New research suggests that wealthier investors are the most likely to be victims of financial scams with 49% of those with assets of £250,000 or more saying they have been victims.

The Prudential Regulation Authority has fined Metro Bank £5.376m for governance failings.

Platform engine provider FNZ has today sold off its acquired rival GBST to a private equity firm after the Competition and Markets Authority (CMA) blocked FNZ’s acquisition of GBST.

The FCA is to consult on launching a redress scheme for pension transfer victims of the British Steel Pension Scheme (BSPS) debacle.

Three in 10 (29%) of clients say that their wealth managers may have incorrectly assessed their attitude to investment risk.

The FCA has extended temporary measures allowing firms to opt out of 10% depreciation notices to investors for a further 12 months to December 2022.

The Financial Services Compensation Scheme has warned LCF victims currently receiving compensation cheques that they could be targeted by scammers.

NS&I is to increase interest rates on its Direct ISA, Direct Saver and Income Bonds to 0.35% from 29 December following the recent Bank of England base rate rise.

US-owned investment and data provider Morningstar has snapped up the UK and international arms of Australian-owned platform Praemium for £35m.

Retirement provider XPS Pension Group says its Pension Transfer Value Index climbed to a new high of £270,000 at the end of November due to forecasts of increased inflation and a dip in gilt yields.