HSBC's chairman has said the bank "deeply regrets" the "unacceptable" practices within its Swiss private bank which allowed clients to avoid tax, and plans to sell off parts of the business following disappointing 2014 results.

The FCA has published a feedback statement on dealing commissions, saying it strongly supports ESMA's recommendations and wants to implement its own rules alongside MiFID II.

The Financial Conduct Authority (FCA) is to launch its first review of competition within investment banking, with a view to conduct a similar market study into asset management later in the year.

Fund fashions and fads

BNP Paribas Investment Partners has appointed Mike Woolley as head of external distribution for the UK.

'No investment case for oil majors'

Embattled supermarket Tesco has suffered a further blow in the form of an investigation by the industry regulator into its treatment of suppliers.

Former Miton fund manager James Sullivan has unveiled the top 10 holdings in one of the first fund offerings from new firm Coram Asset Management, revealing significant exposure to Asia.

The core-satellite conundrum

Natixis Global Asset Management has unveiled two multi-factor equity funds run by its French affiliate Seeyond.