes, The Daily Telegraph reports.
Royal Bank of Scotland (RBS) announced profits will be well ahead of forecasts of £9.9bn despite a £1.5bn sub-prime hit.
The Bank of England yesterday maintained interest rates unchanged for the fifth month as official figures revealed a surprise drop in British factory output and evidence suggesting retailers suffered a poor Christmas, writes the Daily Telegraph.
New insurance regulations taking effect on Friday will lead to higher premiums says the chief executive of Norwich Union, the Telegraph notes.