News

A former security chief at Lloyds Banking Group has been jailed for five years for submitting false invoices to claim payments from the bank.

Connaught Asset Management and Tuita plc have both entered administration following the suspension of Connaught's three unregulated collective investment schemes (UCISs).

Advisory firms' focus on higher net worth clientele following the Retail Distribution Review (RDR) will leave more room in the mass market for companies such as Towergate Financial, its chief executive said.

Voyant has released its new fact-find technology to its adviser clients, after a pilot on platform Axa Elevate.

The Association of Independent Financial Advisers (AIFA) is to change its name to the Association of Professional Financial Advisers (APFA).

The Financial Services Consumer Panel (FSCP) has downplayed prospects of a cap on liability for financial advice, indicating it would strongly oppose any reintroduction of the 15-year long-stop.

Bank of England governor Mervyn King has called the end of the recession in the UK and pointed to signs of growth returning to the economy.

Victims of Bernard Madoff's fraud are being mailed a slice of a $2.4bn payout, bringing their total recovery amount so far to more than triple the amount initially set aside.

A Conservative Party treasurer has called on the government to compete with offshore tax havens by easing the tax burden on wealthy foreigners who invest in hedge funds.

A former minister who lost his job in the reshuffle has criticised the government for failing to deal with the burden of long-term care costs, suggesting the Treasury has "no sense of urgency" about the issue.