UK - The £4.5m takeover of Ernst & Young Financial Management by IFA Cavanagh has been given the go-ahead by the Financial Services Authority.
The deal will create a UK-wide group with 200 employees in 11 branches.
Cavanagh chief executive Andrew Fay said: “We can now become a major UK force in providing financial advice to high net worth individuals across the UK.”
The group will continue to service high net worth individuals within Ernst and Young LLP.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.
An independent expert panel will be commissioned to review how the £6.1bn funding deficit figure for the Universities Superannuation Scheme (USS) was reached, Universities UK (UUK) has announced.