regulation

RETREAT!

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.

Hargreaves Lansdown has pushed back its widely anticipated pricing announcement until next year, having previously said it would be revealed in early December.

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 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.

Fund groups are facing a fresh headwind to their expansion attempts as global private banks' buy lists shrink post-RDR.

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.

RBS, the taxpayer-owned bank, has been accused of killing off small businesses to seize assets for its own property empire, in evidence referred to financial watchdogs by business secretary Vince Cable, according to reports.