News

Closed fund consolidator Phoenix Group has appointed former Financial Services Authority (FSA) head Sir Howard Davies as chairman.

The successor to Mervyn King will have an "unduly powerful role" thanks to Treasury plans to extend the powers available to the Bank of England (BoE), one of the bank's advisers has warned.

Santander, the UK's second largest mortgage lender, has been criticised for hiking its standard variable rate (SVR) by 0.5% - to 4.74% - a move expected to affect several hundred thousand customers.

Almost half a million people will retire over the next 30 years saddled with average mortgage debts topping £50,000, research suggests.

The self-invested personal pension (SIPP) market will see consolidation as a result of the Financial Services Authority's (FSA's) move of unregulated collective investment schemes (UCIS), a provider has said.

The Financial Services Authority (FSA) is proposing to ban the promotion of certain structured products as part of its wider effort to prevent the sale of unregulated collective investment schemes (UCIS) to retail investors.

The Financial Services Authority (FSA) is carrying out significantly fewer regulatory visits to small firms in what some suggest may reflect its changing view about the risks they pose to the industry.

The Financial Services Authority (FSA) believes its proposed rules on the promotion and sales of unregulated collective investment schemes (UCIS) could lead to a reduction in Financial Services Compensation Scheme (FSCS) costs for advisers.

Aberdeen Asset Management has unveiled unbundled share classes across its fund range in preparation for the onset of the Retail Distribution Review (RDR).

Business tycoon Asil Nadir has been found guilty of a total of ten charges of theft from his now-collapsed Polly Peck empire.