Money Marketing
24 June 2009

Manager focus: Stephan Mller

29 Jun 2009
15% Of prime loans in negative equity

25 Jun 2009

Fifteen per cent of prime UK mortgages by value are in negative equity, according to Fitch Ratings. It expects this figure to increase to 34 per cent of all prime mortgages if house prices fall in line with its expectations of a 30 per cent decline peak to trough.
1st - The Exchange announces integration between Adviser Office and FundsLibrary

24 Jun 2009

1st - The Exchange has announced the integration of its Adviser Office and online fund data platform FundsLibrary.
Abbey For Intermediaries - Two Year Tracker

25 Jun 2009

Abbey For IntermediariesTwo Year Tracker
Abbey introduce ‘one strike’ mortgage application policy

24 Jun 2009

Abbey has tightened up its mortgage application process whereby advisers’ applications will now be rejected on the first declination.
Acute fund from Acuity Capital

26 Jun 2009

Acuity CapitalCF Acuity Real Active Management Fund
Adviser Fund Index

25 Jun 2009

The surge of retail money which began flowing into corporate bonds towards the end of 2008 shows little sign of going into reverse.
Aegon five for life replacement revealed

24 Jun 2009

Aegon’s new secure lifetime income product, which launches next week, has reduced the income guarantee by 1.5 per cent for some customers, compared to the firm's previous five for life plan.
Aegon launches UK equity income fund

25 Jun 2009

Aegon Asset Management is launching a UK equity income fund on June 30.
Age rating

25 Jun 2009

Can I please correct a potentially misleading statement attributed to Friends Provident at the end of the article "Clarity begins at home"?
Aifa calls for review of decumulation market

29 Jun 2009

The Association of Independent Financial Advisers is calling for an independent review of the decumulation retirement market in order to increase consumer understanding.
AIG to repay £15bn to Fed by flotation of Alico and AIA

25 Jun 2009

American International Group is to float its two life insurance units, Alico and AIA, on the Asian stock exchange in order to repay £15bn in debt owed to the Federal Bank of New York.
An absolute mess?

29 Jun 2009

Advisers are calling for a clean-up of the absolute return sector as funds continue to trail behind their benchmarks.
Aon analysis shows tough task for pension savers

25 Jun 2009

Nine months of sustained market gains are needed to restore pension assets to 2007 levels, according to Aon Consulting.
Arc Capital & Income - Emerging Markets Plan

26 Jun 2009

Arc Capital & IncomeEmerging Markets Plan
ASA raps claim-chaser over SMS marketing campaign

25 Jun 2009

The Advertising Standards Authority has upheld the second complaint against a claim-chasing firm within a week, following last week's ruling against a separate company.
Aviva orphan cash blackout angers advocate

25 Jun 2009

Aviva policyholder advocate Clare Spottiswoode has hit out at Aviva for forcing her to blank out key figures in her report on the reattribution of its inherited estate.
Aviva research highlights post retirement fears

24 Jun 2009

Research from Aviva has found that six in 10 people over the age of 50 worry that their pensions and savings are not enough to support them after retirement.
Baillie Gifford - Greater China Fund

25 Jun 2009

Baillie GiffordGreater China Fund
Bank plan blasted

25 Jun 2009

FSA chairman Lord Turner has warned against calls for a banking system based on smaller banks, saying it would still have systemic problems.
Bankers warn of impact

25 Jun 2009

The British Bankers' Association has questioned if the FSA's response to the banking crisis will strike the right balance between financial stability and allowing banks to support the economy.
Banks move FTSE higher

29 Jun 2009

The FTSE opened at 4,239 this morning with banks stronger in early trades.
Barclays Wealth generates growth from unfamiliar source

26 Jun 2009

Barclays WealthLight Energy Commodity Plan
Barclays Wealth sees shift away from FTSE linked structured products

24 Jun 2009

Barclays Wealth is seeing increased investor appetite for structured products linked to indices other than the FTSE 100.
Bates' claims could fall on the FSCS

24 Jun 2009
Bates' claims could fall on the FSCS

25 Jun 2009

Future misselling claims against Bates Investment Services may fall upon the Financial Services Compensation Scheme after the firm went into administration as part of the Money Portal management buyout.
BBA Conference: Bank aid may need a decade, says Lib Dems

30 Jun 2009

Liberal Democrat shadow chancellor Vince Cable has warned that bank aid may have to continue for 10 years if taxpayers are to receive maximum rewards.
BBA Conference: BBA warns of over-regulation

30 Jun 2009

The British Bankers Association has warned that an over-regulation of the UK banking sector may hit consumers.
BBA Conference: BoE calls for 100% cover for deposits

30 Jun 2009

The Bank of England has called for the creation of an insurance fund that would cover 100 per cent of any retail deposits.
BBA Conference: EU may force Lloyds RBS break-up

30 Jun 2009

Semi-nationalised banks RBS and Lloyds Banking Group may have to be broken up due to unfair competition advantages, says the EU competition commission.
BBA Conference: Tories hint at returning BoE pre-’97 powers

30 Jun 2009

The Tories have hinted that they may grant the Bank of England more powers with regard to micro-economic regulation if they were to get into power.
BBA Conference: TSR aided the crunch, says Myners

30 Jun 2009

City minister Lord Myners has hit out at the market’s total shareholder revenue focus as a reason for the credit crunch.
BBA Conference: Turner dismisses "FSA/Bank/Treasury soap opera"

30 Jun 2009

Lord Turner has called for a debate around the reassessment of the tripartite authorities’ responsibilities and dismissed reports of a rift between himself and Bank of England governor Mervyn King.
Bennett to run flagship Gartmore fund

25 Jun 2009

Gartmore has unveiled plans to pass on the management of Roger Guy's flagship 1.5bn European select opportunities fund to John Bennett who has been appointed senior portfolio manager European equities.
Big issue splits Chancellor and the governor

25 Jun 2009

Chancellor Alistair Darling and Bank of England governor Mervyn King have clashed again on the issue of whether big banks should be split up.
BoE economist calls for quantitative easing exit strategy

24 Jun 2009

Bank of England chief economist Spencer Dale has called for the Monetary Policy Committee to begin planning a quantitative easing exit strategy.
Bond sales to slow in switch to equities

25 Jun 2009

Fidelity International is predicting a slowdown in corporate bond sales towards the latter part of this year.
Cann slams 'rubbish' FS degrees that fail to meet career needs

25 Jun 2009

Institute of Financial Planning chief executive Nick Cann has hit out at the structure of financial services degrees and says many do not offer students what they need to fulfil future financial planning roles.
Case of the missing rights

25 Jun 2009

David Buskell's letter (Money Marketing, June 11) was right on the button - there are no human rights for IFAs when it comes to Financial Ombudsman Services case fees.
Cazenove adding to absolute fund range

25 Jun 2009

Cazenove is planning to build on its UK absolute target fund with the launch of an absolute UK dynamic fund.
Chancellor may increase FSA's role in financial stability

26 Jun 2009

Chancellor Alistair Darling is reportedly planning to strengthen the role of the FSA on financial stability which he has set out in a banking white paper due out shortly.
Changing ideas

25 Jun 2009

Skandia global best ideas celebrated its three-year anniversary earlier this month, having marginally outperformed the sector average.
CII tightens guidelines for corporate chartered status

29 Jun 2009

The Chartered Insurance Institute has unveiled tighter guidelines for its corporate financial planners scheme.
CML sees more positive outlook for net lending and repo figures

25 Jun 2009

The Council of Mortgage Lenders has reduced its forecast for repossessions this year by 13 per cent from 75,000 to 65,000.
Copper canyon

25 Jun 2009

What is China up to? Earlier this year, they were bidding up for raw materials. Now it seems they have switched off buying orders and have even turned sellers in some cases - like copper. China is by far the biggest importer and consumer of copper, so rumours the state reserve board is prepared to sell up to 250,000 tonnes of the metal to bring the price back should not be ignored. But it does not mean the rally in commodity prices is over.
Corporate bonds continue to top sales, IMA stats

29 Jun 2009

The corporate bond sector has continued to be the most popular UK domiciled net retail sector, according to the latest figures from the Investment Management Association.
Costs of adviser charging "grossly underestimated", says Ernst & Young

26 Jun 2009

Ernst & Young claims the FSA has "grossly underestimated" the costs to the industry of shifting to an adviser charging model in its Retail Distribution Review consultation paper, published yesterday.
Cowley takes on OMAM strategic bond funds

24 Jun 2009

Old Mutual Asset Managers head of fixed interest Stewart Cowley has taken over as manager of the group’s global strategic bond and dynamic bond funds.
Derivatives to face tougher regulation

29 Jun 2009

Derivatives are expected to face tougher regulation under new plans expected from the Treasury this week, according to reports.
Deutsche Bank launches ETF-invested funds

24 Jun 2009
Don't bash the brokers

25 Jun 2009

I have despaired over recent weeks as the Council of Mortgage Lenders, the FSA, then the Intermediary Mortgage Lenders Association and the National Housing Federation all put the boot into the mortgage intermediary market.
Ecclesiastical screens

25 Jun 2009

Rob Hepworth has plenty to be positive about. A senior fund manager at ethical investment house Ecclesiastical Investment Management, he has been one of the few fund managers to have benefited from the economic storm that has wrought havoc through the industry and wider economy over the last two years.
Editor’s view: FSA puts RDR on the right track

26 Jun 2009

Yesterday’s RDR consultation paper has much to commend it and the review now has the potential to be a positive force for IFAs and consumers.
Employers pocket £4.5bn saving by closing final salary schemes

30 Jun 2009

Employers are saving up to £4.53bn a year in pension contributions as millions of employees are withdrawn from final salary pension schemes, according to MGM Advantage.
Equity release advisers launch alliance

26 Jun 2009

Eighteen equity release advisers have come together to create the Independent Equity Release Adviser Alliance.
Equity release could be key for LTC

25 Jun 2009

Safe Homes Income Plans has predicted that the impending crisis in elderly care funding will force equity release into the mainstream.
Ex-policemen are jailed for 6m 'high-yield' Ponzi con

25 Jun 2009

Two former policemen are among fraudsters sentenced to jail for a 6.1m Ponzi scam after a Serious Fraud Office and Cheshire Police investigation.
Fear of unknown unknowns over absolute return

25 Jun 2009

Brewin Dolphin divisional director Stephen Ford has raised concerns about the ability of absolute return funds to meet client expectations.
Financial soap opera

26 Jun 2009

This week Bank of England governor Mervyn King stoked the increasingly public spat with the Treasury after agreeing that the communication channels between the Tripartite are a mess.
Fitch hits UK building societies with further downgrades

25 Jun 2009

Fitch has downgraded several more building societies’ debt ratings as well as some of their individual ratings.
Forestall rules will hit transfers with 20% tax

25 Jun 2009

High-earning pension savers will lose their contribution history and could be hit with a 20 per cent tax charge if they transfer to another pension provider over the next two years.
Four firms face FSA action over mishandling arrears

25 Jun 2009

The regulator has referred four firms to enforcement for mishandling mortgage arrears.
FSA annual report: Sants declines bonus - fines rocket 520%

24 Jun 2009

The FSA's annual report has revealed that chief executive Hector Sants has declined a £130,000 bonus and that financial penalties have skyrocketed 520 per cent from £4m to £27m over the past financial year.
FSA bans Chase UK director

26 Jun 2009

The FSA has banned the compliance director of former mortgage packager Chase UK for failing to adequately supervise the firm, leaving it open to fraudulent applications.
FSA faces protection backlash

30 Jun 2009
FSA in talks with Serious Fraud Office over Keydata

30 Jun 2009

The FSA is in talks with other regulators including the Serious Fraud Office regarding £103m in missing assets and a number of tax irregularities in some of Keydata’s products.
FSA needs to treat its own customers fairly

25 Jun 2009

The Financial Services Authority needs to treat those it regulates fairly and equally if it is to gain and retain the trust and co-operation of regulated firms. It needs that trust and co-operation for it to do its job effectively. But in at least two important areas, the FSA has acted or is proposing to act unfairly to IFAs - namely in relation to the no long-stop rule and the new professional qualifications for IFAs.
FSA widens its Omo probe to cover Sipps

25 Jun 2009

The FSA has extended its review of the open market option from personal and stakeholder pensions to Sipps.
FSA will retain responsibility for financial regulation

29 Jun 2009

Business secretary Lord Mandelson is today expected to confirm that financial regulation will remain with the FSA rather than transferring to the Bank of England.
FSA's definition of 'independence' could hamper high-end IFAs, warns firm

29 Jun 2009

The FSA’s new definition of independence could pose problems for investment-led IFAs due to their investment process, warns independent wealth consultancy No Monkey Business.
FTSE cautious at open

24 Jun 2009

The FTSE opened higher at 4,238 today but lacked conviction from investors ahead of this afternoon's meeting with members of the UK monetary policy committee who are due to testify on the inflation report.
Fund companies get choice on offering interim Isa rise

25 Jun 2009

The Investment Management Association has won its appeal for Isa managers to have the choice of whether or not to offer the £3,000 increase in allowance for the over-50s.
Gartmore appoints ex-F&C manager Newman to UK team

25 Jun 2009

Gartmore has appointed Luke Newman as portfolio manager to its UK team.
Global bank losses amount to $25 trillion

26 Jun 2009
Global fund role

25 Jun 2009

Liontrust Asset Management has appointed GAM investment director Ross Hollyman as global equity fund manager.
Global warning

25 Jun 2009

From the lead-up to and aftermath of the recent G20 meetings, it is clear the developed world is seeking to ensure as many International Financial Centres as possible sign up to a broad range of commitments, largely embodied in the OECD standards on transparency and the exchange and provision of tax information.
Godiva goes for competitive price

26 Jun 2009

Godiva MortgagesBuy-To-Let 5.4% Five Year Fixed
Government seeks to build £1bn venture capital fund

29 Jun 2009

The Government is to create a UK innovation investment fund to invest in technology-based businesses with high growth potential.
Govt Mortgage Rescue Scheme has helped just six households

30 Jun 2009

The number of struggling homeowners helped by the Government’s Mortgage Rescue Scheme was only six from January to May this year, figures revealed today.
Gravis looks to PFI

26 Jun 2009

Specialist UK infrastructure advisers Gravis Capital Partners has established a fund for experienced and high-net-worth investors that invests in the Government’s private finance initiative projects such as hospitals and schools.
Green shoots

25 Jun 2009

Much of the recent press coverage marking ethical investing focuses on the 25th anniversary of the launch of the F&C Stewardship growth fund.
Hargreaves questions future use of 'independent' tag

29 Jun 2009

Hargreaves Lansdown says it will have to consider whether to maintain its independent tag as a result of the FSA's retail distribution review draft proposals.
High society pensions

25 Jun 2009

Having just received a voting package from Nationwide, and considering the current talk about MPs' final-salary pensions, I thought I should ask Nationwide what type of pension scheme they have, particularly for the chief executive Graham Beale.
HMRC to investigate bank tax avoidance

29 Jun 2009

HM Revenue & Customs has launched a consultation paper into a code of practice on tax for banks.
Home straight

25 Jun 2009

Is it up, up and away for the housing market at last? It may be a tad early to get carried away right now but there are certainly reasons to be cheerful. House prices rose 2.6 per cent in May, according to the Halifax, and there is mounting evidence of improving sentiment on the economy and an increasing expectation that growth will return at some point this year.
HomeBuy scheme falters as MyChoice cash runs out

25 Jun 2009

Government figures reveal the number of homes purchased under HomeBuy initiatives fell by more than 1,150 per cent between March and April this year as funding for the MyChoice HomeBuy scheme dries up.
HSBC cuts tracker charges

29 Jun 2009
HSBC mulls Fohf launch

25 Jun 2009

HSBC Global Asset Management is looking at launching a retail fund of hedge funds.
Income every six months from Blue Sky

26 Jun 2009

Blue Sky Asset Management has brought out a structured product that provides income of 4.5 per cent every six months during a five year term, depending on the performance of the FSTE 100 index.
Infocomp's parent firm suspends shares ahead of £7.3m rights issue

24 Jun 2009

GBST, the parent company of platform technology provider Infocomp, has suspended trading of its shares on the Australian stock exchange ahead of a planned £7.3m rights issue.
Infocomp's parent raises £2.1m in new capital

30 Jun 2009

GBST, the parent company of platform technology provider Infocomp, has successfully raised £2.1m in new capital.
IntelliFlo launches web-based mortgage sourcing system

26 Jun 2009

IntelliFlo has released its new integrated web-based mortgage sourcing system within its front, middle and back office solution, Intelligent Office.
Investec appoints co-head of fixed income

24 Jun 2009

Investec Asset Management has hired a credit hedge fund manager to co-head its fixed income team and run a global long/short fund for the group.
IoM moves to automatic exchange of information

25 Jun 2009

The Isle of Man is moving to automatic exchange of information to align itself with EU rules on bank account secrecy by 2011.
Jubilee Financial Products - Fixed Returns Plan Issue Three

26 Jun 2009

Jubilee Financial ProductsFixed Returns Plan Issue Three
Jubilee Financial Products - Monthly Income Plan Issue One

26 Jun 2009

Jubilee Financial ProductsMonthly Income Plan Issue One
Jubilee Financial Products - Monthly Income Plan Issue One

26 Jun 2009

Jubilee Financial ProductsMonthly Income Plan Issue One
Just Retirement confirms buyer interest

26 Jun 2009

Just Retirement has confirmed that it is in talks with a bidder interested in taking a majority stake in the company which would value the firm at £226m.
Keydata "innocent victims", say directors

30 Jun 2009

Keydata says it is an "innocent victim" after administrator PwC said that over £100m of assets from some of the plans appear to be missing.
King calls for new UK banks

24 Jun 2009

Bank of England governor Mervyn King has called for the creation of new, small banks to aid the funding of small businesses and individual borrowers.
King tells banks to set out their last will

25 Jun 2009

Bank of England governor Mervyn King has called for banks to write their own "wills" to allow the authorities to implement an orderly wind down of business in the event of a future collapse.
L&C finalises Qrops move

25 Jun 2009

London & Colonial is working on the launch of Qrops in Gibraltar and Ireland.
L&G offers pension tax alternative

25 Jun 2009

Scrapping Budget proposals on higher-rate pension tax relief in favour of limiting the annual contribution allowance to £50,000 would generate the same amount of revenue, says Legal & General.
L&G to cut 200 extra jobs

24 Jun 2009

Insurer Legal & General is in talks with unions to make 200 further job cuts within its UK risk division.
Lakey takes over as 'the face of the IFADU'

25 Jun 2009

Highclere Financial Services partner Alan Lakey has taken over as chairman of the IFA Defence Union from founder and former chairman Evan Owen.
Life planners urged to seek scale and serve middle market

25 Jun 2009

Kinder Institute of Financial Planning founder George Kinder has warned that the integrity of life planning firms will be questioned unless a model is devised to service middle-income clients.
Lloyds announces exchange offer for Cleri Med debt

30 Jun 2009

Lloyds Banking Group has announced an invitation to exchange three of Clerical Medical's subordinated tier two bonds for new Lloyds TSB Bank senior bonds.
Lloyds announces further job cuts

30 Jun 2009

Lloyds Banking Group has announced it is to cut a further 2,100 jobs over the next three years.
Lloyds cuts 240 offshore jobs

25 Jun 2009

Lloyds Banking Group is cutting 240 offshore finance jobs across Jersey, the Isle of Man and Guernsey by the end of 2011.
Long-stop saga is short on sense

25 Jun 2009
Losses from credit crunch down to £10 trillion

26 Jun 2009

The Bank of England has revealed that total worldwide losses from the financial crisis have been reduced by a third to £10 trillion.
LV= appoints Dan Ford as product manager

26 Jun 2009

LV= Asset Management has announced the appointment of Dan Ford as product manager.
Madoff sentenced to 150 years

29 Jun 2009

Bernard Madoff has been sentenced to a maximum of 150 years in prison after for committing a £40bn fraud.
Make a difference

25 Jun 2009

Imagine a man in his late 20s, married, with three children. He works hard to support his family, keeping a roof over their heads, food in their bellies, clothes on their backs while maintaining some standard of living. He is a salesman in a travel firm, with a basic salary of £12,000 but with commission he can earn around £24,000.
Man Group hires two non-exec directors

29 Jun 2009

Hedge fund manager Man Group has appointed Ruud Hendriks and Frédéric Jolly as non-executive directors, effective from August 1.
Manager focus: Bradley George

25 Jun 2009
Manager focus: Sonja Schemmann

24 Jun 2009
Meteor Asset Management - Prima Growth Plan 16

26 Jun 2009

Meteor Asset ManagementPrima Growth Plan 16
MFS explores global energy

26 Jun 2009

The MFS International global energy fund invests in equities of energy companies across the market cap spectrum.
MFS International UK - MFS Meridian Global Energy Fund

25 Jun 2009

MFS International UKMFS Meridian Global Energy Fund
Midas completes debt restructure

30 Jun 2009

Midas Capital has announced the completion of the restructuring of its debt.
Mills starts action on Coutts case

25 Jun 2009

Business tycoon Sir Keith Mills has initiated legal action against Coutts & Co over advice that led him to invest £65m of his savings in AIG Life premier bonds.
Ministers forced into U-turn over MPs' pensions

25 Jun 2009

Ministers last night were forced to backtrack on plans to raise taxpayers' contributions to MPs' pensions following pressure from the Liberal Democrats.
Money Marketing launches twitter site

30 Jun 2009

Money Marketing has launched a twitter site to enhance our online offering.
Money Portal's debts were £55m

24 Jun 2009

Honister Capital has confirmed that Money Portal’s debts were in the region of £55m when it entered administration.
Moody’s could downgrade 27 sub-prime RMBS

26 Jun 2009

Moody’s ratings agency has revealed that it has put 27 sub-prime residential mortgage backed securities on possible downgrade review.
Moonraker avoids the herd

26 Jun 2009

Fund of hedge funds manager Moonraker Fund Management says it looks at different ways to play investment themes rather than following the herd of institutional investors.
Morgan Stanley - FTSE Defensive Gilt-Backed Growth Plan 3

26 Jun 2009

Morgan StanleyFTSE Defensive Gilt-Backed Growth Plan 3
Mortgage approvals up in May

29 Jun 2009

Mortgage approvals were up in May, according to the Bank of England’s latest figures.
Mortgage lending stabilising

25 Jun 2009

Gross mortgage lending was down by 2 per cent in May at £10.3bn from the previous month and by 58 per cent year on year, according to Council of Mortgage Lenders' figures.
Napf plea to MPs to rethink pension tax

25 Jun 2009

The National Association of Pension Funds has written to MPs to urge them to rethink the pension tax changes announced in the Budget, saying they will have a negative impact on pension savings.
Nationwide chief Beale gets thirtieths' pension

25 Jun 2009

Pension experts have marvelled at the extremely generous pension of Nationwide chief executive Graham Beale which is based on 1/30th accruals.
NDFA bring out deposit plan

26 Jun 2009

NDFA has brought out the fixed growth deposit plan, a six-year FTSE 100 linked structured product that aims for growth.
No debate

25 Jun 2009

Doing a spot of judging a few months back for the HeadlineMoney Awards - and of course I would not dare break the organiser's ruthlessly enforced code of silence as to the particular category - I came across the heart-rending story of a journalist who had lost money investing in the stockmarket.
Northern Rock to be split in two

26 Jun 2009

Northern Rock has revealed how it will be split between two mortgage banks in the second half of the year.
Notes on a scandal

25 Jun 2009

Amid all the furore over MPs' expenses it occurred to me that a far greater financial scandal has been overlooked.
Novia nod to structured products set to boost market, says Barclays Wealth

26 Jun 2009

Barclays Wealth says Novia’s move to include structured products on its platform is a significant step towards securing greater access across the platform market.
Novia wrap for offshore pension trust

25 Jun 2009

Novia is providing the investment platform for a new overseas pension trust.
Nucleus to tackle debt

25 Jun 2009

IFA-owned wrap Nucleus is launching a rights issue in a bid to repay more than £3m in debts owed to South African insurer and shareholder Sanlam.
OECD warns of slow recovery

24 Jun 2009

The OECD believes the world economy is near the bottom of the recession but has warned that any recovery is likely to be "weak and fragile".
On the RDR screen

25 Jun 2009

The FSA is publishing its retail distribution review consultation paper this week.
One to watch from JPM

26 Jun 2009

JPMorgan Asset ManagementJPM Strategic Bond Fund
Openwork appoints new chairman

26 Jun 2009

Openwork has appointed Martin Davis as non-executive chairman.
Panel wants focus to help consumers

25 Jun 2009

The Financial Services Consumer Panel has called for the FSA to publish information on firms' performance and take over regulation of consumer credit from the Office of Fair Trading.
Paul Evans

25 Jun 2009

Axa Life chief executive Paul Evans is not a fan of business as usual simply because that is the way things have always been done. "I like the idea of change, of how I can help things to change. I get bored of business as usual."
Paymentshield appoints Tim Johnson as new chief executive

30 Jun 2009

Paymentshield has appointed Tim Johnson as its new chief executive.
Pearl group sold to Liberty International

29 Jun 2009

Hugh Osmond's Pearl Group has been sold to Dutch acquisition vehicle Liberty International.
Pensioners 'kidnap and torture' financial adviser for losing their savings

24 Jun 2009

A mob of pensioners in Germany are alleged to have kidnapped and tortured their financial adviser after losing £2m of their retirement savings.
Personal accounts will boost online demand

25 Jun 2009

The introduction of pension personal accounts will drive demand for online access to financial products, according to the Tax Incentivised Savings Association.
Phil Billingham to join Threesixty

30 Jun 2009

Perception Support chief executive Phil Billingham is joining Threesixty along with his firm's client base.
Pittaccio to set up IN wealth management

25 Jun 2009

IN Partnership is to launch a wealth management arm in September headed by ex-Thinc investment director Mark Pittaccio.
Play the flip side of the claim game

25 Jun 2009

Years ago, we had a set of coasters in our home decorated with sage statements along the lines of "A fool and his money are soon parted." This is probably the element of the phrase that most people remember but when you flipped the coasters over, they gave you the balance of the phrase which in this case was "How did they get together in the first place?". Without its contradictory segment, it loses its meaning and purpose.
Polar position

25 Jun 2009

Polar Capital Partners began just after the technology bubble burst in January 2001, set up by two of the sector's most respected investors.
Portal subsidiaries sold off in MBO

25 Jun 2009

Money Portal subsidiaries Burns Anderson, Sage Financial Services and Willis Owen have been sold off to Honister Capital after TMP was placed into administration due to excessive levels of debt.
Prime Minister says FSA will retain control of regulatory oversight

29 Jun 2009

Prime Minister Gordon Brown has said today that the FSA will retain its powers to oversee the financial system rather than transferring them to the Bank of England.
Principle buoy

25 Jun 2009

Ethical funds have always inspired debate in the financial industry, with opinion divided or whether they can stand up on investment as well as moral terms.
Protection campaign to help rewrite FSA's Money Made Clear pages

26 Jun 2009

The FSA has asked members of the new consumer protection campaign chaired by Tom Baigrie to help it rewrite the protection pages of its Money Made Clear website.
'Public prefer advisers to direct platforms'

25 Jun 2009

Zurich considers direct-to-consumer platforms will not succeed and will cause conflict with the IFA sector.
Public sector pensions cost 85 per cent of GDP

29 Jun 2009

The true cost of public sector pensions has been estimated at £1.2trn or 85 per cent of Britain's GDP.
PwC keeps investors in the dark on Keydata income payments

25 Jun 2009

Advisers have hit out at administrator PricewaterhouseCoopers for its lack of communication over income payments on Keydata plans.
PwC says whole Keydata sale not possible

30 Jun 2009

Administrator PricewaterhouseCoopers has said that a sale of Keydata’s business in its entirety will now not be possible.
PwC valuer to lead B&B share compensation scheme

24 Jun 2009

PriceWaterhouseCooper head of valuations Peter Clokey has been chosen to spearhead the investor compensation scheme for Bradford & Bingley shareholders.
Race report rocks regulator

25 Jun 2009

The FSA has admitted a "small number of individual problems" after a leaked internal report identified a racist culture at the regulator.
RAM and BMS Finance pitch new IHT solution

26 Jun 2009
RDR - FSA to consult further on commission on GPPs

25 Jun 2009

The FSA has put the issue of whether group personal pension (GPPs) should fall under the adviser charging regime proposed by the Retail Distribution Review out for yet more consultation.
RDR CP: ABI concern over higher qualifications for simplified advisers

25 Jun 2009

The Association of British Insurers has raised concerns that those offering simplified advice will have to obtain the same minimum qualifications as those offering full independent advice.
RDR CP: Adviser Charging plans set out by FSA

25 Jun 2009

The RDR consultation paper has proposed an end to commission-based advice and has set out rules by which all levels of advisers, except basic advice, decide their own fee-based remuneration through Adviser Charging.
RDR CP: Aifa says charging and training rules should apply to basic advice

25 Jun 2009

Aifa director general Chris Cummings is disappointed the basic adviser category is exempt from QCF level 4 qualifications and is not required to adhere to the FSA's adviser charging rules.
RDR CP: Aifa says RDR offers IFAs opportunity to demonstrate value

25 Jun 2009

The Association of Independent Financial Advisers has welcomed the RDR proposals as a means for IFAs to prove their worth to the financial sector.
RDR CP: Basic advice exempt from QCF level 4 qualifications

25 Jun 2009

Firms offering basic advice will not have to meet the same professional standards as independent financial advisers, although simplified advice processes will have to meet QCF level 4 qualifications, according to the FSA.
RDR CP: DA firms "highly engaged" with RDR

25 Jun 2009

Directly authorised firms appear to be "highly engaged" with the retail distribution review according to a research paper for the FSA.
RDR CP: FSA confirms higher qualifications for all advisers except basic

25 Jun 2009

The latest consultation paper for the retail distribution review has confirmed that all advisers are to be trained to QCA Level 4 by the end of 2012, except those operating under basic advice.
RDR CP: FSA estimates £430m compliance cost of RDR

25 Jun 2009

The FSA estimates that incremental compliance costs relating to the implementation of the retail distribution review will be £430m as a one-off cost and £40m a year.
RDR CP: FSA sets out possible code of ethics

25 Jun 2009

The FSA’s RDR consultation paper puts forward a possible draft code of ethics for advisers.
RDR CP: FSA to consult on adviser charging for GPPs

25 Jun 2009

The FSA is to consult the industry on how to apply adviser charging in the corporate pensions market when a group personal pension is sold without advice.
RDR CP: FSA to review platforms and their charges

25 Jun 2009

The FSA is to undertake a supervisory review and consideration of platforms and their charging structures.
RDR CP: FSA warns it will take action against commission closing down sales

25 Jun 2009

The FSA has warned it will come down hard on adviser and provider firms that attempt to "frustrate" its aim to quash commission-bias.
RDR CP: Fund manager proposals “not proportionate”, says IMA

25 Jun 2009

The Investment Management Association says the FSA’s proposals for fund managers are not proportionate.
RDR CP: Implementation costs highest for large fee-based firms

25 Jun 2009

Implementation of the retail distribution review changes will cost large fee-based firms more in one-off expenses than equivalent sized commission-based firms.
RDR CP: new definition of independence

25 Jun 2009

Today's retail distribution review consultation paper has put forward a new definition of independence.
RDR CP: New review for protection market

25 Jun 2009

The FSA has announced that it will review possible changes to regulation of the pure protection markets.
RDR CP: Providers welcome status of distributor influenced funds for IFAs

25 Jun 2009

Providers support the FSA’s decision to allow advisers who offer distributor influenced funds to remain ‘independent’ as long as they do not restrict their advice to these funds.
RDR CP: Waters says adviser exodus exaggerated

26 Jun 2009

FSA director of retail policy & conduct risk Dan Waters has disputed claims that the Retail Distribution Review will decimate adviser numbers, adding that some estimates are "way, way too high".
RDR CP: Waters says benefits of long-stop did not outweigh costs

26 Jun 2009

The FSA has claimed there was not enough evidence put forward to show that the benefits of operating a long-stop would outweigh the detriment to consumers.
RDR paper leaked to Money Marketing

24 Jun 2009

The financial advice industry will be split into independent advice, restricted advice and non-advised sales as part of the retail distribution review.
RDR sets out three-way split for advice

25 Jun 2009

The financial services industry will be split into independent advice, restricted advice and non-advised sales as part of the retail distribution review.
Reading the small print

25 Jun 2009

As investor risk appetite has started to return, so too has interest in "riskier" investments such as emerging equity markets and smaller companies.
Reasonable doubt

25 Jun 2009

Risk and cyclically sensitive assets such as equities, credit and commodities have enjoyed a recovery during the second quarter of this year as fears of systemic failure in the financial system are replaced by hopes that the global recession is coming to an end.
Register office

25 Jun 2009

PIMS has been and gone and the world has been put to rights. The market now awaits the findings of the FSA with the retail distribution implementation plan consultation paper.
Reveal the full report on race

25 Jun 2009

The allegations of racism at the FSA are extremely serious and must be fully explained by the regulator.
Revenue Sipp swoop in fraud investigation

25 Jun 2009
Riding the risk

25 Jun 2009

It was almost a year ago that I featured the Old Mutual corporate bond fund in this column. I thought I would revisit it as performance since then has been uninspiring to say the least.
Schroders unveils currency fund for retail market

26 Jun 2009

Schroders has introduced a global currency fund for retail investors looking for higher yields than cash deposits and government bonds.
Sesame in talks to acquire Bankhall and PMS

30 Jun 2009

Sesame says it has entered into discussions with Skandia about acquiring Bankhall and PMS.
SFO restrains $100m in Stanford case

30 Jun 2009

The Serious Fraud Office has obtained a restraining order on $100m (£60.2m) of assets believed to be held in London financial institutions in relation to the criminal investigation of Allen Stanford.
Shorting ‘tricky’ amid green shoots talk, says BlackRock’s Lyttleton

30 Jun 2009

BlackRock’s Mark Lyttleton says making shorts is tricky in the current environment due to market optimism which is heralding the arrival of a new bull market.
Sinfonia appoints Paul Kim as fund manager

29 Jun 2009

Sinfonia Asset Management has announced the appointment of Paul Kim as fund manager of the firm’s Oeic portfolios.
Sipps staying in the spotlight

25 Jun 2009

Self invested personal pensions are continuing to come under FSA scrutiny with Money Marketing uncovering two FSA Sipp probes in recent weeks.
Skandia International expands Singapore business

24 Jun 2009

Skandia International has expanded its business with the launch of a new Singapore version of its international investment solution.
Soft option from Pictet

26 Jun 2009

Pictet FundsPF (Lux) Agriculture Fund
Solid bric lays foundations of recovery

25 Jun 2009

With the first formal Bric summit ending last week, these nations are beginning to flex their financial muscle and are showing significant potential for growth despite the economic downturn.
Strategic thinking

25 Jun 2009

Bonds continue to dominate sales even as equity markets move ahead and opportunities in fixed interest look less obvious. Spreads over Government debt have narrowed in recent weeks, lessening the blatant investment opportunity managers have been talking of for months. Considering the recent rally, is the story and opportunity in corporate bonds now over? Strategic bond managers certainly do not think so but while they are still favouring the investment end of the market, many are branching ...
Structured switch

25 Jun 2009

Former Keydata consultant Adrian Neave is to join Arbuthnot Banking Group to head its new structured products distribution business.
Survey reveals UK equity optimism

25 Jun 2009

Over two-thirds of private client investment managers and stockbrokers believe there will be a further rally in UK equities within a year, according to a survey by Apcims and ComRes.
Switched on

25 Jun 2009

Recent announcements from Barclays, BP, British Airways and Royal Mail about the future, or possible future, of their pension schemes highlight the dramatic changes sweeping through the UK pension system.
System faces long road to recovery

25 Jun 2009

The banking system has a long way to go before any signs of real recovery are seen, according to Bank of England governor Sir Mervyn King.
Taking a cut

25 Jun 2009

I am trying to do the best thing for my employees who have a wide range of ages and salary levels. Can you tell me the pros and cons of introducing a salary sacrifice scheme?
Tarp cash for Lincoln National and Hartford

25 Jun 2009

Lincoln National and The Hartford have become the first life insurers to take public funds under the US government's troubled asset relief programme.
TEP Exchange temporarily suspended from AIM

29 Jun 2009

The TEP Exchange has been temporarily suspended from trading on the AIM market.
Thames River wins trio of mandates

24 Jun 2009

Thames River’s multi-manager team has won three institutional mandates worth £30m.
The fast line

25 Jun 2009

Last week, former BM Solutions managing director Michael Bolton claimed up to 80 per cent of HBOS loans were approved without full proof of income before the credit crunch.
Thinktank call to cut core out of 'self-obsessed' FSA

25 Jun 2009

The Adam Smith Institute has slammed the FSA's response to the financial crisis, saying the regulator's inability to recognise the extent of its own failings compromises its ability to improve regulation.
Tories put on pressure to block forestall rules

25 Jun 2009

The Tories have pledged to ramp up the pressure on the Government to change the Budget's anti-forestalling measures as part of the higher-rate tax relief pension changes.
Towers Perrin and Watson Wyatt to merge

30 Jun 2009

Towers Perrin and Watson Wyatt are to merge to create the world's largest employee-benefits consultancy.
Transfers are the top target for regulator

25 Jun 2009

Grant Thornton has warned that the FSA is taking a tough line on pension transfer business, with firms having to prove their advice is "positively suitable", rather than just not unsuitable.
Treasury defends Landsbanki action

25 Jun 2009

The Treasury has defended its response to the collapse of the Icelandic banking system last year, saying it was right to take urgent action to protect financial stability in the UK.
Treasury spent £22m on financial stability legal services

24 Jun 2009

The Treasury spent £22m on legal services relating to financial stability in 2008-09 according to research by the Liberal Democrats.
Triple theme fund

25 Jun 2009

WHEB Asset Management has set up a sustainability fund focusing on water, climate change and demographics. Managed by Clare Brook and Nicola Donnelly, the fund will invest globally.
Turner makes case for radical resolve

25 Jun 2009

FSA chairman Lord Turner has warned MPs that the authorities could fail to be radical enough in overhauling the financial regulatory and supervisory system.
Turner to chair Financial Stability Board committee on regulatory co-operation

29 Jun 2009
Ucits III limits on hedge fund leverage not 'appropriate', says FSA

24 Jun 2009

The FSA says significant constraints on leverage proposed in the Ucits III directive are not appropriate for hedge funds.
UK welcomes Jersey tax information exchange agreement

26 Jun 2009

The Government has welcomed Jersey’s signing of its fourteenth tax information exchange agreement.
Uncharted waters

25 Jun 2009

What does the withdrawal of the IF, Bank of Scotland and Astra brands from intermediated distribution mean for the mortgage broking market?
Use of passive funds promotes value for money says Swip

26 Jun 2009

Swip’s multi-manager team believes that holding passive investment funds in its portfolios can provide investors with value for money.
Vanguard enters with 11 index tracker funds

25 Jun 2009

Vanguard has made its first move into the UK market with the launch of 11 index trackers.
Vive la revolution

25 Jun 2009

In his speech at the Association of British Insurers 2009 conference earlier this month, the FSA's Lord Turner said he saw no need for the regulatory revolution in the banking industry to be extended across other sectors of the financial services. However, I believe we must embrace a revolutionary mindset if we are to tackle the long-standing structural issues he acknowledged as characterising our industry.
Walter Merricks to step down from FOS

30 Jun 2009
Website comments

25 Jun 2009

We have a totally unfair and inadequate system of regulation which allows the FSA to ride roughshod over what was, before its actions, a perfectly sound financial company, which is now the subject of a bidding war to gain control of its clients, much to the disgust of IFAs all over the country.
Wedding present

25 Jun 2009

As under-pensioned Britons come to realise just how expensive buying an annuity income actually is, we are going to see a trend towards even middle-class people making the most of what the state has to offer. For many cohabitees at or approaching retirement, this could lead to a walk down the aisle or a short trip to the registry office at least.
Wheb Asset Management - IM Wheb Sustainability Fund

26 Jun 2009

Wheb Asset ManagementIM Wheb Sustainability Fund
Which? warns on structured products

24 Jun 2009

Consumer group Which? says that structured products are confusing and complex and says they provide contradictory information in their product literature.
Windsor Life worst annuity transfer offender in new research

29 Jun 2009

Pensions providers are taking up to 10 weeks to transfer retired people’s funds over to their chosen annuity provider, according to new research by The Annuity Clearing House.

Money Marketing24 June 2009

Money Marketing
24 June 2009