News

Insurer Aegon has warned of the "disastrous" ramifications of removing trail commission following a fund switch - a move the FSA hinted at in its latest consultation paper on legacy commission.

The government is expected to recommend a cap on long-term care (LTC) fees of between £50,000 and £60,000, according to a report.

The UK is already back in recession and will not see any interest rate rises until at least 2016, according to the Centre for Economics and Business Research (CEBR).

The Prime Minister David Cameron has rejected calls from an MP for an independent inquiry into the Arch Cru investment funds scandal.

Arch Financial Products is being sued for £150m by the board of 18 Guernsey-listed investment vehicles for not exercising a fundamental care of assets and failing to account for "substantial secret profits", according to reports.

IFAs around the country are charging vastly different fees for the same work and should be forced to publish transparent fee menus, Which? has said.

The financial crisis engulfing the eurozone took a fresh twist last night after Standard & Poor's cut the credit rating on nine eurozone countries, including France's AAA rating, and Greece's debt talks collapsed without agreement.

Standard & Poor's has downgraded the credit ratings of a raft of eurozone nations including Italy, Spain and Portugal as well as stripping France and Austria of their AAA status.

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Four unions and a pensioner organisation have lodged an appeal against the High Court's ruling in favour of the government change the uprating of public sector pensions.