The FCA has taken action to stop four Cypriot investment firms that used unauthorised celebrity endorsements from continuing to offer high risk contracts for difference (CFDs) to UK investors after a number of customers lost more than £100,000 to the schemes.

The Financial Conduct Authority has named the eight insurers who have agreed to take part in a test case to clarify business interruption insurance.

The FCA has issued a scam warning about a firm called ‘My Scam Adviser’ which claims to help scammed investors recover their money.

Experienced financial regulator Ashley Alder, head of Hong Kong’s Securities and Futures Commission, could be the next chief executive of the FCA, according to reports from Sky News.