News by: Michelle Abrego
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.