An overhaul of IFA business models is in the pipeline, advisers have suggested, with the advent of new EU rules looming.

The FCA is pressing ahead with implementing new EU rules despite the Brexit vote, it announced this morning.

Many finance firms may be unaware of the huge challenge ahead to comply with new recordkeeping requirements, an archiving firm says.

The advent of new EU rules forcing firms to keep records of electronic communications including an “avalanche of content” on social media has prompted one business to double its UK team.