The number of active FCA-authorised firms has dropped by 3.7% over the past six months to 75,213 - down 7% year on year, with M&A activity driving much of the consolidation.

A 46-year-old man has appeared in court in London today charged in connection with a £19m unauthorised investment scheme.

Financial Planning Week, the CISI’s annual consumer-focused campaign to promote the benefits of professional financial advice, kicks off on Monday.

The FCA has named former Investment Association CEO Daniel Godfrey as the first chair of its new sustainable finance adviser group.