Wealth managers

The Financial Services Compensation Scheme (FSCS) has declared 13 financial advice firms in default and invited customers to come forward with their claims.

The Financial Conduct Authority (FCA) is probing the potential manipulation of currency markets, following revelations a number of traders at leading banks have rigged exchange rates.

The Financial Conduct Authority (FCA) has fined Xcap Securities, a retail investment and capital markets business, £120,900 for failing to adequately protect client money and client assets.

Lloyds Banking Group has admitted to failings in its handling of payment protection insurance (PPI) complaints, following an undercover investigation.

Investors will be offered the chance to buy discounted shares in Lloyds Banking Group, as George Osborne plans to sell taxpayers' stake in the bank sooner rather than later.

RISK ASSESSMENTS

IFA network Sesame has said it remains in a 'strong' financial position and will not increase its membership fees because of today's £6m fine for failings relating to advice given on Keydata products.

The Financial Conduct Authority (FCA) has fined Sesame Limited £6,031,200 for failures in relation to Keydata advice.

The Financial Conduct Authority (FCA) has banned the sale of unregulated collective investment schemes to ordinary retail investors.

Clive Adamson of the Financial Conduct Authority says the regulator will be pre-emptive rather than reactionary to protect consumers.