Total staff bonus payments in the UK in the 2015/2016 financial year reached £44.3 billion, a record in cash terms, and 4.4% higher than the previous year.

General insurance ‘scorecards’ are to be piloted, it has been revealed this morning.

A director whose misconduct contributed to the failure of several insurance schemes and led to FSCS compensation pay outs of £12.7m has been fined £1m and agreed to pay £13m to insurers.

The Financial Conduct Authority has today fined Ralph Whittington £42,111 and banned him from performing any function in relation to regulated activity. Read more...