Wealth managers

Connaught Asset Management has entered administration following the suspension of its three unregulated collective investment schemes (UCISs).

The Association of Independent Financial Advisers (AIFA) is to change its name to the Association of Professional Financial Advisers (APFA).

The FSA has fined an advisory business £58,300 for advising its clients to invest in high risk products which were "clearly" unsuitable.

The former UBS trader accused of losing the bank more than $2bn in unauthorised trades owed money to eight payday loan firms when he was arrested last year, a court heard yesterday.

Few consumers think the Financial Services Authority (FSA) is doing a good job, research from the Association of British Insurers (ABI) suggests.

The Financial Services Authority (FSA) has banned former HBOS executive Peter Cummings and fined him £500,000 for failings within the company's corporate division.

Smith & Williamson Investment Management is launching a range of risk-rated funds via SimplyBiz's investment service Verbatim.

The Skandia label will disappear in the UK and a number of senior roles have been reshuffled as part of a major overhaul of the Old Mutual Wealth Management business.

New European ‘banking union' proposals risk the ire of the UK's biggest banks as they could give EU officials broader powers over the City of London.

Ecclesiastical is launching RDR-ready institutional share classes across its range of six funds.