The Central Arbitration Committee has rejected an application from union Unite to be recognised as the union for Financial Conduct Authority employees.

The FCA and PRA have dropped plans to ban and fine a former CEO - accused of paying his wife excessive sums to avoid tax - following a damning Upper Tribunal judgment.

The Financial Conduct Authority has banned five directors of financial advice firms from working in financial services and fined them over £1m.

FCA CEO Nikhil Rathi has defended the pay packages of staff - some of whom went on strike this week - as “possibly the best package” among UK regulators.