Barclays Bank has escaped an £80.5m fine but still must pay £72,069,400 for “failing to minimise the risk that it may be used to facilitate financial crime” relating to a £1.88 billion transaction.

The FCA has revealed that the number of financial advisers has risen by over 1,000 since last year.

The FCA said this morning it could intervene in the asset management sector if a new probe, which began today, unearths ineffective competition.

A former investment analyst at Aviva Investors has been banned by the FCA after the company was hit with a £17.6 million fine earlier this year.

The FCA has this morning published a paper on reviewing its rules on disclosure and advice relating to P2P agreements due to the new Innovative Finance ISA.

Nearly a quarter of consumers consider what their morning newspaper tells them as constituting financial advice, a study found, as it revealed the high level of ignorance about the difference between advice and guidance.

The CISI has accused the Government of draining the global talent pool with its cap on visas for skilled non-EU workers.

A leading figure at the FCA has admitted that regulation and fear of risk can come at the cost of stifling improvements in the industry, as a system for trialling new products was launched today.

FCA acting chief executive Tracey McDermott has urged an end to what she calls an “adversial” approach to regulation.

A jailed former hedge fund boss who was convicted of a range of fraud offences which led to clients losing about £350m has been banned today.