Financial advisers who gave bad advice to BSPS victims have been ordered to pay just £8.87m in fines and redress to BSPS victims - far less than the £50m expected, an FCA report out today reveals.

The number of whistleblowers contacting the FCA to alert the regulator to suspected wrong-doing fell sharply in the latest quarter, new data shows.

Financial adviser and ISA provider London Court Limited (FRN 146522) has entered creditors’ voluntary liquidation less than a year after the FCA placed restrictions on the firm.

The FCA has imposed trading restrictions on wealth manager City & Merchant Limited (FRM154182) and its appointed reps.