News

The European parliament is set to reject a ban on commission to independent financial advisers (IFAs) when it votes on MiFID II next week.

SCEPTIC?

An amendment to the Financial Services Bill proposed by two Labour peers could open up the possibility of financial advisers not having to be regulated if they do not charge for their services.

Barclays Bank chairman Marcus Agius has said "the buck stops with me" as he confirmed he will resign following the inter-bank lending rate fixing scandals.

The Financial Services Authority (FSA) will be the biggest winner following the retail distribution review (RDR), according to a survey of 280 advisory firms.

Aviva has fired dozens of senior managers and may look to offload a fifth of its business units after carrying out a review of the company, according to reports.

Expats living in Spain who have investments outside of the country are being warned to beware of the Spanish tax authorities' clampdown on tax evasion.

Threadneedle Investments and State Street on target for Channel Island appointments.

Barclays' record FSA penalty for LIBOR manipulation will be superseded by other banks' fines as the investigation deepens, according to Schroders' Richard Buxton.

The estimated value of the remaining assets within the Arch Cru funds has fallen again, reducing the amount of returns to investors being offered by Capita Financial Managers, the authorised corporate director.