Insurance

Network Pi Financial has lost another case at the Financial Ombudsman Service (FOS), this time over advice one of its appointed representatives gave to a World War II veteran to invest £90,000 in an unregulated collective investment scheme (UCIS).

Former Charlton Athletic FC footballer Richard Rufus, who later began a career as a 'financial consultant', has been declared bankrupt.

The Association of British Insurers (ABI) has announced that three members of its executive team, including Stephen Gay and Maggie Craig, are to leave the trade body.

Simplybiz has bought back Standard Life's 10% share in the group for an undisclosed sum.

A couple is pursuing national IFA firms Positive Solutions and 2plan Wealth Management for what they claim was negligent advice to invest in high risk unregulated investments - including using money they had received from a critical illness (CI) payout....

IFA Willow Financial has been forced into administration over £1.5m in liabilities relating to its Arch cru advice - but has been bought back by some of its former partners at a knock-down price, and they won't be footing the bill for claims.

Aviva has completed the sale of its US life and annuities business for £500m more than it originally announced.

More than half of advisers (53%) have found the transition to the Retail Distribution Review (RDR) either smooth or very smooth, according to research published today.

RSM Tenon has appointed administrators and has suspended its shares following an announcement this morning a proposed takeover deal by Baker Tilly has fallen through.

Advisory and accountancy group RSM Tenon has conceded that, should an offer for the business be forthcoming from Baker Tilly, its high debts mean "minimal value, if any" will be attributed to its issued share capital.