Wealth management firms are facing more serious consequences from a failure to meet suitability requirements as the regulator puts practices under fresh scrutiny.

Baillie Gifford's global alpha equity team have replaced Gerald Smith as manager of the Monks investment trust as the board seeks to improve performance.

Swiss private bank Union Bancaire Privée (UBP) has agreed a deal to buy the international arm of Coutts from the Royal Bank of Scotland.

Fidelity Asian Values manager John Lo has stepped back from running the trust after a 13-year spell in charge, to be replaced by Nitin Bajaj.

The Treasury Select Committee (TSC) has said the Financial Conduct Authority (FCA) must do more to show it has learned the lessons of its bungled leak of plans to review the life insurance sector.

The Financial Conduct Authority (FCA) is seeking feedback on a possible ban on rebates from discretionary fund managers to clients as it develops its response to forthcoming MiFID II legislation.

Former Merrill Lynch stockbroker Alastair Irvine has joined Jupiter as a product specialist for the Merlin multi-manager team.

Swiss firm Vontobel is to acquire a majority stake in TwentyFour Asset Management, a deal which will eventually see it take full ownership of the firm.

Former Threadneedle manager John Peta has joined Old Mutual Global Investors to head its emerging market debt team.

UK Consumer Prices Index (CPI) inflation continued its precipitous fall in February, dropping more than expected to hit zero for the first time.