UK - The Financial Services Authority has withdrawn authorisation from 19 firms over the year to June 30 for failing to correct serious failings.
The FSAs Threshold Conditions Team, which deals mainly with small regulated firms, removes authorisation for a variety of reasons including: lack of rofessional indemnity insurance, failure to comply with ombudsman awards, and non-payment of FSA fees.
The 19 firms that have been struck off include: Oriental & African Strategic Investment Services, Keith Taylor Financial Services, Birrell Financial Services, and FT Investment & Insurance Consultants.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.