News

Axa is reviewing the viability of maintaining its defined benefit (DB) scheme due to an increasing deficit and the additional costs associated with the end of contracting out.

The withdrawal of lenders offering interest-only may limit consumer choice, said the incoming CEO of the twin-peaked Financial Conduct Authority, which took over from the FSA yesterday.

Tidjane Thiam, chief executive of Prudential, is in line for a £7m share jackpot despite receiving a personal rebuke last week from City regulators.

Morningstar has voiced concerns about the lack of succession planning in the funds industry and the reluctance of groups to hand over large pots of money to young talent.

David Nish, the chief executive of Standard Life, saw his remuneration hit £5m last year, up from about £2.5m in 2011.

Harlequin Property, the UK-based overseas property sales agent that is at the centre of a Serious Fraud Office (SFO) investigation, has lost its second auditor in under three years.

Advisers and clients could get "caught out" by the new tax treatment of payment of trail commission, according to James Hay Partnership.

Jupiter chief executive Edward Bonham Carter has criticised EU proposals to cap fund manager bonuses, saying the moves could jeopardise industry stability.

City Financial has acquired OPM Fund Management for an undisclosed amount, taking over its £75.2m fund range in the process.

The EU bail out conditions could have a detrimental effect on Cyprus' tax centre status, according to accountants, Baker Tilly.