News

The chairman of the Financial Services Authority (FSA) has said regulators are "not clever enough" to spot problem areas and act quickly enough to prevent or limit their damage.

Phil Wagstaff is leaving his role as chief executive of Skandia Investment Group just two weeks after joining to become global head of distribution at Henderson Global Investors.

The eurozone faces a "mild" recession in the first half of next year, restricting full-year economic growth in the region to just 0.1%, according to Ernst & Young.

Invesco Perpetual's head of investment Neil Woodford said his favoured defensive blue chip names have recently delivered some confident trading updates, despite tough macroeconomic conditions.

Jack Malvey, chief global market strategist for BNY Mellon Asset Management, expects resolution of the medium term economic fate of Europe and the US election outcome will see equities rise as much as 15% next year.

Trust and fiduciary service provider, Vistra, has acquired Cynosure, a specialist corporate services provider focused on the establishment of Wholly Foreign Owned Enterprises (WFOEs) in China.

The Investment and Life Assurance Group (ILAG) has warned that increased publishing of decisions made by the Financial Ombudsman Service (FOS) could be a boon for claims management companies (CMCs).

Universal Provident has increased its maximum initial insurable benefit under LivingCare, its long term disability insurance policy, from £20,000 to £35,000 per annum.

John Spence, the newly-appointed non-executive director of the Money Advice Service (MAS), was in charge of managing risk at Lloyds TSB during the height of its endowment mis-selling scandal.

Britons rank second in a list of non-US nationals most keen to tip America's regulators off about suspected financial crime, according to the first annual report on the Securities & Exchange Commission's whistleblower program.