Setting up the Prudential Regulation Authority (PRA) could cost up to £150m, the Financial Services Authority (FSA) said today.

Each of the nine members of the Bank of England's Monetary Policy Committee (MPC) voted to hold interest rates at the historic low of 0.5% this month, minutes from their latest meeting show.

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

A deputy governor of the Bank of England has launched an outspoken attack on new European regulations that he warns could create further financial crises.

Lobby group Adviser Alliance has had its application for a judicial review into the absence of an industry long-stop rejected - but has vowed to continue the fight for a time-bar on complaints.

Sesame Bankhall Group has launched an online learning management system to enhance its training and development support for network members.

The ABI has urged the FSA against introducing "radical interventions" in product regulation in a strongly-worded rebuke of its recent discussion paper.

Aegon is halving the number of its UK sales centres as part of a restructure designed to cut operating costs by 25% by the end of next year.

The FSA has fined Zurich Insurance UK £2.27m for failing to prevent loss of customers' confidential information - the biggest fine levied on a single firm for data security failings.

The FSA will not push ahead with an ethical code just for investment advisers and has confirmed it will focus on key individuals within firms.