Financial services providers have pledged to provide more support to victims of financial abuse with the introduction of a voluntary Code of Practice.

The Financial Services Compensation Scheme (FSCS) has declared a London-based credit union in default and has pledged to protect more than 1,100 members.

FCA chief executive Andrew Bailey has paid tribute following the death of former FCA colleague Linda Woodall, the regulator’s ex-director of life insurance and financial advice who had a long career in regulation.

Aviva plc chief executive Mark Wilson is to step down from the company straightaway after just under six years with the business.

St James’s Place chair Sarah Bates has retired as chair and a director of the wealth manager, making way for former Yorkshire Building Society chief executive Iain Cornish to become the new chair.

National IFA network Tenet has acquired Preston-based Financial Planner and wealth manager Elementum for an undisclosed sum. 

STM, owner of UK SIPP provider London & Colonial, is to acquire the majority of rival SIPP firm Carey Pensions for £400,000 as Carey prepares to tackle a major court case.

The Financial Conduct Authority is to consult on new rules to reduce the potential harm to investors holding funds invested in illiquid assets - such as property - “under stressed market conditions.”

Punter Southall Aspire, the investment and workplace pensions business, has acquired JDP Financial Services, a firm of independent Chartered Financial Planners based in Bedford, for an undisclosed sum.

New research suggests that 20% of parents – 6.9m mums and dads – have transferred assets to their children early to mitigate inheritance tax.