The Financial Ombudsman Service has so far received over 10,000 Covid-19-related complaints, according to its quarterly report out today.

The Financial Services Compensation Scheme declared 45 firms in default between May and October, including several Financial Planning, SIPP and wealth management firms.

The Financial Ombudsman Services has made 128 staff redundant over the past 12 months as its workload has fallen, according to its 2019/20 Annual Report and Accounts.

STM Group, the financial services and SIPP provider, has added £5m to its takeover war chest to fund further acquisitions.

London-based Chartered Financial Planning Firm Capital Asset Management has hired a business development director as it gears up for a growth push.

Senior executives from accountancy firm Beavis Morgan and general insurance firm Jelf have teamed up to launch a new Bristol-based Financial Planning business with plans to acquire adviser firms.

Chancellor Rishi Sunak has extended the furlough scheme until the end of March, with the government paying up to 80% of wages.

The Competition and Markets Authority has ordered platform engine provider FNZ to sell rival and takeover target GBST over fears that millions of UK pension savers and investors could face worse service and higher prices.

The Financial Conduct Authority has banned 3 financial advisers from working in financial services indefinitely - including one in jail for sexual assault - following findings of misconduct.

Responsible investment funds saw net retail sales of £7.1bn for the year-to-date, up from £1.9bn for the first three quarters of 2019.