Chief executive of the Prudential Regulation Authority (PRA), Andrew Bailey, has said it is "more than odd" that the top bosses in control of failed banks have avoided formal charges.
The senior regulator who will be in charge of supervising banks has warned that institutions will still be allowed to fail, despite more rigorous oversight of the businesses under the new regime.
M&G reported a 53% rise in net investment flows in the first half of the year, with retail investors driving the £4.3bn of flows.