News

The FSA is proposing to restrict when firms can impose a market value reduction (MVR) on with-profits funds, in a consultation aimed at tightening rules to better protect policyholders.

Barclays, HSBC, Lloyds Banking Group and RBS have agreed to review and improve their will writing services following OFT action.

Royal London's wrap platform Ascentric increased new assets under management by 189% to £1,217m in 2010 from £421m the previous year.

Libya unrest has driven Brent crude oil to a 29-month high of $119 per barrel, causing Asian markets to fall overnight and European stocks to slump as investors take profits.

Qatar prime minister Sheikh Hamad bin Jassim says the state is interested in investing in RBS and Lloyds Banking Group.

The family of the US Securities and Exchange Commission's (SEC) top lawyer made $1.5m by investing with fraudster Bernard Madoff, according to a trustee for victims of the ponzi scheme.

Aegon's UK distribution businesses, including Positive Solutions and Origen, managed to recoup some of 2009's losses last year but were still in the red by £5m.

Royal Bank of Scotland (RBS) has reported an annual loss of £1.13bn for 2010, improving on the previous year but still falling short of analyst expectations.

The 12th International Fund and Product Awards are now open for entries.

Independence concerns are driving advisers using life company platforms into the arms of additional providers, whereas smaller brand players tend to be advisers' sole choice.