News

A UK ban on the payment of commission from providers to advisers who sell its products can go ahead unchanged and unhindered, the European Commission (EC) has said, quashing concerns a Europe-wide directive could scupper the requirements.

Consumers are likely to reject simplified advice and advice where they must pay a fee upfront, research from the Association of British Insurers suggests.

HSBC and Standard Chartered could be dragged into a multi-billion dollar dispute between warring Saudi factions after the banks were forced to hand over thousands of potentially incriminating documents.

State-owned Royal Bank of Scotland is to payout around £500m in bonuses to its traders and investment bankers, despite a collapse in profits.

Warren Buffett's Berkshire Hathaway group lost more than $2bn on derivatives related to stock market performance in Q3.

Royal Skandia and Guernsey-based Concept Group have launched a 'lite' version of co-branded QROPS aimed at clients with smaller pension pots.

Rex Cowley, one of the original pioneers in the QROPS market, has left Kleinwort Benson, which recently acquired the Close Offshore Group, where Cowley had overall responsibility for product and marketing strategy across the international division.

The government will continue to avoid interfering in the regulation of the retail investment market even after the break-up of the Financial Services Authority (FSA), it has confirmed.

The Financial Services Authority (FSA) has told members of the Treasury Select Committee its latest research shows 91% of advisers expect to have completed their qualifications by December 2012, rebuffing MPs' concerns about the extent of potential exits...

The House of Commons Treasury Committee has expressed its regret that the Financial Services Authority (FSA) declined its suggestion to delay implementation of the Retail Distribution Review (RDR) by 12 months, and described the concessions the regulator...