News

UBS could be hit with a record penalty by the Financial Services Authority (FSA) next week following the rogue trade which cost the bank $2.3bn.

A loophole in planned banking reforms could leave taxpayers on the hook for billions of pounds during another financial crisis, according to the governor of the Bank of England (BoE).

The government's auto-enrolment legislation may have a more significant effect on consumers' disposable income than planned government cuts, according to JO Hambro Capital Management's Clive Beagles.

There is a danger that loss-making provider-owned networks will fall foul of the Financial Standard Authority's (FSA) rules on cross subsidsation, according to one network director.

Adviser comparison website VouchedFor has criticised rival Unbiased for allowing restricted advisers.

Money being channelled through an insurer's platform into external funds under auto-enrolment (AE) could put members' pensions at risk if the fund provider went bust, Standard Life has warned.

AXA Wealth's long-term pension plan and onshore investment bond are Retail Distribution Review (RDR)-ready, offering advisers flexible charging options.

The FTSE 100 has added to recent gains in early trading this morning, raising the prospect of the index posting its largest weekly gain since last December.

IFAs formerly part of the Paradigm Financial Advisers network - which was last month bought by Caerus Capital - are hoping for a turnaround in service standards when the new ownership comes into force.

A financial adviser from Henley-on-Thames has been jailed for 14 months after giving false financial advice to an elderly woman.