News by: Michelle Abrego
Legal & General has suspended new business sales on its £4.5 billion with-profits bond book due to low demand following the retail distribution review.
The government has confirmed the ISA limit will rise to £11,880 and has launched a consultation into allowing a wide range of retail bonds to be held within the wrapper.
Chancellor George Osborne has confirmed a cap on any future increases to business rates at 2% from April 2014.
Chancellor George Osborne has pledged to recover £9 billion for the public coffers over the next five years from the government's crackdown on aggressive tax avoidance, tax evasion and the promotion of tax schemes.
The National Audit Office has said the Money Advice Service’s provision of generic money advice is not yet achieving value for money, despite recent improvements in performance, and recommended the organisation build links with regulated financial advisers.
Eight banks including Royal Bank of Scotland, JP Morgan and Deutsche Bank have agreed to pay a combined €1.7 billion (£1.4 billion) to the European Commission to settle breaches in relation to Libor and Euribor.
Veracity Asset Transformation Service has appointed Nigel Stallworthy, former director of national advice firm LEBC, as managing director.
The Financial Conduct Authority (FCA) has removed the permissions of London-based firm Catalyst Fund Management because it has no qualified advisers.
MPs have published a damning report into the Money Advice Service, which they branded ‘not fit for purpose’, but have stopped short of calling for the body to scrapped, pending a further review.
Lloyds Banking Group has named Scottish Widows chairman and Tory peer Norman Blackwell as chairman.