A fifth (19%) of financial advisers admit they have not heard of the FCA’s new Consumer Duty and have not considered changes they may need to make.

Royal London and LV=, two large mutual providers, have abandoned merger talks, both firms confirmed today.

Royal London confirmed this morning that it was in “exploratory” takeover talks with rival mutual LV=.

Royal London confirmed today it was offering exclusive talks with fellow mutual LV= about a possible merger after a £530m bid by US private equity firm Bain Capital for LV= collapsed last week.