The FCA has decided to no longer seek a £5.95m financial penalty against Nailesh Teraiya, formerly sole controller and chief executive of Indigo Global Partners Limited (Indigo).

One in ten (9.9%) of new savers opted out of pension contributions in the third quarter of the 2024-25 tax year, according to the latest statistics from the Department for Work & Pensions.

Direct platform assets grew 8.2% to a new record of £441bn in the second quarter, according to analysts Fundscape.

Net inflows rose 182% year-on-year to £4.3bn for wealth manager and Financial Planner Quilter in the first half of the year.

Octopus Money has agreed to buy Virgin Money’s investment business for an undisclosed amount, subject to FCA approval.

The FCA has today (5 August) secured a confiscation order against Reuben Akpojaro, the fourth individual involved in a £1.2m investment scam which saw 120 investors conned out of their savings.

National IFA Continuum, owned by M&G, has recruited two Financial Planners and an IFA from West Country-based Fleming Financial, which was acquired by fast-growing Financial Planning firm Shackleton in December.

Fast-growing Financial Planning firm Perspective Financial Group has completed five further acquisitions, boosting assets under advice to £310m.

Pensions and SIPP consultancy Barnett Waddingham has promoted Nick Cooper to be CEO of BW SIPP, as the business says it enters a new phase focused on market growth.

The FCA has provisionally fined Neil Woodford and Woodford Investment Management (WIM) for failures in their management of the Woodford Equity Income Fund (WEIF).