Peter Hargreaves, executive director of platform giant Hargreaves Lansdown, has revealed the business intends to move all its clients over to clean fee share classes to meet regulatory changes.

The Financial Services Authority (FSA) has begun informal discussions with key industry players about a potential ban on all fund commission payments from the start of 2014 for business written on platforms.

M&G reported a record level of net inflows in the third quarter of £6.4bn, bringing total inflows to £11.3bn for the first nine months of the year, a 329% rise from 2011.

Old Mutual Global Investors has launched a four strong multi-asset fund range for John Ventre, which aim to beat inflation over the long term.

London's leading share index has opened flat in early trading, with investors cautious as Greek default fears resurface.

US markets posted heavy losses for the second successive day of trading, amid fears Greece is set to default on a €5bn debt payment due next week.

OBAMA-DRAMA

The Association of Investment Companies (AIC) has backed industry calls for the Financial Services Authority (FSA) to relax planned rules restricting the sale of EIS and VCTs to retail investors.

BP has raised its dividend by 12.5% to 9c a share, but reported a fall in profits in the third quarter.

Schroders' head of UK equities Richard Buxton says market timing has never been more essential, with the FTSE 100 set to remain stubbornly range-bound over the medium term.