The Financial Conduct Authority has announced this afternoon that a number of senior figures are set to leave as plans were unveiled to make a wave of structural changes.

Sesame Ltd, the UK's largest network of financial advisers, has been fined £1,598,000 by the Financial Conduct Authority for setting up a so-called 'pay-to-play' scheme which the regulator says undermined the ban on commissions introduced by the RDR.

The FCA has fined Yorkshire Building Society £4,135,600 for failings when dealing with its mortgage customers experiencing payment difficulties.

Two directors of a wealth management company have been fined and banned by The Financial Conduct Authority for "serious failings in relation to the protection of client money".