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2 July 2008

Money Marketing

  • Payne made MD at BM Solutions

    3 July 2008

    The Mortgage Business managing director Nigel Payne has had his role extended to managing director of BM Solutions. This comes after former MD Tim Hague moved to head savings and investments at Birmingham Midshire.

  • 0.9% Dip in house prices

    3 July 2008

    House prices fell by 0.9 per cent in June, taking them 6.3 per cent lower than at the same time last year, according to Nationwide. Prices are still 4 per cent higher than two years ago.

  • 85K fine for insider trading

    3 July 2008

    The FSA has fined IT technician John Shevlin 85,000 for market abuse after he traded in The Body Shop International shares off the back of inside information.

  • A shaw thing

    3 July 2008

    Annie Shaw is a freelance financial journalistThe week started with a quick snifter with the journalists' group my husband calls "the witches' coven", that I have been admonished for calling "the agony aunts" (not all are female) and which is in fact a group of senior freelance journalists, many, but not all, of whom are newspaper consumer champions, who like to chew the fat and put the world to rights once a month.

  • Adviser Fund Index Outward bound

    3 July 2008

    Panellists continued to show their ruthless streak during the latest Adviser Fund Index rebalancing, as they cut the number of funds in the Cautious index to under 100.

  • Advisers hit out as Clerical axes trail

    3 July 2008

    Clerical Medical has stopped paying trail commission to the IFAs of several hundred clients after concluding that the advisers are no longer offering a continued service.

  • Aegon adds bare trust to offshore range

    3 July 2008

    Aegon Scottish Equitable is to add a bare discounted gift trust to its offshore range.

  • Aegon calls for PADA to implement dual charging structure

    3 July 2008

    Aegon is calling for the personal accounts delivery authority to implement a charging structure for personal accounts that combines a percentage contribution charge with an annual management charge.

  • Aegon Scottish Equitable adds 5 illnesses to CI policy

    4 July 2008

    Aegon Scottish Equitable will be adding five more illnesses to its critical illness policy, taking the number of conditions covered to 36.

  • Aifa demands more clarity as 87% miss TCF deadline

    3 July 2008

    Aifa has called on the FSA to give more guidance to advisers over treating customers fairly after only 13 per cent of bigger firms met the March deadline.

  • Andy Milburn joins Munich Re

    7 July 2008

    Andy Milburn has joined Munich Re as its new head of marketing for its UK Life branch business.

  • Artemis increases SmartGarp holdings

    3 July 2008

    Artemis has boosted the number of holdings in its three SmartGarp funds following a six-month review of the quants-driven process.

  • Australian firm plans UK platform

    3 July 2008

    Australian financial services firm Macquarie hopes to launch a UK platform by the new year. It is targeting financial planners with long-term service-based propositions rather than transactional business models.

  • Baillie Gifford & Co. appoints new manager and director to trust

    8 July 2008

    Baillie Gifford & Co. has announced the appointment of Mike Gush to co-manage the Pacific Horizon investment trust.

  • Bank's liquidity scheme disappoints

    3 July 2008

    New Star chief economist Simon Ward says UK interbank data reveals the disappointing impact of the 50bn special liquidity scheme. Bank of England figures show interbank lending fell by 23m in April and May.

  • Banks rescue B&B after TPG pulls out of £179m deal

    4 July 2008

    US investment group Texas Pacific Group has withdrawn its £179 million cash injection for Bradford & Bingley after learning that ratings agency Moody’s is to downgrade the bank once again.

  • Barclays selects commodities

    3 July 2008

    Barclays Wealth has brought out the second issue of the commodities select plan, a capital-protected bond linked to a weighted basket of commodities.

  • Barclays Wealth launches adviser guide to structured products

    2 July 2008

    Barclays Wealth has launched a free adviser guide to structured investment products.

  • BlackRock may look offshore for UK fund ideas

    3 July 2008

    BlackRock managing director Alex Hoctor-Duncan says the group could look to its offshore range for new additions to its UK offering.

  • Bond funds take half of inflows as investors stay cautious

    3 July 2008

    The Investment Management Association says net retail sales fell markedly in May, with over half going into bond funds.

  • Briault gets a £528k payout

    3 July 2008

    Former FSA retail markets managing director Clive Briault was given a £528,952 compensation payout after leaving the regulator following the Northern Rock debacle.

  • Bridging Loans secures credit extension

    3 July 2008

  • British Chambers of Commerce warns of UK recession risk

    8 July 2008

    The British Chambers of Commerce has warned that its quarterly economic survey shows a serious risk of recession in the UK.

  • Broker Talkback

    3 July 2008

  • Brokers unhappy as Accord retention fees axed

    3 July 2008

    Accord Mortgages has stopped paying retention fees to brokers whose clients have an existing credit repair mortgage but do not improve to prime status by the time they remortgage.

  • Brought to account

    3 July 2008

    It is more than two months since the deadline for HM Revenue & Customs to decide whether to accept declarations by offshore bank account holders under the offshore disclosure facility.

  • Bupa launches international cover

    8 July 2008

    Bupa International has unveiled plans to launch international medicalcover for people living and working in new EU countries.

  • C&G appoints Farley in top broker role

    3 July 2008

    Cheltenham & Gloucester has appointed Jon Farley as intermediary sales director. He joins from Barclays where he was regional sales and service director at its premier banking division.

  • Casper Rock joins Architas as deputy CIO

    2 July 2008

    Axa has confirmed the appointment of Casper Rock as deputy chief investment officer of new multi-manager platform Architas.

  • Caution reigns supreme for troubled UK property market

    2 July 2008

    Despite a reduction in outflows it seems the majority of UK property fund providers are not counting their chickens when it comes to accessing the troubled sector.

  • Conforto acquires The McCroddan Partnership

    2 July 2008

    Conforto Financial Management has acquired Hertfordshire-based IFA firm, The McCroddan Partnership, for an undisclosed sum.

  • Conservatives pledge massive tax law shake-up

    3 July 2008

    The Conservative Party has pledged a huge shake-up to the way tax law is made with greater Parliamentary scrutiny and a commitment to publish major technical changes no later than the pre-Budget report.

  • Cowdery puts off consolidation plan after B&B rejection

    3 July 2008

    Clive Cowdery's Resolution will return to the market in September with plans to buy mortgage assets from investment and retail banks after it failed to secure a big shareholding in Bradford & Bingley.

  • Ctf contributions are on the increase says Tisa

    4 July 2008

    Child trust funds contribution levels are increasing according to the sixth quarterly survey from the Tax incentivised savings association.

  • Darling increases savings protection

    3 July 2008

    Chancellor Alistair Darling has proposed raising the compensation limit for savers with deposits in failed banks from £35,000 to £50,000 but a Treasury consultation paper stops short of recommending pre-funding for the Financial Services Compensation Scheme.

  • Davy rules out flotation for SimplyBiz

    3 July 2008

    SimplyBiz chairman Ken Davy says the company has no plans for a stockmarket flotation.

  • Defining moment

    3 July 2008

    There is an interesting regulatory juxtaposition between the Competition Commission's review of payment protection insurance and the FSA's retail distribution review interim report.

  • Departures continue at Origen as three more quit firm

    3 July 2008

    Origen has lost another trio of staff members, including its head of annuities Nick Flynn.

  • Deputy BoE governor warns on oil price correction

    3 July 2008

    The new deputy governor of the Bank of England has warned of the economic impact of a correction in oil prices.

  • Drawdown is favoured strategy for IFAs' funds

    3 July 2008

    Over half of IFAs intend to go into income withdrawal with their entire pension savings, according to Skandia research.

  • Drops in house prices not devastating, says GE Money

    3 July 2008

    Recent drops in house prices may not be as devastating as commonly believed, says GE Money Home Lending.

  • European Pensions Management launches Sipp with no AMC

    4 July 2008

    European Pensions Management has launched its no annual charge Funds Sipp.

  • Fidelity International signs €12.4 million French property deal

    3 July 2008

    Fidelity International is growing its pan-European real estate fund with the purchase of a French property development for €12.4 million.

  • Fidelity's flagship steers new course

    3 July 2008

    After undergoing a period of significant underperformance, Fidelity head of IFA channel Peter Hicks believes that the firm's flagship UK range has seen the light at the end of the tunnel.

  • Financial remuneration increasingly linked to companies' codes of ethical behaviour

    4 July 2008

    An increasing number of companies are looking to link bonuses to ethical behaviour, according to a survey of the largest publicly listed companies in Europe.

  • Fortis finally arrives

    8 July 2008

    While it was probably the protection industry's worst kept secret, Fortis has finally launched its UK life insurance business this week.

  • Fortis launches UK life business

    7 July 2008

    Fortis is today launching a UK life insurance business to sit alongside its general insurance proposition.

  • Free-range finances

    3 July 2008

    I have a great deal of my financial wealth with an insurance company, consisting of an investment bond, unit trusts and an Isa, as well as close to £100,000 of my pension fund. However, I am becoming increasingly concerned about the performance of this company. Can I trust it when it tells me that I should take the long view and that my investments are safe with it?

  • Friends Prov CEO of life and pensions Ben Gunn to step down

    3 July 2008

    Friends Provident has announced that the firms chief executive officer for life and pensions Ben Gunn is to retire at the end of 2008.

  • Friends unlocks property fund

    3 July 2008

    Providers are cautious about re-opening their property funds to redemptions despite lower volatility in the sector.

  • FSA and ICSA push for boiler room warnings

    8 July 2008

    The FSA and the Institute of Chartered Secretaries and Administrators Registrars Group are urging UK listed companies to send warnings about boiler rooms to their shareholders.

  • FSA announces CfD disclosure regime

    2 July 2008

    The FSA will implement a general disclosure regime for long contracts for difference positions, with a 3 per cent disclosure threshold.

  • FSA tax warning to advisers on Qrops

    3 July 2008

  • Generation gain

    3 July 2008

    IFAs like to think of themselves as the natural place for a consumer to turn for advice but research from Zurich suggests that the reality is vastly different. In a survey conducted by YouGov, only 16 per cent of consumers said they had an adviser. A further 27 per cent said they had previously had an adviser but not presently and 57 per cent said they had never taken financial advice.

  • Govt and FSA unveil financial capability plan

    8 July 2008

    The Government and the FSA have announced plans to provide free support services for people with financial concerns.

  • Govt to provide £270m for 5,000 more homes

    2 July 2008

    The Government has announced it will be providing a further £270m through the Housing Corporation to deliver an additional 3,800 homes for social rent and 1,500 shared ownership homes over the next three years.

  • Hedge funds fall short

    7 July 2008

    It seems the uproar from the hedge fund industry over the FSA's new rules on shorting was somewhat justified, with many struggling to get their disclosures right.

  • Henderson bides its time on time on multi-asset

    3 July 2008

    Henderson's multi-manager team are not allowing the wave of enthusiasm over multi-asset to force their hand to use the full range of investments allowed under the non-Ucits retail scheme rules.

  • HNW investors refocus on films

    3 July 2008

    Films are attracting increasing investor interest in the economic downturn, says wealth management firm Route Group.

  • House purchase lending up 4 per cent while remortgaging falls

    8 July 2008

    Lending for house purchases has increased by 4 per cent to 52,700 in May but remortgaging has dropped by 14 per cent, according to new statistics from the Council of Mortgage Lenders.

  • Households now 15% worse off, says E&Y

    4 July 2008

    The average UK household is now 15 per cent worse off than it was five years ago, according to Ernst & Young’s Annual Discretionary Income Study.

  • HSBC Global Markets - Enhanced Commodity Trends Indicator Plan

    2 July 2008

    HSBC Global MarketsEnhanced Commodity Trends Indicator Plan

  • IFA issues caution on Kilminster's house

    3 July 2008

    An ex-Kilminster IFA is issuing a caution to the Land Registry regarding Kilminster founder Malcolm Kil-minster's house over fears that he may not return to the country.

  • IFAs attracted by innovative ETFs

    3 July 2008

    Marlborough Fund Managers expects IFA demand for its fund of exchange traded funds range to increase as ETFs become more sophisticated.

  • Industry takes hit to profitability

    3 July 2008

    Profitability in the UK financial services industry has declined at a record pace and business volumes have fallen at the fastest rate in 17 years, according to a PricewaterhouseCoopers survey.

  • Insurer helping borrowers protect against rate rises

    3 July 2008

    MarketGuard has designed an insurance product to protect borrowers from rising interest rates.

  • Integrity banks on Nordic region

    3 July 2008

    Investment boutique Integrity Asset Management believes that yields on equities in the financials sector are better value than convertibles.

  • Investors miss out on emerging growth

    3 July 2008

    UK investors are potentially missing out on growth because they have not allocated enough of their assets to emerging markets, says Fidelity International.

  • Investors put faith in the big offshore players

    3 July 2008

    Norwich Union Internat-ional head of marketing Nick Burton says a dash for quality has benefited the leading players in the offshore bond market.

  • John Charcol cuts 69 jobs and closes offices

    3 July 2008

    John Charcol has axed 69 of its 276-strong workforce and closed three UK offices as part of a restructure which has seen its directors pump further money into the firm.

  • Ken Davy

    3 July 2008

    The chairman of SimplyBiz has done a great deal to influence the shape of financial services over the past few decades, despite being a late entrant to the industry.

  • Landlord associations to merge

    8 July 2008

    The National Landlords Association and the National Federation of Residential Landlords have announced they will be merging.

  • Lasting relationship

    3 July 2008

    That meant, broadly, that gains made under UK and offshore investment life insurance contracts will be taxed as non-trading credits under the loan rela-tionship rules. The original position has changed in a number of important areas. Perhaps the most important is that before the changes, all life policies effected by a company before March 14, 1989 (and which had not been subsequently enhanced) were outside the chargeable events legislation and would, in effect, produce a tax-free return ...

  • Leadpoint expands leads service

    3 July 2008

    Leadpoint has launched a protection leads service, including personal life cover and mortgage protection, to add to its mortgage, loan, PMI and debt management offerings.

  • Lehman Brothers - Enhanced Fixed Returns Plan - Issue 5

    2 July 2008

  • Lenders becoming strict on interest-only applications

    8 July 2008

    Lenders are failing to approve interest-only mortgage applications, according to analysis from mform.co.uk

  • Lifesearch launch could see UK debut for Fortis

    3 July 2008

    Lifesearch is to launch a new income protection product in the coming weeks, raising speculation that it signals Fortis's long anticipated entry into the UK market.

  • Lighthouse says FSA being too shy on TCF demands

    3 July 2008

    The FSA is "too shy" of giving advisers clear instructions on what it wants to see them doing, say Lighthouse chiefs Malcolm Streatfield and Allan Rosengren.

  • Living Time appoints former Prudential marketing director

    7 July 2008

    Living Time has appointed former Prudential marketing director of intermediated businesses Steve Lowe as marketing director.

  • 'Loan brokers in RDR denial'

    3 July 2008

    Mortgage brokers are in denial about the retail distribution review and its likely extension to the sector, according to Tenet group distribution and development director Keith Richards.

  • Loanmakers to review business immediately

    8 July 2008

    Loanmakers has said it will be undertaking an immediate review of the business to see how it can alleviate the impact of today's announcement by Barclays that it will be ceasing accepting new business through First Plus.

  • Looking good

    3 July 2008

    In another life, this column could have been called My Disastrous Insurance Company Admin Hell or My Ugly Bank Relationship but it is called My Beautiful Wrap and with good reason.

  • Lord Turner to scrutinise effectiveness of TCF

    2 July 2008

    The new chairman of the Financial Services Authority Adair Turner has pledged to scrutinise how effective the Treating Customers Fairly initiative has been.

  • LV= throws mortgage and lifestyle in protection mix

    3 July 2008

    LV=Mortgage & Lifestyle Protection

  • Major banks set up diploma training deals for their IFAs

    3 July 2008

    Leading UK banks have signed deals to train their advisers and sales staff to diploma or chartered status as they look to reposition themselves as part of the RDR.

  • Money Guidance pathfinder scheme to launch in the North

    7 July 2008

    The Government has unveiled the £12m roll out of the Money Guidance pathfinder programme in the North of England as part of its Financial Capability Action Plan.

  • Moneysupermarket faces £7m hit as Barclays pulls second charge loans

    8 July 2008

    Moneysupermarket.com has warned that the decision by Barclays to cease new second charge business will hit its own sales by around £7m.

  • Mortgage approvals down by 28%

    3 July 2008

    Mortgage approvals fell by 28 per cent in May, according to the Bank of England. Only 42,000 approvals were recorded, down by 64 per cent from 12 months ago. It is the lowest figure since the Bank began reporting the data in 1993.

  • Mortgage broker fined £129,000 and banned for fraud

    7 July 2008

    A mortgage broker has been banned and fined £129,000 by the FSA for submitting numerous fraudulent mortgage applications.

  • Mortgage Next - Kensington Mortgages Two-Year Tracker

    3 July 2008

    Mortgage NextKensington Mortgages Two-Year Tracker

  • Mortgage Next - Three Year Fixed Rate

    3 July 2008

    Mortgage NextThree Year Fixed Rate

  • Multi-ties leave us guessing on their next RDR moves

    3 July 2008

    We may be in the midst of a phoney war as far as regulation is concerned.

  • Nationwide cuts fixed rate and tracker deals

    4 July 2008

    Nationwide Building Society is cutting the price of some of its fixed rate and tracker mortgage deals by up to 0.27 per cent.

  • Nationwide launches 48-strong broker sales force

    3 July 2008

    Nationwide has launched a 48-strong broker sales force in a bid to show its commitment to the intermediary market.

  • NatWest is accused of reneging on BTL loans

    3 July 2008

  • New charges on James Hay private client Sipp

    3 July 2008

    James Hay is introducing new charges on its private client Sipp for clients holding assets outside the fund range available on its fund supermarket.

  • New Star appoints head of alternatives

    2 July 2008

    New Star has announced the appointment of Donald Pepper as head of alternative investment.

  • NFU Mutual appoints new non-executive director

    8 July 2008

    NFU Mutual, the rural insurer has hired Beverley Hodson as a non-executive director.

  • Non-doms flee UK for better benefits

    3 July 2008

    Wealthy non-doms are fleeing the country for better tax benefits, says a leading worldwide tax planner.

  • Northern Rock appoints chief risk officer

    7 July 2008

    Northern Rock has appointed Rick Hunkin as its new chief risk officer with effect from September 1.

  • Northern Rock launches new mortgage range

    7 July 2008

    Northern Rock has launched a new mortgage range in a bid to retain its presence in the UK mortgage market.

  • Not what the doctor ordered

    3 July 2008

    May's mortgage approvals figures from the Bank of England were absolutely dire. The figures from the BBA the previous week were bad enough, a 20 per cent fall on the previous month and a 56 per cent fall on May last year, but the figures for total mortgage lending, including the building societies and specialist lenders, are even worse, with a 28 per cent fall on April and a 64 per cent fall on May last year.

  • Novia poaches Selestia sales manager

    7 July 2008

    Novia has poached Selestia national sales manager Paul Boston to be its director of sales.

  • NU Healthcare launches income protection product

    7 July 2008

    Norwich Union Healthcare has unveiled its plans to launch an individual income protection product for the intermediary sales channel.

  • NU top in Alexander Forbes' table of annuity rates

    8 July 2008

    Norwich Union has come top for level annuities in Alexander Forbes Annuity Bureau’s table of the most competitive rates.

  • Occupational pension scheme membership plunges by 1 million

    3 July 2008

    Occupational pension scheme membership has plunged by one million, according to data published by the Office for National Statistics.

  • Omnis Investments launches trio of multi-manager funds

    7 July 2008

    Omnis Investments has opened for business with the launch of three multi-manager funds.

  • Omo whitewash

    4 July 2008

  • Online PPI sellers flouting FSA rules, says British Insurance

    8 July 2008

    Many online sellers of payment protection insurance have failed to comply with the FSA’s new eligibility requirements by the 6 July deadline, according to British Insurance.

  • Optimiser options

    3 July 2008

    Every investor aiming for growth in the longer term should have an exposure to emerging markets because many of these economies are growing at a faster rate than those of the developed world.

  • Paul Bradshaw joins Sanlam UK board

    3 July 2008

    Sanlam UK has announced the appointment of Paul Bradshaw to its board as non-executive director.

  • Pensioners hit by 36 per cent inflation in past decade

    7 July 2008

    Pensioners have seen inflation of 36 per cent over the past ten years which is faster thatn the increase in retail price inflation.

  • Personal Touch Packaging to recruit seven BDMs

    7 July 2008

    Personal Touch Packaging is recruiting seven new business development managers over the next six months.

  • Personal trait

    3 July 2008

    The wheels of legislation grind slowly on the Pensions Bill. This proposed legislation - setting out employer pension responsibilities - has reached the committee stage in the House of Lords.

  • Point of no returns

    3 July 2008

    An advantage of working from home is that no one is looking at you as you work away, an advantage when you end up spilling a bowl of muesli all over your keyboard and trousers as I did when I read that Prudential would not be returning any of its £8.7bn inherited estate to policyholders and shareholders.

  • Polar posts FY pre tax growth amid tough market conditions

    4 July 2008

    Polar Capital has posted a 42.2 per cent rise in full year pre-tax profits to £14.5 million from £10.2 million despite reporting a challenging period on the investment markets.

  • Positive response

    3 July 2008

    I remember real problems such as fuel prices increasing by 300 per cent overnight in the early Seventies, the three-day week, the Winter of Discontent, the very real and more serious terrorist threat of the IRA, negative equity, house price falls of 40 per cent, etc, etc. By comparison, today's "problems" are very minor.

  • Positive Solutions opens Plymouth office

    3 July 2008

    Positive Solutions is opening a new office in Plymouth as part of its expansion drive in the South West.

  • Positive Solutions to pay advisers' Diploma costs

    4 July 2008

    Positive Solutions has pledged to foot the bill for its advisers to reach the Chartered Insurance Institute’s Diploma level.

  • Prestbury Aim trading on hold

    3 July 2008

    Prestbury has suspended trading on Aim as it was unable to publish its results by the deadline imposed by the exchange.

  • Proc fees may be replaced by fees for advice, says IMLA

    2 July 2008

    Intermediary remuneration may become more based on fees for advice than procuration fees in the future, the Intermediary Mortgage Lenders Association has said.

  • Property recovery after 2009

    3 July 2008

    UK real estate faces short-term volatility but should bottom out in the next 12 to 18 months, says Franklin Templeton.

  • Protected rights move could spark acquisitions

    3 July 2008

    Rule changes allowing protected rights' cash to be invested in Sipps may push insurers on to the acquisition trail, says Hargreaves Lansdown.

  • Questions over NU estate as Pru keeps orphan cash

    3 July 2008

    Prudential's decision not to carry out a reattribution of its £8.7bn with-profits fund surplus could make it easier for Norwich Union to follow suit, say advisers.

  • RBS Intermediary Partners - First Active Five Year Fixed Remortgage

    4 July 2008

    RBS Intermediary PartnersFirst Active Five Year Fixed Remortgage

  • RBS Intermediary Partners - First Active Two Year Fixed Remortgage

    4 July 2008

    RBS Intermediary PartnersFirst Active Two Year Fixed Remortgage

  • RBS offers popular fix

    4 July 2008

    RBS Intermediary PartnersRBS Five-Year Fixed

  • 'RDR will drive consolidation'

    3 July 2008

    Consolidation is set to accelerate in the intermediary sector this year as the retail distribution review shakes out the weaker performers, predicts Cavanagh group director Simon Redgrove.

  • Relief map

    3 July 2008

    A little while back, I wrote about the new entrepreneurs' relief for capital gains tax. Most people will by now be aware that entrepreneurs' relief is the replacement for business assets taper relief.

  • Retirement costs over £400,000 per household, says Life Trust

    3 July 2008

    The cost of retirement is £413,000 for a typical household and £326,700 for an individual, according to research from Life Trust.

  • Riotous assembly

    3 July 2008

    What value does a life insur-ance company bring? This is a question I find myself being asked increasingly by advisers, especially those that are moving their business model towards wrap.

  • Russian resolution

    3 July 2008

    At times like this, we believe investors need to stand back from the market noise and focus on the long-term growth prospects of the regions in which they invest and, on this basis, Russia scores exceptionally highly.

  • Savers feeling the crunch

    3 July 2008

    Scottish Widows says a cloud of pessimism is hanging over savers after a survey found that many believe they cannot afford to increase the amount of money they put aside.

  • Schroders adds Middle East analyst

    3 July 2008

    Schroders has appointed Maha Soueissy as Middle East equity analyst. Soueissy joins from SHUAA Capital and will be based in the Dubai office.

  • Schroders launches new agricultural land fund

    7 July 2008

    Schroders has launched a new agricultural land fund which will open for investment in September.

  • SHIP says BoE statistics have been misread

    7 July 2008

    Equity release trade body Safe Home Income Plans has issued a statement in order to clarify statistics published by the Bank of England last week.

  • Skandia International launches new offshore protected fund

    2 July 2008

    Skandia International has launched a new protected portfolio investment fund.

  • Skandia scraps Selestia brand

    3 July 2008

    Skandia is to axe the Selestia brand and develop the platform into a full wealth management wrap under the banner Skandia Investment Solutions.

  • SLI Sicav range offered via Frankfurter Fondsbank

    3 July 2008

    Sub-funds in Standard Life Investments Luxembourg-domiciled Sicav fund range are now available through Frankfurter Fondsbank’s broker platform.

  • Steer hunter

    3 July 2008

    We all make mistakes in fund selection. One of my worst was putting Tim Steer's New Star UK Alpha fund on hold a few years ago.

  • Structured argument

    3 July 2008

    The Association of Mortgage Intermediaries has warned mortgage brokers who decide to sell structured investment products that there are a number of potential risks that must be avoided.

  • Tax and figures

    3 July 2008

    Offshore insurance bonds offer a number of potential tax advantages. These include the fact that capital growth within offshore bonds is virtually free of tax, policyholders can switch between funds within bonds without triggering a capital gains tax liability, bonds can be assigned to lower-rate taxpayers and the policyholder can decide when to cash them in and thus when they face their tax liability.

  • Taylor Wimpey shares dive after no capital injection

    2 July 2008

    Taylor Wimpey has seen its shares halve in value after it announced today that it had been unable to secure its planned capital injection due to current market conditions.

  • TCF takes your breath away

    3 July 2008

    Treating customers fairly are three little words that may leave some advisers perfectly relaxed while others grind their teeth.

  • The B&B saga continues

    4 July 2008

    The last two weeks has seen the saga of Bradford & Bingley reach new heights. News emerged today that US investment group Texas Pacific Group has withdrawn its £179m cash injection for the firm after learning that ratings agency Moody’s is to downgrade the bank once again.

  • The CII launches podcasts on TCF

    4 July 2008

    The CII has launched a series of podcasts on treating customers fairly aiming to offer a simple guide to the regulation for advisers and insurers.

  • The history men

    3 July 2008

    Conferences seem to be playing an increasingly important role in my life. Perhaps it is the pervasive uncertainty that is persuading fund groups to maintain a highly visible presence in the IFA market. The good news, from my perspective, is that fund managers appear just as confused as me. Even more important is the degree of disagreement that exists over likely outcomes. It reinforces my view that this market is as hard to second guess as it has ever been. Inflation, the credit crunch ...

  • The Money Portal's chief finance officer resigns

    7 July 2008

    The Money Portal’s chief finance officer Peter Coleman has resigned with immediate effect to spend more time with his family.

  • The Pensions Regulator restructures management team

    3 July 2008

    The Pensions Regulator has announced that head of corporate risk management Martine Trouard-Riolle will be leaving the organisation after three years at the firm.

  • The RDR debate

    3 July 2008

    The FSA's original retail distribution review discussion paper was a step in the right direction. The FSA focused, rightly, on adviser remuneration and raising professional standards.

  • The RDR debate

    3 July 2008

    After a confusing start a year ago, the RDR now appears to be moving in a very positive direction which sho-uld prove of benefit to consumers. Indeed, if consumers understood the argu-ments, they would be writing to the FSA in droves urging them to hold their nerve in the current "advice versus sales" debate.

  • The sun also rises

    3 July 2008

    Every time a New Year tipster suggests Japan as their favourite market for recovery, it is with the accompanying rationale: "Because it has been so bad for so long, surely this year is its turn?"

  • Thinc gets to the core with Tactica deal

    3 July 2008

    Thinc Group has announced a deal with multi-asset man-ager Tactica to offer its advisers a range of three actively managed funds.

  • Trawl order

    3 July 2008

    With inflation at a 10year high, pundits are wondering where people should invest so we can outpace inflation over the longer term.

  • Treasury appeal in tribunal clash

    3 July 2008

    The Treasury is appealing to the High Court over the Information Tribunal's decision to force it to disclose if it sought legal opinion on whether the Financial Services and Markets Bill complied with human rights law.

  • Turner's challenge

    3 July 2008

    As Adair Turner takes over as chairman of the FSA, is he fully aware of the extent of the role he has taken on? Most of the outstanding jobs are only halfway through and a great deal more needs to be done, otherwise the FSA's effectiveness will diminish.

  • UBS to break even in Q2 results

    4 July 2008

    UBS says it has no need to raise new equity as it stated today that its results for the second quarter ending June 30 will be at or slightly below break even.

  • UK hits bear market says F&C fund manager

    8 July 2008

    The UK is officially in a bear market according to F&C UK growth & income fund manager Ted Scott.

  • UK P&I Club seeks to raise £50m through hybrid capital

    7 July 2008

    UK Protection and Indemnity Club has unveiled its plans to launch its first hybrid capital calling of £50m.

  • UK tax system is stifling onshore business, says IMA

    3 July 2008

    Investment Management Association chief executive Richard Saunders is urging the Treasury to introduce more tax reforms to allow UK funds to compete on a level playing field with their European counterparts.

  • Valuable lessons

    3 July 2008

    Speaking at the Investment Management Association's annual dinner last month, IMA Chairman Robert Jenkins told the investment management industry and its guests that even though the credit crunch was not | yet over, it was not too soon for all those caught up in it to learn a few lessons.

  • Value added

    3 July 2008

    Within the June 2007 RDR vision, we were exhorted to learn from the past. I therefore find it instructive to recall what did go on in the 1980s.

  • 'VCTs lower targets to pull in fees'

    3 July 2008

    Hargreaves Lansdown investment manager Ben Yearsley claims a number of venture capital trusts are reducing the levels at which performance fees kick in to make them more achievable.

  • Williams is joining Cofunds as chief exec

    3 July 2008

    Skandia's Brett Williams is to join Cofunds as chief executive by the end of the year.

  • Woolwich warns on fast-track abuse

    3 July 2008

    Woolwich is warning that it will take action against mortgage intermediaries who abuse its fast-track process. The lender says it will not hesitate to provide details to the FSA for investigation where necessary.

  • Worrying estate of affairs

    3 July 2008

    The Treasury select committee's report into inherited estates has varying potential repercussions for the market, according to IFAs.

  • Zopa gains over 200,000 members

    7 July 2008

    Online lending exchange Zopa now has over 200,000 members and has achieved £23m in lending over the last three years.

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