Three financial advisers who pocketed almost £6m in ‘marketing fees’ relating to a SIPP which included inappropriate high-risk bonds, have been penalised almost £4m by the FCA and prohibited from any regulated activity.

Chancellor Rachel Reeves MP will present her first Budget on 30 October after yesterday announcing plans for £22bn of government spending cuts to plug a hole in government finances.

Net inflows to wealth manager St James’s Place slumped by more than a third in the six months to June compared to last year but funds under management climbed to a record high as the firm pledged to cut £500m of costs by 2030.

Lifetime annuity rates climbed to more than 7% in June following steady increases since the start of the year.

 The Financial Conduct Authority has today launched a review on 'streamlining' regulatory red tape post the Consumer Duty, amid signs many advice firms have cut back on the number and type of clients they serve and struggled to meet all the obligations.

The Pensions Regulator’s (TPR’s) new DB funding code - a decade on from the previous one - has been laid in parliament today, following extensive industry consultation.

Funds targeting income have seen a resurgence of interest among advisers with interest in capital accumulation funds waning at the same time in Q2, according to research consultancy firm Square Mile. 

Chancellor Rachel Reeves will today commit the Government to one major fiscal event per year to end “surprise budgets”, which have caused uncertainty for markets and family finances across the country. 

The number of teachers opting out of the Teachers’ Pension Scheme has climbed 14% to 13,112 during the past 12 months, data collected by the Department for Education has revealed.

Average transfer times for DC pensions fell by 14.2% in the 18 months to the end of June 2024, according to new figures published by fintech Origo.