News

Platforms attempting to dodge the cash rebate ban by paying consumers units in a cash fund would be acting in an 'incredibly foolish' manner and going against the spirit of the rules, Fidelity has warned.

Shares in Schroders and Aviva jumped sharply today after strong full-year results from both firms, helping to keep the FTSE 100 ahead.

St James's Place will enter the FTSE 100 index following the departure of engineering consultancy Amec and agribusiness Tate and Lyle.

Schroders has announced profits at its wealth management business rebounded sharply following the takeover of Cazenove in July, while asset management profits also jumped as the business moved on from the loss of star manager Richard Buxton.

The "improper" allocation of trades in fixed income securities by two former employees cost Aviva Investors some £132m, it has announced.

Skandia, which re-entered the advised protection market last year, paid out on 96% of critical illness insurance (CII) claims in 2013.

Tax relief is "the lowest hanging fruit in Whitehall" and politicians were prepared to slash current levels to save the Treasury millions of pounds, according to a think tank.

Banks have paid out a total of £482m in redress to those they have missold interest rate hedging products, figures from the Financial Conduct Authority (FCA) show.

M&G's highly-rated bond fund manager Richard Woolnough has said he would raise rates this year if it were up to him - but said such a move could present a buying opportunity.

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