Cofunds has said its move to scrap its £40 annual fixed platform charge for some users will impact around 80,000 clients, indicating an initial hit to revenues of around £3m.

The government has extended a payment scheme for Equitable Life policy holders to mid-2015 and is due to launch an advertising campaign to encourage more policyholders to come forward.

Fidelity Worldwide Investment's Tom Stevenson has moved over to the group's personal investing business to help develop the group's direct to consumer offering.

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Prime Minister David Cameron has appointed former banker Sajid Javid as financial secretary to the Treasury following the latest reshuffle of the Cabinet.

UK shares had a shaky start to the week as negotiations over the US debt ceiling continue to drag on.

The Financial Conduct Authority (FCA) has launched a review of the execution-only market, examining all aspects of the industry including looking at buy lists for the first time.

Charles Stanley Direct has criticised Hargreaves Lansdown over the cost of its platform transfer charges after the country's biggest D2C platform delayed its shift to a new pricing structure.

Old Mutual Global Investors (OMGI) has reshuffled its fixed income desk, promoting Christine Johnson and Stewart Cowley, and is launching a new Macro fund for the team.