Investment managers should only use client dealing commission to pay for substantive research or costs related to executing trades, the Financial Conduct Authority (FCA) said today as it published a policy statement on forthcoming changes to dealing commission rules. . .

http://www.fca.org.uk/news/expectations-for-investment-managers-dealing-commission

The report identifies and assesses differences and gaps in regulatory approaches to point of sale (POS) disclosure for investment and savings products across the insurance, banking and securities sectors, and considers whether the approaches need to be further aligned across sectors. It sets out eight recommendations, for use mainly by policymakers and supervisors to assist them in considering, developing or modifying their POS disclosure regulations. . .

http://www.bis.org/publ/joint35.htm

The boss of Barclays, Antony Jenkins, says he understands the public’s concern  about bankers pay but that levels of pay need to be competitive . . .

http://www.bbc.co.uk/news/business-27361164#

Mario Draghi may need to take action to stop money-market investors getting ahead of themselves. . .

http://www.bloomberg.com/news/2014-05-05/draghi-grapples-with-money-markets-signaling-recovery-too-early.html

Investment bank profits fell 49% to £668m in the first three months of the year because of what the bank described as difficult trading conditions . . .

http://www.theguardian.com/business/2014/may/06/barclays-profits-dragged-down-investment-bank