The Pensions Regulator has prosecuted two former pension scheme trustees for making illegal loans of £236,000 from a company pension scheme to the sponsoring employer last year.

The FCA has restricted business at London IFA firm Independently East Ltd (IEL) (FRN488046) after it failed to pay a £70,000 Ombudsman award to a client.

The Financial Services Compensation Scheme has declared in default Stoke-on-Trent adviser firm Osborn Wealth Management Ltd (formerly Pace Ward Financial Ltd) (FRN: 232576).

The Bank of England today increased its base rate by 25 basis points from 4% to 4.25% - the highest level for 15 years.

The Financial Conduct Authority has appointed Therese Chambers and Steve Smart as joint executive directors of enforcement and market oversight in a move to strengthen its enforcement team. 

Provider Legal & General has become one of the first corporate members of the new independent professional body, the Consumer Duty Alliance (CDA).

The CII has awarded Corporate Chartered Status to six Financial Planning and insurance firms during the first two months of this year.

Investment research provider Morningstar has announced the winners of its UK 2023 Morningstar Awards for Investing Excellence which recognise long term performance.

Fund manager Marlborough has launched an investment platform for financial advisers and their clients with an annual charge of 0.2%.

The consumer complaints body the Financial Ombudsman Service is to increase its maximum compensation award from £375,000 to £415,00 from 1 April.