News

Former FSA chairman Sir Callum McCarthy has joined US private equity group JC Flowers as European chairman.

Lloyds Banking Group has launched a record-breaking £13.5bn rights issue at a near-40% discount as part of a massive fund raising to strengthen its balance sheet, reports The Telegraph.

Light-touch regulation and a belief in the fundamental rationality of the market will be replaced by a "bias towards conservatism", says Lord Turner, chairman of the FSA.

Prudential is to withdraw from the equity release sector in the first quarter of 2010 after deciding to deploy capital to other parts of its business.

Plan providers Gilliat Financial Solutions and Jubilee Financial Products have launched new early redemption investments linked to the FTSE 100.

Cofunds has agreed a long-term tie-up with Threadneedle ahead of the launch of its panel of research funds in January.

Sesame has announced the line-up for its Symposium conference, where advisers will hear what industry figures think the future holds for the financial services industry.

Lloyds Banking Group is set to cut 700 jobs following Equitable Life's decision to switch an administration contract from Lloyds to Indian-based IT giant HCL.

The FSA has assessed the impact severe weather, including flooding, would have on regulated firms.

Pruprotect has unveiled a new website to coincide with the launch of its Essentials plan.