Regulation

Life insurance policies and annuity contracts will come under increased scrutiny from HM Revenue & Customs (HMRC) as it cracks down on income tax avoidance.

The European Parliament's two biggest parties have tentatively agreed to include measures related to Solvency II legislation that could save the industry billions and avoid a long delay to the rules' implementation, according to reports.

Hector Sants has announced he is to quit as the head of the FSA in the summer.

More than one third of people going through Incapacity Benefit reassessment have been found to be fit for work, according to the first set of official statistics released 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.

The British Insurance Brokers' Association (Biba) has called on the Chancellor not to raise Insurance Premium Tax (IPT) above its current level of 6% in the upcoming Budget on 21 March.

The UK economy is perpetually subjected to shocks and pressures, rendering hopes of maintaining financial stability indefinitely "over-optimistic", Monetary Policy Committee (MPC) member Paul Fisher said last night.

Shadow Chancellor Ed Balls has called for the government to cut pensions tax relief to 26% for people earning more than £150,000 per year.

The Financial Services Authority (FSA) has censured Bank of Scotland for failings within its Corporate Division between January 2006 and December 2008.

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.