Wealth managers

HM Revenue and Customers has issued a warning to taxpayers not to be caught out by email phishing scams offering tax rebates in return for bank account or credit card details.

REGULATION

Former Santander adviser Christopher Wathen has been handed an 11-year bankruptcy restriction after he was jailed for stealing clients' money and using it to fund his lifestyle and to gamble.

The Financial Conduct Authority (FCA) has appointed former Goldman Sachs managing director James Kelly as an adviser in its wholesale banking and investment management division within the supervision unit.

New data has shown equity funds have been impacted to a far greater extent than bond funds in terms of price following the move to unbundle product fees.

Treasury committee chairman Andrew Tyrie has accused the regulator of overcharging the advice community and asked for a refund of fees at today's grilling of chief executive Martin Wheatley and chairman John Griffith-Jones.

The interest rate swap mis-selling redress scheme has now paid out more than £306m to affected small businesses.

The Wealth Management Association has warned the aims of the RDR could be undermined if advisers continue to be given non-monetary benefits.

Overhauled pricing model will see majority of D2C platform's clients paying 0.45% annual fee.

The Financial Conduct Authority (FCA) has warned a bank manager that it intends to take action against him for failings in relation to an interest rate benchmark.