News

The investment industry is inefficient and in need of a radical overhaul if it wants to meet the needs of an under-served consumer base, Financial Conduct Authority (FCA) board member Mick McAteer has warned.

The Chartered Insurance Institute (CII) has appointed Law Commissioner David Hertzell to chair its Professional Standards Board (PSB), succeeding David McIntosh who will leave his post at the end of the year.

The financial services industry needs to tackle its "complexity problem" to make it easier for consumers to understand product choice and protect the most vulnerable, the regulator has said.

Defined ambition proposals could open the door to more flexible drawdown as master trusts provide both accumulation and decumulation vehicles, The Pensions Regulator says.

The European Union has agreed the final measures of the Solvency II framework and given a January 2016 start date.

The Financial Conduct Authority (FCA) has banned former investment consultant Rahul Shah for encouraging another person to engage in behaviour which, if engaged in by Shah, would amount to market abuse.

M&G's retail funds under management are up 24% year on year to £64.5bn at 30 September, driven primarily by strong inflows from European clients, with UK flows turning positive again in Q3.

The Association of British Insurers (ABI) has launched the first comprehensive review of the UK's retirement needs.

Charles Stanley has agreed a deal to buy Evercore Pan Asset Capital Management, the passive portfolio specialist co-founded by John Redwood MP.

Wrap platform Nucleus has published a pricing guide for advisers which breaks down platform charges.