An investment manager has warned that advisers’ ability to fully comply with the FCA's new Consumer Duty will be in jeopardy if their investment providers fail to provide them with regular and transparent updates.

The Financial Conduct Authority has urged victims of £2.5m boiler room investment fraudster Richard Faithfull to come forward by 12 September to ensure they are part of any claim for compensation.

Bestinvest’s bi-annual Spot the Dog report, which names and shames poorly performing funds, has revealed that investors are paying £115m in fees a year to invest in 31 ‘dog’ funds.

Investors pumped in £553 million into funds in April after pulling out £3.5 billion in March, according to latest figures out today from the fund managers’ trade body the Investment Association.