The Financial Services Bill received its first reading in Parliament this week as the Government focuses on getting the financial services sector ready for Brexit.

The FCA and PRA have hit Goldman Sachs International (GSI) with a fine of £96.6m for management failings in dealing with allegations of bribery and staff misconduct.

The Financial Services Compensation Scheme has paid out just over £38.1m in compensation to LCF customers, a substantial increase from the £20m paid out by August when the body increased the team allocated to the case by nearly 80%.

Protection and pension provider LV= said it expects to see a rise in income protection and critical illness claims in 2021 due to a backlog of cancer screenings.

Investment manager Walker Crips has appointed a Chartered Financial Planner to strengthen the firm’s Financial Planning-focused wealth management division.

Jacqueline Lockie CFP Chartered FCSI, the Chartered Institute for Securities & Investment’s head of Financial Planning, will leave the professional body at the end of the year.

Openwork, one of the biggest financial advice networks with 4,000 advisers in the UK, has urged insurance and banking workers facing redundancy to turn to the financial advice sector for job opportunities.

Investment platform AJ Bell has reported an 11% rise in advised customers during its financial year ended 30 September 2020.

Wealth manager Quilter has reported a year on year rise in assets and a modest recovery in inflows.

The Pensions Lifetime Allowance is set to rise by £5,800 to £1,078,000 next year following news today of the latest CPI inflation rate of 0.5%.