News

Guardian Financial Services is to acquire 300,000 in-payment annuities from pension fund consolidator The Phoenix Group.

The Financial Services Authority (FSA) has suggested it will not read across its proposed ban on platform rebates to life companies, but has promised to explore the issue further.

The ban on rebates from fund managers to platform providers is to cost platform operators up to £10m a year, the FSA has estimated.

The FSA has decided to apply its ban on platform rebates to execution-only propositions.

The Financial Services Authority (FSA) has this morning confirmed its intention to ban both payments from providers to platforms and cash rebates to consumers.

Industry trade bodies have criticised proposed changes to the Financial Services Compensation Scheme (FSCS) sourcebook.

The European Commission is set to lay out new plans today for a unified approach to tackling tax evasion across member states, including setting up a dedicated team of auditors.

Fred Goodwin, the former CEO of Royal Bank of Scotland (RBS) stripped of a knighthood for his role in the bank's near collapse, is among several former RBS directors fighting claims they were at fault for the lender's troubles.

Aegon UK has appointed Richard Dallas as director of marketing and transformation, a role which will see him spearhead the development of the company's platform business.

A 74-year-old IFA has put his retirement plans on hold to contest a £250,000 mis-selling case levelled by a claims management company (CMC) - relating to advice given almost a quarter of a century ago.