The Financial Services Compensation Scheme is forecasting a levy for 2021/22 of £1.04bn, up £339m from the £700m raised the previous year due mainly to soaring numbers of claims.

NS&I, the government-backed savings provider, has promised better service after being overwhelmed by a surge in business in the second half of 2020 before it slashed its rates.

The Financial Conduct Authority (FCA) has proposed a price cap on the fees claims management companies (CMCs) charge their customers in relation to claims for financial products and services.

Client assets at Close Brothers Asset Management have rebounded to £15bn at the end of 2020.

Nucleus has launched its new model portfolio service, Nucleus IMX, after it was soft launched in 2020.

There was a 12.5% drop in the sales of equity release plans in 2020, according to a new report.

The Serious Fraud Office has secured an increased confiscation order against former stockbroker and convicted Ponzi scheme fraudster Nicholas Levene.

Platform assets administration at investment platform AJ Bell rose 17% to £55.2bn in 2020, according to its annual results released today.

Wealth manager and pensions firm Mattioli Woods has taken a stake in Tiller Group, a financial technology (fintech) company which closed its robo advice arm in 2019.

The FCA has revealed that 50% of authorised firms previously using the Gabriel data reporting system have moved across to the regulator’s new RegData data collection system.