Treasury

Retail savings and investment industry body TISA has endorsed the government's plans to allow holders of child trust funds (CTF) to transfer their funds to ISAs upon maturity, outside of the normal annual subscription limits.

Consumer group Which? is among four organisations awarded ‘super-complainant' status by the government, meaning it has the power to present complaints to the Financial Conduct Authority (FCA), which must respond.

Scottish taxpayers will have to pay out £1.6bn a year to fund initiatives set out in the white paper on the country's independence which have not yet been allocated cash, according to Treasury figures.

Fines levied by the regulator against the financial services industry soared by almost 50% this year, as the tougher stance of the new Financial Conduct Authority (FCA) left its mark.

The Treasury is exploring the idea of capping tax-free ISA allowances to crack down on 'ISA millionaires', while investigating plans to reduce the amount retirees can take as a tax-free lump sum.

The government has extended a payment scheme for Equitable Life policy holders to mid-2015 and is due to launch an advertising campaign to encourage more policyholders to come forward.

FIVE THINGS

The UK government has lodged a legal challenge with the European Court of Justice (ECJ) on the EU's proposed cap of bankers' bonuses.

It is "unrealistic, uneconomic and unnecessary" to expect those approaching retirement to take regulated financial advice, according to Hargreaves Lansdown.

The Treasury has been accused of pushing out Royal Bank of Scotland (RBS) chief executive Stephen Hester to cut down any potential pay-off from the state-backed lender, according to a new book.