Over one in three financial services firms (36%) have been penalised at least once in the past 12 months for failing to meet regulatory requirements, according to a new report.

The FCA has issued a £3,503,546 fine to CB Payments Limited (CBPL) for repeatedly breaching a requirement preventing it from offering services to high-risk customers.

Iress has added integration with artificial intelligence-powered adviser assistant tool PlannerPal to its cloud-based advice and wealth management software Xplan.