The Financial Services Bill, which will help shape UK financial services regulation in the coming decades following Brexit, received Royal Assent yesterday (29 April).

Treasury minister John Glen today announced a £120m government-backed compensation scheme for LCF mini-bond victims which will pay up to 80% of losses up to a maximum of £68,000.

Most of the 11,500 former clients of failed wealth manager and DFM provider Reyker Securities plc have got their money back after intervention by the Financial Services Compensation Scheme.

The Competition and Markets Authority (CMA) has launched a new Digital Markets Unit (DMU) to tackle online competition.