News

Many IFA firms were already losing money for at least a year before the market downturn, which can no longer be used as an excuse for poor performance, according to a new report.

Lloyds Banking Group has dismissed as "rumour" reports it may sell part of its fund management business in a bid to raise cash following its bailout by the UK Government.

The Court of Appeal has overturned a tribunal decision that gave an unfair dismissal victim compensation for the loss of her defined benefit pension.

A former Bank of England employee has replaced Sheila Nicoll as FSA director of retail firms.

Bonds continue to dominate UK net retail sales although equity funds are starting to gain ground, according to IMA sales figures for July.

Sales of overseas domiciled funds have rocketed in July, according to the latest figures from the IMA.

Tenet Group is considering offering run-off cover to its members, through its PI subsidiary Paragon, to plug what it sees as a big hole in the market.

Renewed efforts to ensure introducers justify any money they receive for referring clients to financial advisers will bring to an end commission "sharing" arrangements, experts say.

The Department for Business Innovation & Skills has confirmed that mortgage brokers who are independent of banks and insurance companies are eligible for the government's £1.3bn Enterprise Finance Scheme.

Insurers are being praised for answering industry calls to cut premiums on protection policies where exclusions apply.