The European Commission has collectively fined 6 international financial institutions €1.7bn (£1.4bn) for their involvement in the manipulation of benchmark rates.

Confidence in UK financial services is at a 17 year high, with firms anticipating a greater recovery in volumes, profitability and employment in the fourth quarter.

Veracity Asset Transformation Service has appointed former LEBC director Nigel Stallworthy as managing director.

A number of asset managers stand to double their market share if they are prepared to be aggressive on super clean pricing, according to research from Barclays.

Skandia's director of investments James Millard is stepping down from the role at the end of the year after it was decided the managed portfolio service will be run by Old Mutual Global Investors.

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A ban on pre-Retail Distribution Review (RDR) trail commission threatens to make business unsustainable for nearly half of advisers, according to research from GfK and Panacea Adviser.

Nearly half of asset managers have said they will not offer discount share classes to platforms as they do not class them as distributors, preferring instead to deal directly with larger advisers.