Members of parliament are set to receive a pay rise of more than £6,000 from 2015, though other allowances will be scaled back, the MPs expenses watchdog is set to recommend on Thursday.

A ‘mansion tax' on all homes worth more than £2m would cost the owners as much as £36,000 a year on average, according to Whitehall analysis.

Financial adviser and consolidator Perspective Financial has unveiled plans to float on the Alternative Investment Market (AIM) in a move to raise £28m.

The Financial Conduct Authority (FCA) is set to examine wealth managers' and private banks' business models as it establishes a new division to scrutinise the sector.

Wealth manager Ashcourt Rowan posted a loss of £2.5m in the 12 months to April as the group continues its transformation into a holistic financial planning business.

Financial advisers are being invited to cast their votes in three key categories at the Aberdeen UK Platform Awards.

The former chief executive of collapsed brokerage firm MF Global has been charged with misappropriating about £1bn of client money.

Legal & General Assurance Society has acquired closed UK annuity buy-out company Lucida from LCM Holdings in a deal worth £151m.

Outgoing Bank of England (BoE) governor Sir Mervyn King has accused banks of attempting to influence financial regulation by putting pressure on senior politicians - including the Prime Minister.

Reducing the base rate from its current historical low of 0.5% into negative territory "remains an option" for the Bank of England's Monetary Policy Committee (MPC), deputy governor Charles Bean has said.