UK

The FSA should go further in its DFM transparency drive and oblige discretionaries to publish total expense ratios for their portfolios, according to David Tiller, director of strategy & business development at Standard Life Wealth.

Prime Minister David Cameron has warned the UK is facing an "hour of reckoning" in his speech to the Conservative Party conference.

The UK is out of recession and had its strongest quarter in two years over the three months to September, according to NIESR.

Allianz Global Investors is to merge away three UK equity funds as it refocuses its adviser business in the UK.

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UK BANKS

Ratings agency Fitch has warned the UK's AAA credit rating is under increasing pressure because of growing government debt, which could hit 100% of GDP this year, and the continuing eurozone crisis.

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Lloyds Banking Group (LBG) will no longer offer a mass market investment advice service for clients with less than £100,000 to invest.

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