Skandia is in talks with fund managers about retaining rebates in its pricing structure after unveiling details of its unbundled pricing model due out in the second half of next year.

The FTSE has opened trading in positive territory amid signs European policy makers are moving to stem the eurozone debt crisis.

Platform giant Cofunds has denied it is instigating a pricing war with the wraps as it rolls out an unbundled charging model.

(Updated 2:30pm) Banks are continuing to take the brunt of the latest market sell-off as fresh fears of a European banking crisis emerged on Monday.

The FTSE 100 is extending early losses after data from the vital UK services sector showed the largest decline in activity in a decade.

Fidelity FundsNetwork is disclosing its fund manager fees as it looks to create a more transparent market and prove its pricing policy is free from commercial bias.

Advisers have rushed to income-generating funds amid recent market turbulence, according to FundsNetwork sales figures.

Spain has put in place a public sector borrowing cap in an effort to tackle its debt burden, following calls from peers in Europe to take action.

Morgan Stanley has warned the global economy is on the brink of recession as the US investment bank slashed its growth forecasts.

European markets have fallen further into the red in mid-morning trading on the back of recessionary fears, with the FTSE 100 suffering triple-digit losses.