Prudential's UK retail new business fell by 11% in 2009 as the group focused on profitability over volume.

Prudential has agreed to buy AIG's Asian business for $35.5bn, which will be partially funded by a $20bn rights issue.

George Osborne, Shadow Chancellor, on Saturday promised early action to cut the headline rate of corporation tax from 28p to 25p, but aides conceded the change might not fully take effect until April 2011.

Prudential is in advanced discussions with AIG and the US Government to buy the giant insurer's Asian assets for $35.5bn (£23.5bn).

The FSA has ordered RSM Tenon Financial Services to undertake a review of its pension switching business going back almost four years amid concerns about the suitability of advice.

RSM Tenon Financial Services has been fined £700,000 by the FSA for its poor sales and advice processes relating to Lehman-backed structured products.

Censured IFA Park Row reduced the number of cases it checked for compliance in 2008, despite multiple warnings from the FSA.

St James's Place (SJP) has welcomed the ‘restricted advice' definition proposed in the RDR.

Park Row must redress customers up to £7.8m for failing to ensure its sales were suitable, the FSA has announced.

Jelf Group was forced to cut costs in its financial advice business last year after making an operating loss of nearly £9m.