Financial services

Royal London has agreed to change the terms used in its Scottish Life branded unit linked consumer contracts after the Financial Services Authority (FSA) found they may have been unfair.

The FSA is set to probe the asset management industry in a review of the risks of bribery, corruption, sanctions and money laundering, according to law firm Dechert LLP.

Morningstar has revealed how it intends to present past fund performance post-RDR, following the introduction of new ‘clean' share classes.

Investors looking to purchase consistently outperforming funds may end up paying more to do so in future, Jupiter's CIO John Chatfeild-Roberts has said.

L&G Investments is set to merge four funds it formerly managed for Barclays Wealth and Investment Management into existing in-house portfolios.

Victims of Bernard Madoff's fraud are being mailed a slice of a $2.4bn payout, bringing their total recovery amount so far to more than triple the amount initially set aside.

Invesco Perpetual has appointed David Millar, Dave Jubb and Richard Batty to form a new multi-asset group as part of a drive to expand its business.

The Financial Services Authority (FSA) has underlined the importance of advisory firms carrying our cost comparisons when undertaking replacement business.

The IMA has issued a series of alternatives to the FSA's "perverse" proposed changes to the Financial Services Compensation Scheme (FSCS), having previously criticised its unfair treatment of asset managers.

Fraudsters based in Belgium have used the Financial Services Authority (FSA) register details of a St James's Place partner to dupe consumers.