The Financial Conduct Authority has fined Nigerian-owned Guaranty Trust Bank (UK) Limited (GT Bank) £7.67m for “serious weaknesses” in its anti-money laundering (AML) systems and controls.

Platform and retirement provider Embark has launched The Paraplanner Room, a new hub for Paraplanners providing topical information and tools.

The FCA is planning to update its guidance, introduced during the Covid-19 pandemic, to provide more support to insurance customers facing financial difficulty.

Nearly one million people are considering annuities for the first time as a result of rising annuity rates, according to a new prediction.

Three financial firms, including a Financial Planning firm, have been declared as failed since the start of the year by the Financial Services Compensation Scheme.

Soaring inflation means that retirees need 20% more income to retire on a basic standard of living than last year, according to a new report from the Pensions and Lifetime Savings Association.

Financial Planning software firm FinCalc has launched an extension to integrate with new customer relationship management (CRM) software solution Plannr.

The Financial Services Compensation Scheme has warned that rising inflation and more complex cases are pushing up its costs.

Wealth manager and Financial Planner Evelyn Partners has appointed David Rankin as a new managing partner in Scotland, covering its Edinburgh and Aberdeen offices.

Financial Planning software firm Dynamic Planner has appointed Michael Whitfield as its new chair following a major private equity investment last year.