About 500 small and 200 large advisory firms have been told their suitability reports must be sent to be assessed by the FCA.

An FCA hospitality probe has found events such as golf or tennis were not ostensibly “designed to enhance the quality of service to the client”.

A wealth management firm has been handed a Final Notice after the FCA said it had failed to comply with a regulatory requirement.

Tracey McDermott, acting chief executive of the Financial Conduct Authority, will leave the organisation on 1 July, it was announced by the regulator this morning.

A new criminal offence is to be brought in for corporations who fail to stop their staff facilitating tax evasion, following the Panama Papers revelations.

A project to allow unauthorised firms to test new products and services by cutting regulatory requirements is to begin imminently.

The FCA’s annual funding requirement for the year will rise to £519.3 million, a hike of 7.8% on the previous year. 

The total fees that advisers will have to pay the FCA next year would fall under proposals released this morning.

Advisers’ bill for running the FCA to drop from £74.9m

The total fees that advisers will have to pay the FCA next year will fall, it was confirmed this morning.

The Financial Ombudsman Service has confirmed it will collect fees from the industry of £24.5 million in 2016/17.