News

The Financial Ombudsman Service (FOS) has set its budget for 2012/3 at £191.1m, meaning both the case fee and total levy will be frozen for the third year running.

Discounted gift trusts (DGT) business levels will remain flat or fall over the next year due to adviser dissatisfaction with the products on offer, a survey by Octopus Investments reveals.

Skandia International's latest research reveals the financial outlook of millionaires living in the UK, France, Italy, Hong Kong, Singapore, and Dubai.

A slower rate of growth that is better balanced towards domestic consumption should be seen as a positive for the country as it is more sustainable.

Trading profits at Sesame Bankhall Group fell significantly in 2011 compared with the previous year as the company invested in a series of solutions it hopes will cater for independent and restricted advisers from next year.

Resolution is preparing a "self-managed" exit from Friends Life in 2014 that would see the company split between a fit for purpose life company and a closed life fund consolidator.

The S&P 500 closed at its highest level since May 2008 after Fed chairman Ben Bernanke hinted the US central bank would keep in place its supportive monetary policy.

The UK government is in advanced talks to sell a significant stake in the Royal Bank of Scotland (RBS) to Abu Dhabi.

J.P. Morgan's head of intermediary sales, Jasper Berens, has been appointed head of UK retail in a restructure of the group's retail arm.

The Financial Services Authority is set to provide final guidance on simplified advice this week.