The number of people paying tax penalties for exceeding the annual or lifetime limits on pension tax relied rose sharply between the 2020/21 and 2021/22 tax years, according to new figures from HMRC.

Nucleus Financial Platforms has completed its £242m acquisition of SIPP and SSAS provider Curtis Banks to create a retirement-focused adviser platform with approximately £80bn in Assets Under Management.

Only one in 10 financial advisers support the government’s proposed changes to the tax rules on pension death benefits.

Former Cardiff financial adviser firm David Craig (FRN 503340) has been declared as failed by the Financial Services Compensation Scheme.

The Chartered Institute for Securities & Investment has recruited Mandy Gill from the Gambling Commission to be its new executive director of global learning.

Research showing that Financial Planning can play a key role in reducing financial stress and worries for clients will be published to mark this year’s World Financial Planning Day on 4 October.

Defaqto has launched a new product and platform switching tool to help Financial Planners ensure clients’ investments provide fair value by removing time and complexity from pricing research.

The FCA and the PRA have published joint proposals to boost diversity and inclusion across the financial services sector and to help tackle the scandals and poor behaviour.

Former Milton Keynes financial adviser firm Mike Norris Financial Services (FRN 542126) has been declared as failed by the Financial Services Compensation Scheme.

Insurer Aviva is buying the UK protection arm of American International Group (AIG) for £460m.