The Financial Ombudsman Service (FOS) has listened to industry complaints about the burden of regulatory cost and cut its budget by 11% for the coming year.

The standards advice firms must meet to call themselves Chartered are set to get much tougher, as the Chartered Insurance Institute (CII) embarks on a radical overhaul of the label.

Aviva has said it expects its acquisition of rival Friends Life to generate extra revenue of £600m over the next two years, including cost savings for the company of £225m.

Zurich Life chief executive Gary Shaughnessy has joined the board of the Personal Finance Society (PFS) as an adviser.

The Financial Conduct Authority (FCA) is planning to gather evidence on current trends in complaints related to payment protection insurance (PPI).

The Financial Conduct Authority (FCA) has said it will look to take even earlier pre-emptive action against what it believes is bad practice in a bid to counter accusations from the industry that it unfairly employs retrospective regulation.

Restricted adviser network Sesame would be broke and unable to trade without the continued financial support of its parent company Friends Life, Aviva has said in a note to shareholders ahead of its planned acquisition of the provider.

Clients who buy the same protection products via Sesame could pay vastly different premiums amounting to thousands of pounds more depending on which of the network's two types of adviser they deal with, an investigation by COVER's sister title Professional...

All seven products providers featured on Sesame's ‘focussed' restricted advice panel have denied breaching the regulator's rules on inducements, after the network was fined £1.6m last week for selling the coveted spots to the highest bidders.

Sesame, the UK's largest network of financial advisers, has been fined £1.6m by the Financial Conduct Authority (FCA) for setting up a pay-to-play scheme that "undermined the ban on commission payments brought in by the Retail Distribution Review (RDR)"....