A ‘yes' vote in the Scottish referendum could see Standard Life move its pensions, investment and other long-term savings operations out of the country, the company has said.

Some 97% of the £943m in fines collected by the financial regulator between 2010 and 2013 came from settlements, according to research from law firm Freshfields.

Phoenix Group has reported a boost to profits in the first half of the year, while the sale of Ignis allowed it to pay down its debt.

Newly-created position

Legal & General (L&G), the country's biggest pension fund manager, is set to end its membership of the Association of British Insurers (ABI), according to reports.

The first significant lawsuit from the Keydata scandal has been issued against US-based brokerage CRT Capital, according to the Financial Times.

Mutual LV= has reported strong annuity sales for the second quarter of the year despite the sweeping changes to retirement income announced in the 2014 Budget.

Closed life consolidator Phoenix has comprehensively refinanced its debt to strengthen its balance sheet and better support its growth plans.

Advice firms have raised fears over "systemic mis-selling" through simplified advice and said ongoing regulatory uncertainty has stifled market developments, according to the FCA.

The Bank of England's new deputy governor, Minouche Shafik, has hinted to MPs that interest rates could be about to go up, the FT reports.