News

HSBC has vowed to fight a $250m (£151m) lawsuit brought against it over its alleged involvement in the Keydata scandal.

Tracker funds saw net retail sales of £532m in July, the highest level since Investment Management Association (IMA) records began twenty two years ago.

The Whitechurch Network spent more than £704,000 in 2013 settling claims related to advice given by its appointed representatives on Keydata and Arch Cru.

More than 130 businesses have signed a letter saying the business case for Scottish independence "has not been made".

Royal Bank of Scotland and Natwest Bank has been fined £14.5m by the Financial Conduct Authority (FCA) for failings in their mortgage advice.

Prudential has appointed Capita Financial Managers as authorised corporate director (ACD) for seven Prudential open ended investment company (OEIC) funds, holding the assets of 2,000 UK clients.

Old Mutual Wealth chief executive Paul Feeney has contacted clients to defend a decision to shut the Skandia Invesco Perpetual income funds, pointing to "truly exceptional circumstances" following Neil Woodford's departure.

Berkeley Burke director Gareth Roberts, who was in charge of implementing Retail Distribution Review (RDR) rules in the firm's wealth management division, has left the firm.

The Investment Management Association (IMA) is understood to be looking at a range of sectors for the increasing number of risk-targeted funds which are choosing to remain unclassified.

The Financial Conduct Authority (FCA) has pledged it will overhaul the way it issues attestations to firms - which put the onus on senior management to fix problems - by placing greater importance on clarity and transparency.