Britain’s markets watchdog has proposed banning car dealers and brokers from receiving commission linked to interest rates on loans, a step it said would save consumers £165m (€188m) annually.

Investors have remained cool on IFG despite the Irish-founded financial services group being touted as a potential beneficiary of a shake-up of the UK’s £500bn (€565m) investment funds platforms sector.

From next year, banks in Britain will have to publish data every quarter to show the quality of service they provide to customers to try to boost competition, the Financial Conduct Authority has proposed.