Shareholders of wealth manager Team will vote at its upcoming EGM on 29 December on its planned merger with troubled rival wealth manager WH Ireland.

The FCA has scrapped plans to compel investment advisers to set aside funds in advance to compensate investors if bad advice is given.

Reaction to the FCA’s new targeted support proposals announced today has been positive, particularly in relation to the effect it will have on people's attitude to pensions.

The FCA has predicted that over the next decade at least 18m people could be offered extra help with their investments and pensions with the introduction of targeted support.

The Financial Services Compensation Scheme (FSCS), the industry-funded consumer compensation body, declared 13 regulated firms in default between August and November, it reported today.

Wealth manager and Financial Planner Titan Wealth Planning has acquired £650m AUA Bath Financial Planning firm Morgans Limited, for an undisclosed amount.

More than half, some 52% of people, say they would use targeted support if it was available, with the number increasing to two-thirds, 62%, of 25-44 year olds.

The Treasury has reappointed experienced financial services executive Sophie Hutcherson to the FCA Board.

The FCA has confirmed changes to simplify its rules and lower costs for insurers, while saying it is maintaining appropriate levels of protection for smaller commercial customers.

UK DB pension schemes continue to enjoy extremely positive funding positions, with XPS Group reckoning aggregate surpluses of £252bn on long-term targets, up from £187bn the previous year.