Wealth managers

The Financial Conduct Authority (FCA) and North and West Yorkshire police have this morning arrested one male on suspicion of insider dealing and market abuse.

Lloyds Banking Group has been hit with a record fine by the Financial Conduct Authority (FCA) for retail conduct failings - related to serious flaws in the controls over sales incentive schemes - of over £28m. But what went so wrong?

Fines levied by the regulator against the financial services industry have soared by 50% this year, as the tougher stance of the new Financial Conduct Authority (FCA) leaves its mark.

The Financial Conduct Authority (FCA) has fined Lloyds Banking Group a record £28m "for serious failings" relating to its sales incentives.

REGULATION

Asset managers and wealth management firms have expressed support for the government's plans to scrutinise partnerships and LLPs in a clampdown on tax avoidance.

Banks paid out £81.2m last month to compensate businesses mis-sold complex interest rate hedging products.

The European Commission has collectively fined six international financial institutions €1.7bn (£1.4bn) for their involvement in the manipulation of benchmark rates.

The Retail Distribution Review (RDR) has "intensified the competitive environment", according to wealth manager Brewin Dolphin, as it announces profit before tax for the year to September was 4% down on the previous year.

The Financial Services Compensation Scheme (FSCS) said it is finalising the claims process for ARM investors with claims against Catalyst Investment Group, and hopes to start inviting claims in early 2014.