A director from the Prudential Regulation Authority is joining the FCA for a one year role as the ripple effects of Martin Wheatley’s looming departure spread out.

Fines worth just under £170,000 were handed out to firms for auto-enrolment failings in the 12 months from April 2014.

Jargon must be binned as part of an FCA shake up to simplify switching between cash savings accounts, providers have been told.

A one-day target for finance firms to resolve customer complaints is to be abolished while premium rate charges will be banned.

The FCA says it is making decisions on whether to refer a firm or individual to its enforcement division for a formal investigation more ‘transparent’.

The Pensions Ombudsman has admitted it has been struggling to cope with rising demand as figures show a 42% increase in investigations over five years.

Comics are one of the “smarter and more effective” ways firms should be communicating with consumers, the FCA has suggested.

The FCA has set out options for measuring value of general insurance products following concerns about poor value and a lack of effective competition.

A £75m bill is heading the way of financial advisers to pay for the FCA in this financial year – a jump of 10.2%.

The FCA must fire a warning to firms that barriers stopping savers accessing their pensions are unacceptable, the Government has commanded.