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Providers are confirming the tax status of their UK ETF ranges, following scrutiny in the media over whether investors incur income tax or capital gains tax rates.

The pension pot needed to satisfy the minimum income requirement could need to be as much as £300,000 in order to stop people falling back on state benefits, Towers Watson says.

BP is driving a midday rally in London shares after the oil giant's attempts to stop the oil leak proved successful, although banking stocks continue to slide.

The new reporting regime for offshore funds allows UK investors access to accumulating ETFs at a beneficial tax rate, according to industry experts.

Jim Reeve, chief executive of national IFA Positive Solutions, this week moved to quell partners' fears of a company-wide legacy business review he admits will "likely" lead to at least some client redress.

Ascentric says delays in the transfer of £75m worth of Towry assets on to the platform are costing it £15,000 per month, as a dedicated team battles to sort out the "extraordinary" and "embarrassing" problem.

The FTSE opened up at 5237.75, up 26.46 points, (0.51%) as European stocks edged higher in opening trading, drawing some optimism from Wall Street's late-session comeback.

Tisa has appointed current director of portfolio and retirement planning Malcolm Small to the new position of director of policy with effect from July 1.

The US Senate has approved the largest overhaul of financial regulation since the Great Depression, which is aimed at averting a repeat of the recent credit crisis.

The euro rocketed to a two-month high of $1.29 and sterling jumped two cents to almost $1.54 after the Fed confessed that the US economy may not recover for five or six years.