News

The Bank of England has launched a consultation on whether to scrap affordability rules for mortgage lending. In 2014, the bank's Financial Policy Committee (FPC) introduced two Recommendations to guard against a loosening in mortgage underwriting standards and a material increase in household indeb

abrdn has reported a 6% rise in profits before tax with figures reaching £1.15 billion in 2021. Adjusted operating profits rose to £323m, an increase of 47% from the £219m reported in 2020. Total assets under management and administration also increased by 1% to £542bn.

Equity investment in Scotland's smaller businesses reached £403 million by the end of 2021's third quarter, more than double the same period in 2020, according to new research from the British Business Bank. Total investment values increased by 141% compared to the first nine months of 2020 an

Accountancy and business advisory firm Johnston Carmichael has published its annual results for the financial year ending 31 May 2021, showing growth despite the challenges of the pandemic. Compared with the previous financial year when profitability was adversely impacted by COVID, turnover rose by

From today new restrictions will apply to claims management companies (CMCs) to prevent them from charging excessive fees to consumers owed compensation from financial services firms. Under new Financial Conduct Authority (FCA) rules in force from today, the maximum consumers can be charged will dep

Key players in the financial services industry are re-evaluating their approach to growth and battling for the best talent, according to a new ‘State of the Industry’ report from Barclays Corporate Banking.

Tom MacLennan, Callum Carmichael and Michelle Elliot, partners with FRP Advisory, have been appointed joint administrators of one of the UK’s largest producers and processors of fish and seafood, Dawnfresh Holdings Limited, Dawnfresh Seafoods Limited and R R Spink & Sons (Arbroath) Limited

A student has been caught with a Bluetooth device surgically implanted in his ear to enable him to cheat in a medical exam. The Indian man used the device during his last attempt at passing a test. It was linked to a phone in a hidden pocket of his trousers.

Eilidh Mactaggart, chief executive officer, of the Scottish National Investment Bank (SNIB) has resigned. The bank has announced that Sarah Roughead will act as CEO with immediate effect whilst the board initiates a process to find a new, permanent CEO.

A new taskforce has been set up to transition Scotland into a global leader for Green and Sustainable Financial Services. Finance secretary Kate Forbes and UN Special Envoy for climate action and finance Mark Carney will be amongst those speaking at a public launch of the taskforce on Monday 28 Febr

Asset & wealth management firm AssetCo has reached an agreement to acquire the entire issued share capital of Revera Asset Management Limited for an effective total consideration of £2.8 million. The consideration will be satisfied by the issue of 54,639 new ordinary shares of 10p each in

Scottish legal firm Anderson Strathern has appointed former Deloitte partner Mike McGregor as non-executive director, replacing Graeme Bissett on the firm’s board - Bissett had served two terms on the board since 2015. Mr McGregor spent over 26 years at Deloitte in Scotland, latterly with thei

PwC Canada has been fined over $900,000 by Canadian and US accounting regulators over exam cheating involving 1,100 of its auditors. The Canadian Public Accountability Board and the US Public Company Accounting Oversight Board found that PwC had failed to notice that staff were sharing answers in ex

Mackie's of Scotland has posted record revenues and profits despite the dual challenges of rising costs and Covid-lockdown restrictions. Turnover at the family-owned firm increased by 11% to £18.5 million (up from £16.7m) while operating profit rose by 19% to £4.1m (compared to &po

A major event was hosted in Glasgow on Friday to bring focus to investment opportunities in the Caribbean island of Barbados.