Aviva has said it expects its acquisition of rival Friends Life to generate extra revenue of £600m over the next two years, including and cost savings for the company of £225m.

Structured product providers must do more to ensure their products are understood by consumers who tend to significantly overestimate the returns on offer, the FCA has said.

Arch cru investors have been told they must continue to wait to get back what value there is left in the failed fund range, as the liquidation process looks set to drag on beyond this year.

Investors in failed fund Connaught who are trying to claw back some of their losses must wait longer in limbo as the regulator admits it has still not brokered a deal to secure them redress.

Assets under administration at Standard Life's wrap platform rose by 26% last year to move above £20bn for the first time, the firm has said.

Ian Aylward has cut Aviva Investors' multi-manager exposure to US equities to an underweight position for the first time since 2011, fearing the stocks are deeply over valued.

Germany has said it is willing to compromise with Greece on the terms of repaying its bailout debt.

Consolidator AFH Financial has acquired Kidderminster-based advice firm K.L. Plester Financial Services for £1.7m.

The Financial Conduct Authority (FCA) was "not aware" of allegations HSBC helped wealthy clients evade millions in tax until they appeared in the media, chief executive Martin Wheatley has told MPs.

An IFA and the directors of banking giants Goldman Sachs and Lloyds will head up the panels that raise the industry's voice on policymaking to the ear of the regulator.