News

The Financial Services Compensation Scheme (FSCS) has declared a further 18 advisory firms in default.

Wrap and pension provider James Hay Partnership has said advisers and clients will have access to both bundled and clean share class funds in the lead up to 2016, depending on the cheapest total expense ratio (TER).

Investment company purchases on platforms by advisers and wealth managers are up 53% in the first six months of 2013 against the same period last year, research by the Association of Investment Companies (AIC) suggests.

Shares in the Royal Bank of Scotland have slumped in morning trading after Chancellor George Osborne said a break-up of the semi state-owned lender could take place "within weeks".

Old Mutual Wealth Management has appointed ex-Cofunds chief executive Charlie Eppinger to the board as an independent non-executive director.

HM Revenue & Customs (HMRC) has made its scheme registration process more stringent in an attempt to prevent pension liberation fraud.

Aberdeen Asset Management and Macquarie Group are the two remaining bidders battling it out for Scottish Widows Investment Management (SWIP), Investment Week understands.

UK dividend payouts will contract this year for the first time since 2010 following a "disappointing" Q3 for income investors, according to Capita.

J.P. Morgan has reportedly agreed to pay an £8bn ($13bn) fine as part of a settlement with the US over its role in the mortgage-backed securities market, which led to the near-collapse of the US financial system.

The Co-operative Bank has said it expects to shell out a further £100m in compensation to cover "revised" estimates on claims made over the sale of PPI.