Employers hit with first escalating auto-enrol fines

Fixed penalty notices also increase in Q1.

65% unaware of changes to pensions death tax reforms

Advisers urged to reduce IHT bills through pensions.

Trade bodies call for OBR-style Pensions Commission

An independent pensions commission should both oversee the UK’s retirement savings, and make policy recommendations say a group of trade bodies.

Concern as just three providers sign up to pension governance standard

The Pensions Regulator slammed for failing to promote good practice.

Tesco Bank launches first range of 95% LTV products

Rates start from 4.49 per cent.

Treasury spends £37k on Pension Wise branding

The Government has spent £37,000 developing a “brand indentity” for new guidance service Pension Wise.

RBS reports £446m Q1 loss as forex costs bite

Bank has set aside £856m for litigation and conduct issues. 

Altmann: Tradeable annuities advice hurdle must not be lower than DB transfers

Experts call for providers to be able to buy back their own annuities.

Leeds Building Society restructures broker division

Team to be led by Louisa Sedgwick, who becomes head of intermediary distribution.

TSB increases mortgage lending over 51%

In the first three months since launching its intermediary proposition, 20 per cent of its lending came from brokers

Alliance Trust spent £3m on row with Elliott Advisors

Cost of battle with shareholder revealed at AGM. 

Three charged with insider dealing

Offences relate to trading in shares of IT firm Logica. 

House prices rise 5.2% year-on-year

House prices grew on an annual basis for the first time in seven months, according to Nationwide.

Towers Watson and Threadneedle parent circle Russell Investments

At least six bidders circling Russell Investments in the second round of auction process. 

Builders say it is impossible to build 200,000 homes a year

Two-thirds of housebuilders say the maximum that could be achieved is 180,000.

IFS attacks politicians' pension tax relief plans

The IFS has slammed politicians’ plans to reform pensions tax relief, which it says avoid “overly generous” alternatives.

Man jailed for failing to pay back £460k insider dealing gains

Member of insider dealing ring was sentenced to three and a half years in 2012. 

Advisers call for an end to 'galling' FSCS levy hikes

Increased FSCS bills are “galling” say advisers, who demand more targeted costs and tougher action on poor conduct. 

Santander reports 12% drop in mortgage lending

Pre-tax profit grew 13 per cent, from £416m in the first quarter of 2014 to £470m in Q1 2015.

Alliance Trust and Elliott Advisors reach agreement ahead of AGM

Row between Alliance Trust and its biggest shareholder over governance resolved. 

Stamp duty holiday could leave FTBs 'worse off'

Labour’s proposed stamp duty holiday will “distort the market” and could make first-time buyers worse off, says macro-economic research firm Capital Economics.

Standard Life transfers £32m investment trust book to ATS

ATS to take on administration of 1,300 customers at the end of May. 

BlackRock enters UK drawdown market

Occupational scheme members offered straight-through product.

Drawdown and DB transfers push LV= sales up 15%

Flexible guarantee bond sales double.

Government warns BP over foreign takeover

Downing Street has told BP it would oppose any potential takeover of the company, the FT reports. 

Sesame confirms Intrinsic AR referral deal

Money Marketing revealed tie-up last month.

Pensions governance committees 'retirement homes' for industry veterans

One trustee firm represented on four of the largest providers’ committees.

PFS launches consumer education website

Site features money guidance and tools and a new adviser directory. 

Election 2015: What are the key manifesto pledges affecting advisers?

With the general election now weeks away, Money Marketing looks at the key election pledges impacting advisers and their clients.

Annuity rates plummet to lowest level since 2012

Annuity rates are falling faster since the turn of the year, according to Moneyfacts.

Could Conservatives' Pension Wise review spell the end for MAS?

The Conservatives want to extend the remit of Pension Wise to cover all working people.

Advisers back Tories as election looms

Over half of advisers plan to vote Conservative next month.

Think-tank: UK market still well suited to annuities despite pension freedoms

UK’s tax regime, low state pension and sophisticated market mean annuities remain attractive.

'A low fix would be the best xmas present': Why Deutsche Bank was fined £1.7bn

Bank misled the FCA and took years to produce requested evidence. 

Deutsche Bank hit with £1.7bn Libor rigging fines

The fine is the largest ever for Libor and Euribor-related misconduct.

Major parties accused of using 'made up' tax avoidance figures

Politicians across the UK’s three largest parties are using tax avoidance figures to make their sums add up, the IFS says.

Broker facing jail for role in £700,000 fraud

Marcus Copeland admitted fraud and deception charges.

Aldermore joins the Help to Buy equity loan scheme

The lender is offering a two-year fixed rate at 3.98 per cent, with a maximum LTV of 75 per cent.

Labour election win could block cash for annuity plan

A Labour government may roll back plans to develop a secondary market for annuities, Money Marketing can reveal.

Standard Life Investments unveils fourth emerging market debt fund

The SLI Emerging Market Debt Unconstrained fund will be run by Richard House and Kieran Curtis.

Experts brand pensions governance committees 'retirement homes' for industry veterans

One trustee firm represented on four of the largest providers’ committees.

Sainsbury's brings in Colin Snowdon as it eyes mortgage launch

Sainsbury’s Bank has brought in Colin Snowdon as a consultant to investigate a possible launch into mortgages.

High Court winds up £880k property scam offering 51% returns

Fund claimed to offer guaranteed returns of 51 per cent. 

BoE admits it is 'uncertain' what will happen to base rate

MPC voted unanimously to keep base rate at 0.5 per cent in April.

Towry open to talks on saving Sesame adviser school

Beaufort Group looking to garner support to keep school open. 

UK Equity Income tops FundsNetwork bestsellers list

Neil Woodford’s Woodford Equity Income fund the most in-demand portfolio over the period.

Guy Batchelor to leave Countrywide this month

Batchelor joined Countrywide in October 2008.

Old Mutual Wealth hires ex-BNY Mellon and Standard Life directors

Russell Bignall and Sean Mcguire will be business development directors at the firm.

Allfunds named as Europe's biggest platform

The part Santander-owned organistion has overtaken UBS with €147bn in assets.

HSBC to consider ditching UK headquarters

HSBC chairman Douglas Flint has promised shareholders the bank will re-evaluate the location of its headquarters.

Greece goes cap-in-hand to its own government agencies

Troubled nation is asking public sector offices to hand over any spare cash to help it meet its debt obligations.

Sesame to close financial adviser school

Group is consulting with a number of staff after announcing it will scrap its investment network. 

SNP targets 'unfair' pension charges

The SNP has warned that while it backs pension freedoms, it plans to identify and target hidden and unfair charges.

Peter Curran to join Countrywide

Lloyds director of strategic partnerships Peter Curran is set to leave on 30 April.

Woodford's investment trust raises record £800m

Patient Capital trust oversubscribed by almost 10 per cent.

Stewart Cowley to leave Old Mutual

OMGI fixed income director and fund manager Stewart Cowley is to leave the company in June.

HSBC 'reignites the price war' with 1.99% 5-year fix

Product is the first-ever five-year fixed rate below 2 per cent.

Conservatives plan £4bn Lloyds retail share sale

Smaller investors could take part in a £9bn post-election sell-off of Lloyds Banking Group shares.

Conservatives to appoint Ros Altmann consumer protection minister

Altmann will review drawdown charge cap and future of the Money Advice Service.

CML chairman urges next Govt to solve housing crisis 'once and for all'

Council of Mortgage Lenders chairman Moray McDonald has urged the next Government to sort out the housing crisis “once and for all”.

7IM offers direct platform for orphan clients

Wealth manager says there is demand for a direct service from orphan clients. 

Apfa accused of 'giving up' on fight for long-stop

Advisers say Apfa should ‘stick to its principles’ and not consider alternatives to a 15-year long-stop. 

UK unemployment falls to lowest rate since July 2008

UK unemployment fell again to 5.6 per cent in the three months to February 2015, down from 6.9 per cent a year earlier.

Lenders warned over TCF after FOS maximum mortgage age ruling

FOS upholds complaint against HSBC for rejecting a mortgage application based on age. 

IMF knocks back Greek hopes of loan extension

The IMF has spurned hopes of a delay on Greek debt repayments.

Mark Mobius: Now is the time to invest in Nigeria

Mobius sanguine on the region despite recent turbulence. 

Providers urge Govt to reverse annuity buy-back ban

People selling their annuities will get a better price from their original providers, say insurers.

Private equity firms circle £100m 7IM

Wealth manager set to be valued at £100m, Money Marketing understands.

Sales of long-term Ucits funds see February surge

Net sales of long-term Ucits funds soared in February, on the back of strong stock market performance and lower interest rates in Europe.

Tribunal upholds FCA ban for PI broker

Broker banned after submitting a forged document to a court in another matter. 

Apfa fails to act on FSCS costs after calling for NAO audit

Trade body has not submitted a request to the NAO despite calling for it to review FSCS costs. 

German finance minister dampens hopes of Greece bailout deal

German finance minister Wolfgang Schäuble has played down the prospects of progress on Greece’s bailout at talks scheduled for next week.

ABI: Providers took 200,000 calls in first week of pension freedoms

Call volumes were 214% above the average last week. 

Attivo hires three to boost technical team

Adviser and investment management firm aims for 50 appointments over 2015.

Lib Dems promise flat-rate pension tax relief review

The Lib Dems have promised to review a new flat rate of tax relief for pensions.

Ukip plans state pension overhaul

Ukip will set the state pension age at 65 as part of a range of pension reforms.

Old Mutual appoints new chief exec

Julian Roberts to step down from the helm after seven years.

Jupiter increases assets to £34.8bn

The manager saw £883m of net mutual fund flows in Q1.

Apfa: Adviser profits up 5% as market stabilises

Advice firms saw an increase in pre-tax profit and revenue last year, Apfa report shows. 

Tories pledge to extend Right to Buy

Conservatives would offer 1.3m housing association tenants the chance to buy their home. 

UK house prices set to outstrip London for first time in 6 years

Cebr forecasts 1.5 per cent growth in prices outside of capital, with London prices predicted to drop 3.6 per cent.

European fund flows at £46.9bn helped by bonds, again

Only 8 of 33 European markets show net outflows of long-term funds.

GE Money Home Lending put up for sale

Parent company GE Capital plans to concentrate on its industrial and manufacturing businesses.

Labour targets £7.5bn tax evasion clampdown

Opposition has promised to reduce tax avoidance by £7.5bn per year by the midde of the next parliament.

Advice firm pulls out of Bower Retirement integration deal

Plans to integrate equity release specialist Sixty Plus into Bower Retirement Serviceshave have been scrapped, just weeks after being announced.

Tribunal upholds investor's claim over £383k tax bill

Ruling could allow investors to reclaim overpaid tax on investment bond withdrawals. 

PRA confirms 100% annuity compensation

People in receipt of annuities will receive 100 per cent compensation if their provider goes bust.

Advisers blast 'crazy' Pension Wise ad ban

Advisers have lambasted “crazy” Government rules which have led to the withdrawal of TV advertising for Pension Wise.

FOS upholds four Harlequin complaints against advice firms

FOS rules firms failed to consider the suitability of investments within Sipps. 

Tisa publishes guidelines on Isa inheritance rules

Surviving spouses can inherit Isas tax free.

Providers mandate advice on internal pension transfers

L&G, Prudential and Aviva mandating advice before switching customers to modern plans.

France starts HSBC criminal probe and sets €1bn bail

French authorities have improsed a €1bn bail on HSBC as they investigate alleged tax evasion. 

Woodford raises Patient Capital trust limit to £800m

WIM hikes limit in response to investor demand.

Pru in talks with Bravura over UK platform launch

Pru spokesman says the offering is unlikely to be unveiled until the end of 2015.

BoE holds base rate at 0.5% for 73rd month

The Bank of England has again voted to maintain base rates and current quantitative easing programmes.

Sesame members warned over authorisation delays

Experts warn Sesame ARs should take action now as they could face delays in getting directly authorised. 

Standard Life warns advisers over ‘sophisticated’ email scams

The providers’ clients continue to be targeted by scammers. 

Standard Life reports 'unprecedented' demand following pension freedoms

Customers take cash to pay for a wedding and buy a speedboat.

SNP state pension plans 'create more volatile system'

The Scottish National Party will use its power in the next parliament to oppose any further increases in the state pension age.

Govt fails to change Pension Wise website's 'misleading' errors

Site remains in development mode several days into the Government’s pension reforms. 

Origo to launch bulk pension transfer service for DC market

Service to launch by the end of the year. 

Sesame hands ARs deadline as it offers Bankhall incentives

Members will be given three months from the end of April to make a decision about their future. 

Friends Life forced to issue statement to halt share price dive

Insurer’s stock price falls nearly 6 per cent before statement issued.

SunLife appoints former LV= protection head Mark Jones

Jones joins D2C provider SunLife as protection director. 

Labour to scrap non-dom tax status

Ed Miliband will unveil the move as part of a manifesto pledge later today.

Almary Green acquires Lowestoft-based IFA

Advice firm pays undisclosed sum for Jones Financial Planning.

Novia updates platform for pension freedoms

£62.50+VAT a year to enter flexi-access drawdown or to make UFPLS payments.

Partnership revamps annuity options

Provider to offer “benefit based quotes”.

Savers eye drawdown as pension freedoms become reality

Just 8 per cent ask about taking entire pot in one go, according to Hargreaves Lansdown.

MAS launches adviser directory but admits 'anomalies'

MAS says it would like more time to iron out quirks in the system. 

Labour plans mandatory ‘cooling-off period’ amid pension fraud concerns

Labour is seeking “colling off periods” and kite-marking to better protect customers against pension scams. 

Govt scraps Pension Wise TV advertising during 'purdah'

Pension Wise TV ads have been dropped until a new government is formed, despite the introduction of new freedoms next week.

Canaccord Genuity names new CEO

David Kassie is new chief executive.

Will Budget changes harm VCTs and EISs?

The Chancellor tinkered with VCTs and EISs in the latest Budget, but will investors notice?

Experts raise comparison site concerns ahead of FCA protection study

Comparison sites could come under scrutiny for limited protection panels, experts warn. 

FSCS pays out £13m for four Sipp advice firms

Lifeboat scheme has paid out £5m for advice firm censured by FCA last month. 

AFH Financial acquires IFA in £460k deal

Acquisition brings £25m in funds under management.

Friends Life agrees advice tie-up with Foster Denovo

Customers will be referred to the advice firm after speaking to the provider following the introduction of the new freedoms.

FCA must 'get a grip' on adviser fees after 10% hike

Advisers slam regulator for “ever-rising” bill. 

Transact reports £17.8m profit as assets grow 20%

The platform’s assets under administration reached £17bn in September. 

MGM launches 'money back' annuity

Guarantee periods extended up to 30 years and customers given option of value protected benefits up to 100 per cent of original purchase.

Close Sesame: What next for Sesame Bankhall members?

The UK’s largest advice network will soon be a network no more.