Tracey McDermott, acting chief executive of the Financial Conduct Authority, will leave the organisation on 1 July, it was announced by the regulator this morning.

A new criminal offence is to be brought in for corporations who fail to stop their staff facilitating tax evasion, following the Panama Papers revelations.

A project to allow unauthorised firms to test new products and services by cutting regulatory requirements is to begin imminently.

The FCA’s annual funding requirement for the year will rise to £519.3 million, a hike of 7.8% on the previous year. 

The total fees that advisers will have to pay the FCA next year would fall under proposals released this morning.

Advisers’ bill for running the FCA to drop from £74.9m

The total fees that advisers will have to pay the FCA next year will fall, it was confirmed this morning.

The Financial Ombudsman Service has confirmed it will collect fees from the industry of £24.5 million in 2016/17.

The FCA has granted full discretionary fund management permission to Succession Group, the company announced this morning.

The FSCS and Financial Ombudsman Service could both be set to undergo significant reforms after recommendations published this morning by the FAMR.

There is a “clear need for intervention” in the advice market from the FCA and government, a major review has concluded.