News

The City sees a one-in-five chance the Bank of England will raise interest rates today to combat rising inflation.

The FSA will spend £100m implementing EU-wide insurance regulation Solvency II, which is "towards the low end" of original estimates but excludes "considerable" direct costs to the UK industry, FSA CEO Hector Sants says.

Hargreaves Lansdown posted a 40% jump in operating profit in the final six months of 2010, but says the figure would have been "significantly higher" but for a £3m FSCS bill to help compensate customers of failed investment businesses.

Consumer watchdog Which? has called on the FSA to get rid of the ‘restricted adviser' label and replace it with ‘sales representative'.

Barclays Capital Fund Solutions, the asset management business of Barclays Capital, is broadening its product offering with the launch of a structured OEIC linked to the performance of the FTSE 100.

Barclays Wealth has launched a new edition of its Growthbuilder for investors looking for added returns in a low growth environment.

The FSA has told the Treasury Select Committee (TSC) any dilution of the RDR will lead to higher costs to consumers through continued unsuitable advice, in a warning to MPs not to meddle with the rule change.

FSA CEO Hector Sants has ruled out 'any dilution of the RDR proposals' in a personal submission to the TSC.

The Treasury Select Committee (TSC) has not yet made a decision on whether to call for a full evidence session on the RDR as it wades through a huge 203 separate submissions on the issue.

Banks will reveal salary details of their highest paid staff and lend businesses £190bn this year under Project Merlin, but their top earners will not be hit with a bonus tax, the government said today.