News

Metro Bank, the first high street bank to launch in the UK for a century, opens its doors today but none of its products have made it onto best buy tables.

Mervyn King wants a new breed of regulators focused on public service and not huge banking-style pay packages when responsibility for financial regulation transfers from the FSA to the Bank of England in 2012.

Fund groups have warned the RDR will lead to increased volatility in fund flows and a greater share of assets going to a handful of the larger asset managers.

Skandia will close its MultiBOND and critical illness offerings to new business from the end of September.

From the end of September Skandia will no longer sell Critical Illness (CI) policies.

Bank of England (BoE) Governor Mervyn King has issued a stark warning to MPs "not to read too much" into recent strong GDP figures.

Consumer champion Which? has written to the FSA claiming Nationwide Building Society could potentially be in breach of consumer regulations.

Woolwich will cut the interest rates it charges on mortgages up to 80% LTV by up to 0.21% from tomorrow.

The FSA is urging IFAs to carry out an urgent review of any advice they have given on unregulated collective investment schemes (UCIS) and make redress to customers if needed.

The Financial Services Authority (FSA) has banned the three directors of Simply Trading Group (STG), Stephen Coles, Luke Ryan and Michael Yamoah, from senior management positions for falling short of FSA standards.