The Financial Services Compensation Scheme (FSCS), the safety net scheme for consumers, paid out £423m in compensation to customers during its 2023/24 year, £20m higher than the previous year.

The FCA’s rulebook review on 'streamlining' red tape post the Consumer Duty, has been welcomed by the industry.

Fintech and adviser support services firm Fintel, owner of SimplyBiz and Defaqto, said acquisitions have helped the business grow its profits by 6.6% in the last six months.

Pension scam warning ‘flags’ have climbed to their highest level in nine months, according to an update from pensions consulting and administration business XPS.

International financial advisory firm Hoxton Capital Management has made its fourth acquisition in the UK this year with a deal for an undisclosed sum to buy St Albans-based Chequer Financial Services.

New research suggests that 59% of financial services firms have been hit by a ransomware or cyber attack in the past 12 months.

There were 112 new financial advice firms registered with the FCA in June, according to new analysis of FCA data.

Financial Planner and wealth manager Quilter has appointed Sarah Houlston as the firm’s new chief operating officer.

Brad Ainsworth from Chichester-based Cathedral Wealth Management has been presented with a British Citizens Award, Medal of Honour, for services to volunteering and charitable giving.

Sheldon Mills, executive director of consumers and competition at the FCA, has claimed that Consumer Duty has been a great success in a speech at an event celebrating the Duty’s anniversary.