News

M&G reported a 53% rise in net investment flows in the first half of the year, with retail investors driving the £4.3bn of flows.

Sesame Limited, the network arm of Sesame Bankhall Group, recorded a loss of £2.5m in 2011.

A boost in individual annuities and with-profits bonds sales helped Prudential UK maintain new business levels in the first half of this year, despite a significant decrease in corporate pensions volumes.

Intrinsic Financial has made two senior management appointments.

The UK could leave the European Union by this autumn should the eurozone debt crisis intensify further, it has been suggested in a study by Japanese bank Nomura.

The Financial Services Authority (FSA) will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual trades, it has been reported.

Barclays has confirmed Sir David Walker will succeed Marcus Agius as chairman of the bank on 1 November, following press reports yesterday.

A former financial adviser has been prohibited from performing any regulated activities by the Financial Services Authority (FSA) for unregulated collective investment scheme (UCIS) failings.

Sir David Walker, a former deputy governor of the Bank of England, will become the new chairman of Barclays, according to reports.

HM Revenue and Customs has told providers to use men's drawdown rates for all drawdown users from 21 December 2012.