FCA

Eight staff members have been dismissed by Lloyds following an investigation into the LIBOR rate fixing scandal that saw the bank fined £218m.

Fund groups should be wary of using performance fees within their products to incentivise managers, Jupiter's vice chairman has warned.

The Financial Conduct Authority has created a dedicated fund supervision unit to regulate and monitor individual retail funds for the first time, in a bid to better safeguard investors and consumers.

A financial advisory business can permit its advisers to refer clients to specialist colleagues within the company and remain independent, following an about-turn by the Financial Conduct Authority (FCA).

EEA has told any investors unhappy with their holdings in the group's life settlements fund to consider making claims against financial advisers, and not to pursue the fund group itself.

Barclays, Fidelity and HSBC have been flagged by the Financial Conduct Authority as the most-complained about firms for investments in the first half of 2014.

Barclays has been hit with a £38m fine for failing to adequately protect clients' funds, the Financial Conduct Authority has confirmed.

Winning over millennials

The Financial Conduct Authority (FCA) has banned and fined a former senior partner of St James's Place after clients lost out investing in companies he controlled.

Newly-founded fund group Sanditon Asset Management plans to launch a UK long/short fund for Tim Russell as early as November.