Almost half of the population do not know what an annuity is, according to Standard Life.

Over three quarters of advisers are confident in the future of their business post-RDR, according to Ascentric.

The £10.5m fine by the Financial Services Authority for HSBC this week brings the total FSA fines this year to just under £62m.

Pension providers are failing to meet advisers expectations of service for administration of existing business, according to Defaqto.

The Financial Services Authority has fined HSBC £10.5m for inappropriate investment advice to elderly customers by its subsidiary firm NHFA Limited.

Hargreaves Lansdown has added a new range of low-cost tracker funds to its Vantage service.

The Financial Services Authority has appointed Paul Stockton as a non-executive director to the Board of the Financial Services Compensation Scheme.

The Institute of Financial Planning held its South West conference in Bristol yesterday.

This story was published in 2011: This Next week marks the 25^th anniversary of the privatisation of British Gas in December 1986.