Shares in Resolution and peers tumbled today following reports the FCA is to probe 30 million legacy insurance policies.

The Financial Conduct Authority is to launch an investigation in to 30 million insurance policies sold across three decades, looking for signs they were "unfair" to customers, according to reports.

Legal & General, one of the country's largest annuity providers, has said it expects to see revenues from annuity products fall by three quarters by the end of 2015 following a sweeping reform of the sector.

The UK's headline inflation rate dropped to 1.7% in February, its lowest level since late 2009.

Royal Mail, which was recently floated on the stock exchange, has announced it is scrapping a total of 1300 roles in a cost-cutting drive, with shares falling as the initial cost of the cuts spooks investors.

The chief executive of Hargreaves Lansdown has said the group is considering cutting charges later this year following a surge of activity across the platform sector.

Fidelity Worldwide Investment is to stop paying trail commission to IFAs on Anthony Bolton's China Special Situations investment trust.

The top-performing Schroder Real Estate investment trust has launched a £40m cash call to shareholders in order to support a series of acquisitions across the property sector.

Platforms have been labelled the biggest winners of the 2014 Budget, as the increase in the ISA allowance and a move to provide more flexibility for retirees gives the sector a boost.

Hargreaves Lansdown's chief executive Ian Gorham has said the reform of the rules around annuities in the 2014 Budget is long overdue, and could well spell the end for standard annuity products.