News

Keydata founder Stewart Ford has today won a landmark High Court judgement against the Financial Services Authority (FSA), which was found to have acted unlawfully in its use of legally privileged material in its enforcement investigation.

Two fraudulent mortgage advisers who appealed fines by the regulator have been hit with higher fines than the original ruling after a hearing at the financial services Upper Tribunal.

Support services provider threesixty's profits were dented in 2010 following its takeover by Standard Life and an increase in staff costs.

Just Retirement's value of new business after tax rose almost 50% to £82.8m for the year ending 30 June 2011.

UK gilts extended declines as the Bank of England refused to buy bonds maturing in 2017 in Monday's auction, after traders aggressively drove up prices.

The number and value of remortgages taken out in August increased by more than 30% on the same period of last year, as the market showed "welcome signs of life", according to the CML.

The Treasury is concerned the EU directive MiFID II will distort the UK advice market by restricting the commission ban to independent advisers.

Fidelity FundsNetwork is launching a new third party discretionary management service for advisers.

The S&P 500 closed up 3.4% overnight, boosting Asian shares and lifting the US index nearly 11% from lows seen last week.

The number of shares out on loan in September has risen by the highest level in five years as investors reacted to market falls by taking more negative bets.