The FCA has launched a major review of the funding of the Financial Services Compensation Scheme due to soaring costs, including rising SIPP claims.

The FCA is consulting on plans to significantly strengthen regulation of appointed representatives (ARs) after analysis showed firms employing appointed reps suffered four times as many complaints as firms not using appointed reps.

Investment manager Abrdn has confirmed plans to buy the direct to consumer financial platform Interactive Investor for £1.49bn.

SIPP providers will be required from June to “strongly nudge” pension savers to get government-funded pension guidance when they decide to access their pension savings, the FCA confirmed today.

The Financial Services Compensation Scheme reported today that it has so far received 1,018 claims from former members of the British Steel Pension Scheme (BSPS).