News

Seven advice firms have been declared in default by the Financial Services Compensation Scheme (FSCS).

GLG has made Rory Powe manager of its Continental Europe fund, following his move to the group in July.

A financial adviser has been charged with 12 counts of fraud which is said to have netted him over £1m worth of clients assets.

State Street Global Advisors (SSgA) is the latest ETF provider to slash fees on a range of its European products, as passive fees continue to come under pressure.

The Office for National Statistics has revised second quarter growth figures in the UK up from 0.8% to 0.9% in its final estimate.

Sanlam International Investments is to significantly increase its stake in boutique FOUR Capital in order to work more closely with the business.

RBS expects to "significantly outperform" its estimates for dealing with impaired loans in 2014, according to a trading update.

Franklin Templeton is to rebrand Colin Morton's UK Blue Chip fund as the Franklin UK Rising Dividends fund in a bid to make it more attractive to those seeking a growing income stream.

Tesco has created £2.5bn in credit reserves as senior management seek to deal with a £250m accounting error, falling shares, and the potential for ratings downgrades.

Regulation