Wealth managers

Royal Bank of Scotland (RBS) will have to undergo an independent skilled person review of its lending practices following allegations that it put some good and viable businesses into default so it could boost profits.

Ed Harley, head of asset management at the Financial Conduct Authority, has left the regulator to take up a role at Goldman Sachs Asset Management.

Treasury Select Committee (TSC) chairman Andrew Tyrie has called on the industry to help parliament hold the financial services regulator to account to avoid "excessive regulation" that could "create the stability of the graveyard".

The increasingly rapid move towards restricted architecture and a focus on cost above all else across the financial services industry could spark the next mis-selling scandal, Fidelity's Ed Dymott has said.

The Financial Conduct Authority (FCA) has fined asset manager SEI Investments more than £900,000 for failures relating to its handling of client money over a five-year period.

The Financial Conduct Authority (FCA) has launched a consultation on proposed changes to the rules governing the use of dealing commission by fund managers, in particular how they pay for access to company CEOs.

The Financial Conduct Authority is reviewing gold benchmarks as part of a probe into how global rates are set, according to reports.

US investment banking giant JPMorgan Chase has agreed a mammoth $13bn (£8bn) settlement in relation to sales of residential mortgage-backed securities which contributed to the financial crisis.

US futures firm MF Global Holding has been ordered to pay $1.2bn (£740m) in restitution to its customers over its collapse.

The number of calls to the Financial Conduct Authority (FCA)'s ‘whistleblower hotline' to report suspected malpractice in the financial services industry has jumped 23% in the last year, according to figures obtained by law firm RPC.