News

Closed life fund consolidator Phoenix has held the majority of its annual bonuses at low rates or at 0% as it focuses on final payouts.

The Financial Services Authority (FSA) has fined Santander £1.5m for failing to confirm to customers the circumstances under which its structured products would be covered by the Financial Services Compensation Scheme (FSCS).

Her Majesty's Revenue and Customs (HMRC) expects to issue some 850,000 penalties for late tax returns over the next fortnight, 550,000 fewer than the same time last year.

Ageas continued its protection market growth and halved its pre-tax loss in 2011.

Invesco Perpetual is bringing a range of multi-asset, risk-rated funds to the UK run by its Atlanta-based global asset allocation team headed by CIO Scott Wolle.

The Professional Adviser International Fund & Product Awards are now open to entries. The deadline is 30 March 2012.

Following the introduction of the streamlined regulatory regime in Jersey at the end of last month, the first fund is now launched investing in European real estate.

Banking giant Lloyds is to strip five current and former senior bankers of some £1m in bonuses over their role in the mis-selling of payment protection insurance (PPI), according to the Telegraph.

Aviva has launched an adviser-facing awareness campaign to help IFAs emotionally engage with clients and their families while approaching the subject of protection.

The Financial Services Authority (FSA) has referred Catalyst Investment Group, the UK marketing and distribution agent for ARM Asset Backed Securities, to its enforcement and financial crime division, according to reports.