A man who took part in a major unauthorised collective investment (UCIS) scam - which ripped off investors to the tune of £5m - has today been jailed for an additional 400 days for failing to pay the full amount of a court Confiscation Order made against him.

The FCA has responded to concerns expressed by members of the British Steel Pension Scheme (BSPS) about some of the financial advice they have received.

Three defendants have been found guilty for their roles in a series of boiler room investment scams which led to the loss of more than £2.7m of investors’ funds. 

The FCA has banned a total 18 people from working in the financial services industry in the past year - the lowest figure since the financial crisis, according to City-headquartered professional services firm RPC.

Financial job opportunities in London have seen a steady rise month-on-month despite Brexit fears, according to the Morgan McKinley London Employment Monitor.

The FCA has warned that scammers are cloning the name and details of a well-known asset management firm to try to cheat investors.

Inflation, as measured by the Consumer Prices Index, rose from 3% in October to 3.1% in November although falling prices for products such as travel goods and financial services prevented a bigger rise.

The FCA has today published consultation documents on its approach to authorising firms and its competition rules to see if its powers need to be made more transparent to users.

Pension transfer values remain stable during November, figures showed today.

Nearly half (47%) of retirees are unaware of the pension freedoms or the options available to them to access their pensions, according to research by Old Mutual Wealth and YouGov.