Trade association PIMFA, which represents 1,000 investment managers and financial advisers, has slammed proposals for funding the Financial Ombudsman Service (FOS).

London-based financial services firm Octopus Group has agreed a deal to acquire Seccl Technology Limited as it sets out to “disrupt the platform technology market that underpins retail financial services”.

Aegon has reported a sharp rise in platform assets in the first half to £140bn as it completed its integration with acquisition Cofunds.

New statistics have shown a big increase in the number of elderly people living alone, prompting concerns from lawyers of an increase in elderly and vulnerable abuse cases.

SIPP provider Berkeley Burke has been ordered to pay almost £1m in costs to people left out of pocket after making high-risk unregulated investments which were accepted into the firm’s SIPPs. 

The Financial Services Compensation Scheme (FSCS) has declares six financial firms in default.

CPI inflation has risen to 2.1% contradicting earlier predictions that it would fall to 1.9% and is above the Bank of England’s 2% target.

The FCA has agreed a plan that gives the payments and e-commerce industry extra time to implement Strong Customer Authentication (SCA).

Quilter Cheviot has appointed Nick Holmes as managing director to support the firm’s ongoing growth strategy and drive a number of new initiatives.

Close Brothers Asset Management has appointed experienced Brooks Macdonald executive Alastair Wilson to the role of managing director for the firm’s high net worth investment management in Scotland.