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Forty financial advice firms hit by BSPS claims have so far failed with a further seven under investigation, latest FSCS data shows.

The £39m bid for SIPP provider STM Group has been extended for a fourth time as chief executive Alan Kentish strives to buy a chunk of the company.

Investment trust Caledonia Investments has sold its majority stake in investment manager, platform and SIPP provider 7IM for £255m.

The £242m merger of platform Nucleus and SIPP and SSAS provider Curtis Banks has received regulatory approval after the conclusion of a review by the Competition and Markets Authority (CMA).

Investment vehicle Pension SuperFund Capital has lowered its offer for SIPP provider STM Group from 70p per share to 67p per share.

Standard Life has re-entered the annuity market as annuity rates rise and demand for annuities surges.

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