The Financial Services Authority (FSA) has proposed a set of rules which aim to maximise and speed up client money returns when investment firms fail.

The Bank of England's Monetary Policy Committee (MPC) has voted to hold the interest rate at 0.5%.

Howard Davies, the former chairman of the Financial Services Authority (FSA), is to head up a commission looking into the possibility of a new airport in the south east, according to reports.

MPs have continued to heap criticism on the Money Advice Service (MAS), with questions being raised about the lack of focus in its role.

INCENTIVES

The Financial Services Authority (FSA) has warned adviser businesses they risk mis-selling to consumers, even with the abolition of commission, if they remunerate their staff based on the revenues they earn.

Hargreaves Lansdown recorded a 21% increase in profits in the year ended 30 June, driven by revenues from its Vantage platform.

Greg Clark, a minister in the Communities and Local Government department, has taken over from Mark Hoban as financial secretary to the Treasury, as part of the government reshuffle.

RDR IN THE NEWS

The government has admitted it is ‘difficult' to ascertain the impact of the LIBOR rigging scandal on consumers and whether banks will have to pay out compensation as a result of it.