The Financial Services Compensation Scheme has opened an investigation into two companies owned by the Tenet Group which fell into administration yesterday.

The FCA has launched a criminal investigation into Newcastle-based wealth manager WealthTek LLP following the discovery of an £81.5m gap in the firms’ finances.

Pensions Minister Paul Maynard MP has been referred to an investigator by the Parliamentary expenses watchdog over reports that he charged taxpayers when producing political materials.

The Financial Services Compensation Scheme has launched an investigation into City-based investment firm Pello Capital (FRN 449720) after FCA concerns about fraud and money laundering.