Defaqto has moved to reassure staff that there will be no job losses as a result of its takeover by SimplyBiz.

Adviser support company SimplyBiz is to buy technology and data provider Defaqto in a deal worth a total of £74.3m.

SimplyBiz Group today announced its intention to float on the London Stock Exchange for a market capitalisation of £130 million. 

The way unregulated investments are presented to consumers is a ‘disgrace’, the chairman of a compliance firm says.