News

The Financial Services Compensation Scheme (FSCS) will not compensate investors bringing claims against Rockingham Independent for allegedly negligent advice - meaning there will be no additional levy for advisers.

A Supreme Court victory for the Financial Services Authority (FSA) could result in the regulator becoming more litigious, according to law firm Taylor Wessing.

Tyneside-based Moneygate Group has acquired discretionary fund management (DFM) and advisory firm Watermark in a bid to broaden its offering to clients.

Colin Jelley has returned to Skandia as head of wealth planning following a brief stint at St James's Place (SJP).

Jupiter Fund Management has announced a 13% increase in its total dividend for 2012, ahead of analyst expectations, as the group continues to strengthen its balance sheet.

Royal Bank of Scotland (RBS) has posted a pre-tax loss of £2.2bn in the fourth quarter, taking full year 2012 losses to £5.2bn, but despite the results the bank said the government is much closer to selling its stake.

Outsourcing giant Capita has made no further provision for Arch cru liabilities in its latest set of results.

St James's Place (SJP) saw profits rise 23% in 2012 compared with the previous year, thanks in part to higher income from funds under management, which again were a record for the business.

At least 50% of advisers looking to take up new technology in the post-Retail Distrubution Review (RDR) period are enquiring about direct to consumer (D2C) systems, according to one tech specialist.

The Financial Conduct Authority (FCA) will not seek to pre-approve products, according to CEO-designate Martin Wheatley.