Money Marketing
Online - July 2011
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Aifa issues human rights concerns over FSA data collection
25 Jul 2011
Aifa says individual adviser complaint reporting may carry human rights concerns.
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Legal & General - UK Growth Early Kick Out Plan 9
1 Jul 2011
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"Big Four" auditors expect investigation
29 Jul 2011
Telegraph says Pwc, E&Y, KPMG and Deloitte face Competition Commission investigation.
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A J Bell to launch funds/wrap platform "hybrid"
4 Jul 2011
A J Bell will launch a new investment Isa and dealing account on its Sippcentre platform on July 11.
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A J Bell urges HMRC to relax fixed protection rules
22 Jul 2011
Provider says almost 4,000 investors could see their available tax-free cash drop by £75,000 from April, 2012.
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A professional touch from Clydesdale
29 Jul 2011
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A question of choice and response
Online - July 2011
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A touch of Genius
Online - July 2011
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Abbey launches seven day deal at 3.35%
7 Jul 2011
Lenders also reduces rates by up to 0.2%.
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Abbey launches two new one-week deals
21 Jul 2011
Lender is offering a limited edition two-year tracker and five-year fixed.
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ABI to pay £8.7m to fund insurance fraud police unit
12 Jul 2011
The ABI is to fund a specialist insurance fraud unit of 35 detectives to fight fraud costing industry £2bn a year.
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Accident and sickness cover included in Perfect's new cashplan
7 Jul 2011
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Accord Mortgages cuts rates by up to 0.35%
11 Jul 2011
Lender says rate reductions are due to falling cost of funding.
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Accord rolls out tracker-fix hybrid mortgages
19 Jul 2011
Product tracks base for two years and then fixed for three.
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Act on client feedback
Online - July 2011
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Advertising Standards Authority investigates MAS "free advice" ad
29 Jul 2011
Investigation will focus on Money Advice Service name and claims that advice is independent and unbiased.
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Adviser jailed for £3m mortgage fraud
11 Jul 2011
Feruza Mettrick used identities of others to obtain mortgages on rented properties.
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Advisers report increase in buy-to-let finance availability
18 Jul 2011
Research shows intermediaries, on average, conducted 5.4% more B2L business in Q2.
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Aegon AM to rebrand as Kames Capital
12 Jul 2011
Aegon Asset Management is to rebrand as Kames Capital.
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Aegon Asset Management to rebrand as Kames Capital
12 Jul 2011
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Aegon looking to sell-off insurer
25 Jul 2011
Aegon is looking to sell-off its 190-year-old life insurance arm Guardian, according to reports.
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Aegon's Christophe Ferrand dies in house fire
6 Jul 2011
Christophe Ferrand, the chief administration officer of Aegon Asset Management, has died after a fire at his home in Scotland.
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Aifa blasts Consumer Focus pensions switching report
20 Jul 2011
Government-backed quango based its attack on IFAs on just 31 transactions over a 10 year period.
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Aldermore launches two new buy-to-let deals
4 Jul 2011
Products start from 4.68%.
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All IFAs will pay for Arch cru failure
8 Jul 2011
Gareth Fatchett says IFAs who did not recommend the Arch cru funds will end up footing the bill.
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Andrew Tyrie letter slams FSA RDR dismissal
21 Jul 2011
Treasury select committee chairman Andrew Tyrie has written to FSA chief executive Hector Sants describing the regulator’s rapid dismissal of the committee’s recommendation to delay the RDR “unacceptable”.
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Andrew Tyrie vows to keep up the RDR pressure
21 Jul 2011
TSC chair Andrew Tyrie tells Money Marketing “this will not be the end of the matter”.
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Arch cru package does not hide FSA failings
27 Jul 2011
Chris Gilchrist says the FSA and all the other parties involved in the Arch cru debacle were asleep at the wheel.
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Ascentric adds new tax wrapper
8 Jul 2011
Platform adds Sanlam TPP to wrapper offering.
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Ashmore poised for UK retail market
25 Jul 2011
Ashmore Investment Management is understood to be preparing a push into the UK retail market.
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Aussie fund manager buys JO Hambro for £209m
19 Jul 2011
BT Investment Management to acquire firm’s core investment management business.
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Aviva - Fixed Term Retirement Plan
5 Jul 2011
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Aviva Investors - Defined Returns Fund 11 Collateralised
19 Jul 2011
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Aviva/Childsure - Child Health Solutions
26 Jul 2011
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Axa Elevate links up with Hornbuckle Mitchell
11 Jul 2011
Parntership will give advisers access to “sophisticated” Sipp functionality.
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B&B arrears fall while NRAM arrears increase
29 Jul 2011
Bradford & Bingley and Northern Rock Asset Management make significant profits in H1.
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Back office to the future
Online - July 2011
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Balls: Govt should cut VAT to boost spending
26 Jul 2011
Ed Balls accuses George Osborne of “breathtaking complacency” over today’s 0.2 per cent growth figures.
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Banks posing biggest risk to face higher capital requirements
20 Jul 2011
Financial Stability Board sends proposals to G20 countries for up to 2.5 per cent higher capital charges.
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Barclays launches FirstBuy mortgages from 4.59%
18 Jul 2011
Lender to reduce its fixed and tracker deals by up to 0.5%.
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Baring Asset Management - Dynamic Emerging Markets Fund
4 Jul 2011
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BBA: ICB must not go beyond Basel capital levels
14 Jul 2011
Trade body says dynamics of the market mean higher limits are not necessary.
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BCC wants small business auto-enrolment exemption
5 Jul 2011
British Chamber of Commerce survey shows a third of sole traders see auto-enrolment as a top barrier to expanding.
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Ben Pakenham to join Aberdeen from Henderson
27 Jul 2011
Ben Pakenham is to leave Henderson Global Investors to join the high yield bond team at Aberdeen Asset Management.
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BlackRock UK absolute alpha removed from HL Wealth 150
13 Jul 2011
Hargreaves Lansdown says fund manager Mark Lyttleton’s stock selection has deteriorated.
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Board scraps performance fee on Richard Buxton trust
4 Jul 2011
The board of the Schroder UK growth investment trust have scrapped the performance fee following a period of outperformance.
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BoE leaves base rate unchanged
7 Jul 2011
The Bank of England bank rate has been held at 0.5 per cent for the 28th month in a row and has kept quantitative easing at £200bn.
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Bolton’s China fund suffered losses after two firms accused of fraud
14 Jul 2011
Fund guru says his team underestimated the risks of investing in China, according to reports.
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Brooklands expands QNUPS range
15 Jul 2011
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Brooklands Pensions - Brooklands IOMA QNUPS
5 Jul 2011
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Brooks Macdonald launches funds business
4 Jul 2011
Brooks Macdonald unveils seven-strong fund range.
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Cabinet rift over 50p tax rate
1 Aug 2011
Danny Alexander says those expecting tax breaks for wealthy are “living in cloud cuckoo land”.
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Cabinet row over public sector pension reforms
25 Jul 2011
Health Secretary Andrew Lansley criticised the Government’s pension reform proposals in a letter to Treasury chief secretary Danny Alexander.
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Cable to call for “rip-off” banks to be broken up
26 Jul 2011
Liberal Democrat business secretary Vince Cable is to warn that the ring-fencing of banks may not go far enough to prevent a future financial meltdown.
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Cable: Ring-fencing must be as effective as full bank seperation
27 Jul 2011
Business secretary Vince Cable has called on the ICB to demonstrate that ring-fencing retail banking activities would be as effective as the full separation of retail and investment divisions.
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Capita links up with In Partnership
8 Jul 2011
CFS to be exclusive proviser of products and fund research.
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Castle Trust appoints ex Burns Anderson CEO
6 Jul 2011
Mike Hughes joins as managing director of mortgages.
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Castle Trust appoints James Neave as head of lending
12 Jul 2011
Neave previously managing director of CoreLogic Solutions.
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Castlestone brings metals into Ucits
8 Jul 2011
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Castlestone investigation ‘not into criminal offences’
22 Jul 2011
Castlestone Investment Management has denied that the FSA investigation into it is connected to criminal offences.
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Castlestone issues FSA raid update
21 Jul 2011
Firm says it “continues to operate as normal”.
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Cazenove to close absolute UK dynamic fund at £225m
20 Jul 2011
Cazenove is planning to close its absolute UK dynamic fund at £225m after re-opening the vehicle in January this year.
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Chelsea launches lowest ever five-year fixed rate mortgage
28 Jul 2011
Five-year fixed mortgage at a rate of 3.39 per cent.
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China's bad debt problem 'bigger than expected'
5 Jul 2011
Bad debt held by Chinese local governments is a much larger problem than previously anticipated, Moody’s Investors Service claims.
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CII and ABI reject call for RDR delay
18 Jul 2011
CII says one year delay recommended by MPs will undermine the positive momentum behind the RDR.
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Clearing up Dilnot confusion
19 Jul 2011
James Lloyd demystifies some of the confusion around the Dilnot commission proposals.
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Clydesdale Bank - First Time Buyer for Professionals – 2-Year Offset Discounted SVR
21 Jul 2011
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Clydesdale launches 90% LTV deals for new-builds
13 Jul 2011
Offset deals available from 4.49% and a £999 fee.
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Cofunds sees AUA jump to £33bn
12 Jul 2011
Results for first half of 2011 show 34 per cent increase.
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Cofunds to support SEI offering
27 Jul 2011
Platform to provide Global Wealth Services dealing, settlement and sub-custodian services.
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Co-op Financial Services chief exec to step down
25 Jul 2011
Neville Richardson will step down from his roles as Co-operative Financial Services chief executive and group deputy chief executive later this year.
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Co-op FS staff to hear their fate
13 Jul 2011
Staff called to Manchester meeting to hear what the future holds for the group’s life and savings business.
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Co-op looks to sell life arm to Royal London - 670 jobs to go
15 Jul 2011
Field-based staff have been made redundant while branch-based staff will move to offer Axa products.
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Countrywide acquires estate agency Blundells
19 Jul 2011
Existing management team kept on to lead business.
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Court freezes £1m pension reciprocation cash
6 Jul 2011
A High Court judge has frozen over £1m of fees charged to members of pension reciprocation plans administered by Ark Business Consulting and two related entities.
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Coventry Intermediaries launches fixed range with no ERCs
22 Jul 2011
Products start from 2.99%.
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Credit Suisse to cut 2,000 jobs
28 Jul 2011
Credit Suisse is to cut 2,000 jobs by the end of 2012 in a bid to make cost savings across the business.
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David Ingram quits threesixty
29 Jul 2011
Threesixty technical director and co-founder David Ingram is leaving the support services firm.
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David Severn: Aifa move "understandable but regrettable"
27 Jul 2011
Former director general says the whole rationale for setting up Aifa was to give a voice to IFAs.
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Dear Rob & Roderic...
Online - July 2011
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Defaqto on Morgan Stanley IQ's UK Inflation-Linked Income Plan 2
29 Jul 2011
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Defaqto on OPM Fund Management's EFA OPM Diversified Target Return Fund
1 Jul 2011
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Defaqto on Partnership Enhanced Lifetime Mortgage
8 Jul 2011
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Dilnot: Govt should invest in LTC advice strategy
4 Jul 2011
Dilnot wants Government to invest in a major information and advice strategy to help people with long-term care needs.
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DWP bows to pressure on employer pensions self-certification
20 Jul 2011
Policymakers amend definition of basic pay to exclude commission, bonuses and overtime after concerns were raised about the impact on good quality pension provision.
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DWP: Court ruling puts members' pension protection rights "in doubt"
27 Jul 2011
Supreme Court ruling on the definition of a money purchase scheme will force the Government to write new legislation.
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Eden Financial appoints Dan Roberts and Leigh Himsworth
4 Jul 2011
Firm appoints former Gartmore duo in plan to build its presence in the asset management sector.
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Eight EU banks fail stress test
15 Jul 2011
No UK banks among the eight.
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Engage Mutual Assurance - Guaranteed 50 Plus Life Cover
19 Jul 2011
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Engage Mutual revamps guaranteed 50 plus life cover
29 Jul 2011
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Entrepreneur launches bid for Lloyds branches
28 Jul 2011
Hugo Osmond goes head to head with NBNK and Co-coperative Group.
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EU changes stance on Greece default
11 Jul 2011
Eurozone finance ministers may accept Greece should default on some of its bonds.
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EU lacks sympathy for UK's buy-to-let stance
22 Jul 2011
BSA argues buy-to-let should be excluded from EU mortgage credit directive.
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EU leaders agree £96bn Greek bail-out
22 Jul 2011
European leaders have agreed a second bail-out for Greece in an attempt to shore up the euro.
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Europe rebuffs calls for rise in compensation level
6 Jul 2011
The European parliament has refused to back a recommendation to increase the Investor Compensation Scheme’s maximum guaranteed level of compensation to €100,000.
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European Parliament proposes Solvency II delay
Online - July 2011
PwC says Solvency II delay until January 1, 2014 is now “almost certain” as the European Parliament backs the Council of the European Union’s proposal for a ’soft landing’ for insurers.
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European regulator warns it may limit ETF distribution
25 Jul 2011
The European Securities and Markets Authority (ESMA) says it could limit the distribution of certain ETFs to retail investors.
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Ex-Barclays adviser jailed for £600,000 fraud
21 Jul 2011
James Leonard Finnigan stole from dead, elderly and ill customers.
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Experts voice concern over GDP figures
26 Jul 2011
Experts highlight concerns with 0.2 per cent GDP rise in the Q2, 2011.
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F&C's Julie Dent to retire in September
11 Jul 2011
F&C’s Julie Dent is to retire from the asset management industry later this year, it has been confirmed.
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Fewer than half of absolute return funds beat inflation
25 Jul 2011
Fewer than half of funds in the absolute return sector have beaten inflation over the past year.
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Fidelity creates onshore emerging Asia
29 Jul 2011
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Fidelity International - Emerging Asia Fund
18 Jul 2011
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Fidelity launches emerging Asia fund
11 Jul 2011
Fidelity launches an onshore version of the emerging Asia fund in response to increasing adviser demand.
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Fidelity tests demand for Indian investment trust
4 Jul 2011
Fidelity is testing demand for an Indian investment trust.
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Financial services jobs grow at fastest pace since 2007
5 Jul 2011
PwC/CBI survey shows hiring expectations at their highest since June 2007.
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First State Investments – Australia Growth Fund
26 Jul 2011
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First State widens global net
8 Jul 2011
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First State's Asante calls for IMA emerging markets change
27 Jul 2011
First State’s Jonathan Asante is lobbying for more freedom when it comes to investing in emerging markets.
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Fitch issues "misselling" warning on absolute return funds
15 Jul 2011
Fitch has warned against absolute return funds for less sophisticated investors.
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FMG unveils Rising 6 multi-manager
18 Jul 2011
FMG Investments is planning to launch a “Rising 6” fund investing in Africa, Brazil, China, India, the Middle East and North Africa (Mena) and Russia.
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FOS awaits clarity on FSA package for Arch cru
26 Jul 2011
FOS puts complaints on Arch cru range on hold pending more details of the FSA’s £54m package.
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FPC appoints former IMA chief as external member
5 Jul 2011
Robert Jenkins has previously chaired the Investment Management Association.
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Friends Life appoints Richard Willets as director of longevity
4 Jul 2011
Insurer says Willets will play a “crucial role” as it looks to build its annuity proposition.
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Friends Life international MD to leave
27 Jul 2011
Roco Sepe has been with Friends for 20 years.
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Friends Life to close offices - jobs at risk
5 Jul 2011
Basingstoke office to close with consolidation of Manchester offices by the end of 2012.
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FSA bans and fines IFAs for UCIS advice
20 Jul 2011
FSA bans former Best Advice Financial Planning directors Paul Banfield and Anthony Moss from holding any significant influence functions.
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FSA bans two insurance brokers for misconduct
5 Jul 2011
Andrew Porter underinsured clients and retained the surplus, while Alexander Brincat offered free life cover without informing providers.
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FSA delays cash rebate ban and U-turns again on provider payments
1 Aug 2011
Regulator delays on cash rebate ban decision.
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FSA extends scope of RBS investigation
13 Jul 2011
Investigation to include takeover of US bank Charter One in 2004.
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FSA figures reveal RDR impact on older advisers
16 Jul 2011
FSA data shows 8% of advisers aged over 55 intend to retire early as a result of the RDR, with 5% to stop advising on retail investments.
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FSA fines two ex-A2O directors £42,000
12 Jul 2011
Andrew Ruff and Richard Lindley fined for widespread compliance failings.
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FSA platform paper delayed until next week
29 Jul 2011
Regulator confirms platform policy statement delay.
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FSA raids two Castlestone IM premises
20 Jul 2011
The FSA has executed search warrants on two Castlestone Investment Management premises.
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FSA says it will actively supervise new LTC products
4 Jul 2011
Margaret Cole says the FSA has a close interest in the development of LTC products.
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FSA says platforms must consider orphan client strategies
1 Aug 2011
Regulator says platforms need to “carefully consider” contractual obligation to clients who leave their adviser.
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FSA to publish report on HBOS failure, but not B&B
21 Jul 2011
FSA chairman Lord Turner says publishing a report on HBOS is in the public interest.
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FSA told to improve "inadequate" call records
7 Jul 2011
Complaints commissioner says regulator’s notes were “wholly inaccurate” in complaint case where customer lost £20,000.
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FSA warns on VCT and EIS promotions
13 Jul 2011
The FSA is cracking down on VCTs and EIS that are being marketed primarily on the tax incentives offered and not highlighting the risks involved.
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FSCS pays out £2m for first 10% of A2O claims
13 Jul 2011
Scheme has paid out £1.9m to 39 claimants over defunct IFA network Alpha to Omega and is considering a further 376 claims.
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FSCS says additional Keydata levy is unlikely
14 Jul 2011
No further levy expected but FSCS says some firms’ share of the £326m interim levy may have to increase.
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FSCS sets aside £30m to repay firms over Keydata
1 Jul 2011
Firms overcharged as part of the £326m interim levy to cover Keydata claims could receive refunds over the next financial year.
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FSCS updates Arch cru investors
20 Jul 2011
Compensation scheme says it is considering potential adviser liabilities and how to value the CF Arch cru funds.
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FSCS upholds five Clarkson Hill complaints
28 Jul 2011
Five complaints upheld total £160,000, with 30 yet to be resolved.
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Fuhr to leave BlackRock in ETF reshuffle
21 Jul 2011
Deborah Fuhr leaves BlackRock as it hands over research to newly created institute.
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GAM - GAM Star Global Quality Fund
26 Jul 2011
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GDP rises by 0.2% in second quarter
26 Jul 2011
The UK economy has grown by 0.2 per cent in the second quarter of 2011.
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Generation Asset Management - Emerging Markets Fund
14 Jul 2011
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George Soros to retire from hedge fund business
26 Jul 2011
Billionaire investor George Soros has decided to retire after more than four decades in the hedge fund industry.
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Gilliat Financial Solutions - Income Builder August 2011
26 Jul 2011
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Gilliat Financial Solutions - Twin Win August 2011
26 Jul 2011
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GLG launches European long-short Ucits fund
11 Jul 2011
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Global recession 'within one quarter' of QE3
7 Jul 2011
Another global recession could occur within three months of a third QE programme in the US if oil prices are not taken into consideration, according to Cazenove’s Robin McDonald.
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Globalisation is key for First State fund
15 Jul 2011
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Government and Labour set to back Dilnot’s LTC plans
4 Jul 2011
Health Secretary says Government will give Dilnot a “very positive response” but is unlikely to commit to a specific cost cap.
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Government must act on Dilnot recommendations
12 Jul 2011
Chris Horlick says the marginal extra cost of Andrew Dilnot’s proposals must not be allowed to stand in the way of reform.
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Government to impose "cost ceilings" on public sector pension schemes
19 Jul 2011
Treasury confirms it will follow Lord Hutton’s recommendation in an effort to limit taxpayers’ exposure to unfunded public sector pension liabilities.
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Govt faces strike threats over public sector pension reform
28 Jul 2011
Trade Unions Congress says Govt must show it is prepared to change course or unions will plan more strikes.
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Govt figures to include public sector pension deficit
11 Jul 2011
Figures published this week to include net public sector pension deficit figure.
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Govt must show how it will promote mutuals
18 Jul 2011
Group of MPs say new regulators must have formal commitment to promoting mutuals and diversity.
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Govt rejects call for Arch cru debate
11 Jul 2011
Government says questions over details of the £54m compensation package are a matter for the FSA.
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Govt rejects call for 'priority' review of FSCS funding
12 Jul 2011
The Government says the review is a matter for the FSA.
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Govt rejects call for public interest test over Lloyds branch sales
12 Jul 2011
The Government says responsibility for the sale of 632 branches lies with Lloyds Banking Group and the European Commission.
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Govt reveals £1.13trn public sector pension liabilities
13 Jul 2011
Public sector pensions account for nearly half of Governmnet liabilities.
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Govt sets out public sector pension contribution plan
28 Jul 2011
Three Govt departments consult on sliding scale of increases which see well paid contributing more.
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Govt to announce extra public sector pension contributions
28 Jul 2011
Leaked figures show increases public sector workers can expect to pay from April, say reports.
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Graham Duce
4 Jul 2011
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Grant Shapps calls on lenders to offer "mates mortgages"
5 Jul 2011
Grant Shapps calls for more “straightforward” products to help FTBs get on property ladder.
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Gross mortgage lending up 16% in June
20 Jul 2011
Gross mortgage lending totalled £12.6bn in June.
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Halifax Intermediaries system glitch causes confusion
6 Jul 2011
Glitch caused a number of “dummy” products to appear on website that were unavailable.
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Headhunters say FSA wages must rise to attract quality staff
18 Jul 2011
Hedley Mays says budget should increase by a third from current level of £500m to ensure staff quality.
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Hector Sants responds to Andrew Tyrie letter
21 Jul 2011
FSA chief executive Hector Sants has responded to Treasury select committee chairman Andrew Tyrie’s letter to assure him the regulator is taking his report seriously.
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Held to account
Online - July 2011
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Henderson retains 91 per cent of Gartmore assets
19 Jul 2011
Henderson says assets set to jump to £74.4bn.
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High Court hedge fund ruling could cost F&C over £12m
14 Jul 2011
A High Court judgment has ruled against F&C over a legal battle with one of its former fund of hedge fund businesses.
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Hinckley & Rugby BS launches online application system
26 Jul 2011
Online system allows intermediaries to follow application through to completion.
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HMRC could offer "get out of jail free" card to fraudsters
22 Jul 2011
HMRC could promise not to prosecute tax fraudsters in exchange for full disclosure, under new proposals.
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HMRC has "big challenge" to meet 25% cuts, says NAO
21 Jul 2011
HMRC plans to cut costs by £1.6bn and staff numbers by 10,000 in the next four years.
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HMRC must clarify VAT treatment of advice, say MPs
16 Jul 2011
The Treasury select committee’s report says the revenue must provide clarity over VAT on advice as soon as possible.
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Hornbuckle passes £280,000 FSCS levy to clients
6 Jul 2011
Sipp and Ssas provider says decision will cost each scheme it administers around £25 each.
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House prices up 0.2% in July
29 Jul 2011
Prices down 0.4 per cent on a yearly basis.
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House prices up 1.2% in June
6 Jul 2011
Prices down 3.5% on a year ago.
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Housing equity withdrawal remains negative in Q1
4 Jul 2011
Housing equity withdrawal now negative since Q2 2008.
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HSBC Exchange Traded Funds - HSBC MSCI Russia Capped ETF
15 Jul 2011
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'I want a manager who is not infallible and admits to mistakes'
1 Jul 2011
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ICB may not have properly considered full banking split, say MPs
20 Jul 2011
TSC report says “thin” coverage of full separation in ICB interim report gives impression it was not given full consideration.
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IFA Life considers representative body move
27 Jul 2011
Firm planning meeting later in summer to assess support.
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IFA warning after term renewal deal withdrawn
29 Jul 2011
IFAs warns his peers over offering renewable term policies after a client’s policy was sold and the renewable option withdrawn.
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Ignis appoints Polin replacement
8 Jul 2011
Ignis has appointed AllianceBernstein UK CEO and chairman Claude Chene as head of distribution.
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Ignis shuffles UK equity team
7 Jul 2011
Firm has appointed Vestra Wealth’s Mark Holden.
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IMA has not gone far enough on A,B,C
4 Jul 2011
Steve Brann says the IMA should have focused on the volatility and drawdown of funds in the managed sector.
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IMA to monitor money market funds
19 Jul 2011
The IMA is to monitor the holdings of money market funds from January 2012.
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IMF issues warning to Japan
20 Jul 2011
The IMF has issued a warning to Japan over its increase in public spending following the March earthquake.
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IMF: Italy must enforce spending cuts
13 Jul 2011
IMF calls for Italy to ensure “decisive implementation” of spending cuts.
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Incapital Europe - Equity Income Plan – FTSE 100 Series 4
25 Jul 2011
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Industry backs £140 a week single-tier state pension
27 Jul 2011
Official responses to DWP green paper reveal overwhelming support for a single-tier, flat rate state pension worth £140 a week.
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Industry supports 10 year notice period for state pension changes
28 Jul 2011
Responses to DWP’s green paper on state pension reform urge policymakers to introduce independent reviews of the state pension age.
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Inflation peak could be higher than anticipated, says MPC
20 Jul 2011
Seven of nine MPC members voted to keep base rate at 0.5 per cent.
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Investec Structured Products - FTSE 100 Enhanced Kick Out Plan 22
28 Jul 2011
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Investec Structured Products - FTSE 100 Geared Returns Plan 27
28 Jul 2011
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IoM regulator decides against grandfathering
1 Aug 2011
Isle of Man’s Financial Services Commission says grandfathering would be ’inappropriate’.
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John Charcol offers two new 95% LTV exclusives
28 Jul 2011
Broker offers family offset and rent-to-buy deals.
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JP Morgan multi-asset income fund moves to cautious sector
28 Jul 2011
The JP Morgan multi-asset income fund moves from the specialist to cautious sector.
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JPM turns to absolute return
29 Jul 2011
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JPMorgan Asset Management - JPM Global Equity Absolute Alpha Fund
29 Jul 2011
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Jubilee Financial Products - Inflation Deposit Issue One
27 Jul 2011
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Jubilee Financial Products - Inflation Plus Plan Issue One
27 Jul 2011
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Julian James appointed CII president
28 Jul 2011
Lockton Companies International chief executive James replaces Allianz UK general manager Chris Hanks.
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Junior Isa limit set to jump to £3,600
20 Jul 2011
20 per cent increase to be introduced in November 2011.
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Jupiter Asset Management - Global Energy Fund
27 Jul 2011
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Jupiter launches global energy fund
8 Jul 2011
Jupiter has launched a new fund to capitalise on the growing demand for energy in emerging markets.
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Jupiter Merlin fund moves towards "anaemic" UK
14 Jul 2011
The £754m Jupiter merlin worldwide portfolio fund has increased its weighting to the UK to adopt a more defensive stance.
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Kensington doubles maximum loan size to £1m
18 Jul 2011
Lender also doubles first-time buyer maximum loan size to £500,000.
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Kensington doubles underwriting and operations teams
15 Jul 2011
Lender also merged operations and underwriting departments into one team.
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Keydata judicial review begins
21 Jul 2011
Founder Ford claims emails obtained by FSA are subject to legal professional privilege.
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Labour slam Govt over public sector pension negotiations
28 Jul 2011
Shadow Treasury chief secretary Angela Eagle says Govt is provoking confrontation with unions.
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Large distributors support TSC call for RDR delay
19 Jul 2011
Openwork, SimplyBiz and Foster Denovo back Treasury select committee’s view that the RDR should be delayed.
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Leader
Online - July 2011
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Legal & General - Early Bonus Plan 1
14 Jul 2011
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Leslie: It is too early to take a position on bank reform
8 Jul 2011
Shadow Treasury financial secretary Chris Leslie rejects calls from within Labour to lead the charge for total separation of retail and investment banks.
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Lighthouse signs exclusive deal with head teachers' union
4 Jul 2011
Lighthouse will provide financial advice to members of the Association of Heads and Deputes for three years.
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Listen to the Treasury select committee over RDR
18 Jul 2011
The FSA should take a step back and remember what it is trying to achieve with the RDR.
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Lloyds reports £3.3bn loss after PPI costs
4 Aug 2011
Lloyds cites PPI provision for first half loss.
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Lloyds to launch £3.3bn securitisation
19 Jul 2011
RMBS backed by pool of prime residential mortgages originated by C&G and Lloyds TSB.
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LSL and Connells acquire stake in conveyancing firm
18 Jul 2011
Joint venture sees LSL, Connells and existing management all take 33.33% stake.
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LSL's First Complete acquires TMA
6 Jul 2011
TMA brand will be retained in deal to acquire £250,000 TMA gross assets.
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LV= in talks to outsource retail range to Threadneedle
8 Jul 2011
Decision over the proposal to be made early next month.
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LV= revamps its range for new era
11 Jul 2011
LV= Asset Management last week revealed a potential overhaul of its funds, including their share classes and management arrangements.
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Make a connection
Online - July 2011
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Man Group to acquire Lehman exposure from GLG funds
18 Jul 2011
Man Group is attempting to acquire all the residual exposure to the Lehman estates from GLG managed funds.
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Mansfield Building Society - Two- Year Fixed Rate Mortgage
29 Jul 2011
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Mansfield Building Society - Two-Year Fixed Rate Mortgage
29 Jul 2011
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Markets fall on eurozone fears
12 Jul 2011
Concerns the crisis could reach Italy and Spain while Euro leaders say Greece may be set to default.
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Martin Currie plans new fund for Catechis
7 Jul 2011
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McFall tells Govt to cap pension charges at stakeholder limits
1 Aug 2011
WRIC chairman Lord John McFall says pension scheme charges should be capped to prevent auto-enrolment savings being “eroded away”.
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McFall, Drake and Newby to sit on regulatory scrutiny committee
20 Jul 2011
House of Lords confirms its half of the committee to scrutinise draft Financial Services Bill.
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Meacher: Where are Labour on splitting the banks?
4 Jul 2011
Labour MP calls on Ed Miliband to “lead the charge” for total separation.
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MEP wants public to know cost of European compensation scheme
8 Jul 2011
Conservative MEP Syed Kamall says consumers must know how much of their investment goes into the ICS.
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Meteor Asset Management - FTSE 100 Income Deposit Plan 2
29 Jul 2011
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Meteor Asset Management - FTSE 5 Quarterly Defensive Plan
14 Jul 2011
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Meteor launches two structured products
11 Jul 2011
Both products are linked to five FTSE100 shares.
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MetLife calls for Isa-style "mini pension"
22 Jul 2011
Provider urges Treasury to launch £5,000 a year scheme which allows savers to access up to 25 per cent of their pension pot every five years.
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MMTV: European regulator may get new swooping powers
5 Jul 2011
Steve Tolley reports from Brussels on attempts to give the European markets supervisor power to conduct unannounced on-site inspections.
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Moneygate acquires city-based IFA Equus
21 Jul 2011
Move increases Moneygate’s funds under influence by £1bn.
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Moody’s may downgrade US AAA rating
14 Jul 2011
Moody’s says it may review its AAA rating of the US.
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Moody's downgrades Greece
25 Jul 2011
Moody’s Investors Service has downgraded Greece by three notches, warning that the proposed bailout package would constitute a default.
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Morgan Stanley IQ - UK Inflation-Linked Income Plan 2
21 Jul 2011
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Mortgage firm default adds £7.3m to FSCS levy
26 Jul 2011
Compensating firm’s customers cost £7.3m, causing levy to increase from £217m to £224.3m.
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MP "deeply disappointed" Govt will not publish Rock advice
22 Jul 2011
TSC member and Labour MP Andy Love says publishing would reveal true Govt commitment to mutuals.
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MPs back banks over HNW client RDR opt-out
16 Jul 2011
The TSC’s RDR report calls on the FSA to find ways for HNW clients to opt out of the RDR after banks call for exemption.
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MPs call for long-stop to be considered in regulation restructure
16 Jul 2011
TSC RDR report calls on parliamentary committee scrutinising draft Financial Services Bill to decide on introduction of long-stop for advisers.
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MPs call for one year delay to the RDR
16 Jul 2011
Treasury select committee report into RDR says FSA should also provide deadline flexibility for advisers on case by case basis.
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MPs launch auto-enrolment inquiry
8 Jul 2011
Work and pensions committee to cover opt-out rates, provision of advice and Nest’s investment strategy.
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MPs slam "disturbing" fall in HMRC service levels
30 Jul 2011
Treasury select committee says sustained budget cuts among causes of fall in standards
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Multi faceted
4 Jul 2011
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N&P cuts 85% LTV fixed rates by up to 0.4%
22 Jul 2011
Five-year fixed rate now available under 5%.
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N&P warns of branch closures if Yorkshire merger collapses
11 Jul 2011
N&P says some products and services could also be withdrawn if members vote against merger.
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Nationwide reduces rates by up to 0.3%
20 Jul 2011
Rate reductions apply to all two and three-year fixes for new customers.
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NatWest cuts buy-to-let rates by up to 1.4%
11 Jul 2011
Residential mortgages reduced by up to 0.46%.
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NatWest to accept FirstBuy applications
13 Jul 2011
Scheme offer equity loan of 20% to first-time buyers buying new-builds.
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Nest Government loan hits £120m
20 Jul 2011
Accounts for 2010/11 reveal the Government-backed pension scheme drew down £78.9m in loan funding from the DWP during the year.
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Nigel Payne leaves Assurant Intermediary
12 Jul 2011
Assurant Intermediary managing director Nigel Payne has left the company following a restructure of the business.
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No UK exposure for Merchant Capital's new structured product
8 Jul 2011
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Norwich & Peterborough Building Society - Three-Year Fixed Rate - Direct
21 Jul 2011
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Norwich & Peterborough Building Society - Two-Year Fixed Rate - Direct
21 Jul 2011
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Nucleus appoints Bruce Wilson and John Moore as non-execs
18 Jul 2011
John Moore and Bruce Wilson will join board immediately.
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Nucleus launches new gross interest account
27 Jul 2011
Wrap says account eliminates delays in reclaiming tax.
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Oakwood to service second-charge and unsecured loans
1 Jul 2011
Servicer has appointed Gerry McHugh to oversee the process.
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Obama slams Republicans over debt talks
26 Jul 2011
US president Barack Obama has slammed the Republican plan to increase the country’s borrowing limit, claiming the impasse could spark a “deep economic crisis”.
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Omnii launches client credit file access tool
27 Jul 2011
Product allows advisers to access customers’ credit files without client being present.
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Openwork appoints distribution and marketing MD
13 Jul 2011
Mark Duckworth currently commercial development director at Openwork.
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Openwork completes 2plan acquisition
11 Jul 2011
FSA approval for acquisition granted on July 5.
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OPM absolute return fund targets capital preservation
1 Jul 2011
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Origen MD Stephen Greenstreet resigns
7 Jul 2011
Greenstreet to be temporarily replaced by Aegon’s executive chairman of distribution Patrick Gale.
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Osborne rejects TSC call for extra independents on FPC
6 Jul 2011
Chancellor George Osborne suggests that Alastair Clarke will not be on the final committee.
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Ossiam - Ossiam ETF EuroStoxx 50 Equal Weight NR
19 Jul 2011
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Ossiam - Ossiam ETF iStoxx Europe Minimum Variance NR
20 Jul 2011
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Ossiam - Ossiam ETF Stoxx Europe 600 Equal Weight NR
19 Jul 2011
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Ossiam - Ossiam ETF US Minimum Variance NR (USD)
19 Jul 2011
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Paradigm links with Partnership for enhanced equity release
11 Jul 2011
Agreement will see Paradigm’s mortgage club members offer Partnership’s new enhanced lifetime mortgage to clients.
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Paragon considering Northern Rock bid
4 Jul 2011
Reports suggest the buy-to-let lender is making enquiries into the purchase of the nationalised bank.
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Paragon's securitisation preparations "well advanced"
28 Jul 2011
Group advanced £95.3m since return to new lending.
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Parmenion adds risk rated portfolios to platform
11 Jul 2011
Frontier Investment Management funds blended across six asset classes.
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Partnership brings impaired life expertise to equity release market
8 Jul 2011
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Patience on equities will pay off
26 Jul 2011
Julian Chillingworth says equities offer good value and investors taking a long-term view should get rewards.
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Personal business
Online - July 2011
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PFS selects Chartered Champions
11 Jul 2011
Professional body has named its chartered champions as part of efforts to boost awareness of chartered status.
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Picking the winners
1 Jul 2011
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Platform - 2-Year Fixed Buy-To-Let Mortgage
15 Jul 2011
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PMI decline continues but corporate cashplans buck trend - Laing & Buisson
8 Jul 2011
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Pointon York Sipp fills Islamic gap
1 Jul 2011
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Pointon York Sipps target Muslim Brits
1 Jul 2011
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PosSol cuts 20% of head office jobs
27 Jul 2011
Positive Solutions is cutting almost a fifth of its head office workforce in a bid to reduce costs.
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Professional process
Online - July 2011
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Property dealer jailed for defrauding investors
4 Jul 2011
Shaun Kiely defrauded seven investors in deals exceeding £1.3m
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PSigma takes dual approach to global equity
1 Jul 2011
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PwC: House prices ‘won’t recover until 2020’
12 Jul 2011
House prices will not reach their pre-crisis levels until 2020, according to new research from PricewaterhouseCoopers.
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PwC: UK needs pension age of 70 and £20bn in cuts
6 Jul 2011
PwC says a retirement age of 70 and a further £20bn austerity package is needed to reduce debt long-term.
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Ramamurthy succeeded by Morris after 34 years with Towers Watson
7 Jul 2011
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Rathbone and Liontrust income funds join 'blacklist'
1 Aug 2011
Rathbone and Liontrust have both seen their flagship income funds added to the black list of underperformers in Principal Investment Management’s latest income study.
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Rathbones profits jump 30 per cent
27 Jul 2011
Rathbones Brothers has seen its profits jump 30 per cent for the first six months of 2011.
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Rathbones to launch third multi-asset fund
14 Jul 2011
Rathbones is to launch a higher risk multi-asset fund to be run by David Coombs.
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Regulators urge caution on claims firms
19 Jul 2011
Guidance from FSA, Ministry of Justice, FOS, and FSCS says consumers should not be pressured into passing complaints to claims firms.
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Regulatory switch scrutiny committee calls for evidence
20 Jul 2011
New committee scrutinising the draft Financial Services bill calls for evidence on new regulatory architecture.
-
Regulatory uncertainty delaying sale of state owned banks
19 Jul 2011
UKFI says it will wait for more clarity before recommending sale of Govt stakes.
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Remortgage advances up 17% in May
11 Jul 2011
CML says value of remortgage advances up £0.6bn in May.
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Retainer rewards
Online - July 2011
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Revealed: The MPs who will scrutinise Govt plans for financial regulation
19 Jul 2011
Parliament confirms six MPs to scrutinise draft Financial Services Bill after bid to keep David Laws out fails.
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S&P downgrades Greece by two notches
28 Jul 2011
Standard & Poor’s has downgraded Greece’s debt rating from CCC to CC, a move which places the country just two notches above default.
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S&P downgrades Greek credit rating
4 Jul 2011
S&P has downgraded the credit rating for Greece, citing concerns that the country will have to restructure its private sector debts.
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S&P Greece warning kills French restructuring plan, says F&C's Scott
4 Jul 2011
Ted Scott says proposals for a voluntary restructuring of Greek debt have been blown out of the water by today’s warning issued by S&P
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Saffron Building Society launches 95% LTV deal
6 Jul 2011
Mortgage aimed at first-time buyers who have been renting for 12 months or more.
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Santander to sell The Mortgage Alliance to LSL
5 Jul 2011
LSL Property Services is set to acquire mortgage club The Mortgage Alliance from Santander, Money Marketing understands.
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Santander's gross mortgage lending down 21%
27 Jul 2011
Bank advanced £9.7bn in first half of 2011, compared to £12.3bn in first half of 2010.
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Senior duo leave Ashcourt Rowan
13 Jul 2011
Guy Stephens and Tim Cockerill have both quit the firm to join Rowan Dartington.
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Sense pre-tax profits triple
18 Jul 2011
Network sees profits jump to £259,000.
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SFO launches probe into ETFs
6 Jul 2011
The Serious Fraud Office has launched a review into how exchange-traded funds are marketed.
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Should advisers be exploring group risk?
12 Jul 2011
Paul Avis says the group risk market could benefit in a post-RDR world.
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Simon Hudson steps down as Tenet chief
27 Jul 2011
Hudson steps down due to commitments required by RDR.
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SimplyBiz pre-tax profits steady
11 Jul 2011
Accounts show figures rising 1 per cent to £500,308.
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SJP: We have no plans to join Aifa
28 Jul 2011
Firms sees overall profits soar but distribution profits fall as commissions are cut.
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Skandia supports 'sunset clause’ on legacy commission
28 Jul 2011
Skandia advocates a ‘sunset clause’ on legacy commission.
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Skipton BS advances in first half of 2011 up 409% year-on-year
26 Jul 2011
Skipton reports pre-tax profit of £6.3m in H1, compared to £21.7m same period last year.
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Skipton Building Society - 2 Year Base Rate Tracker
25 Jul 2011
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Skipton Building Society - 2 Year Fixed Rate
25 Jul 2011
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Skipton Building Society – Mortgage range update
25 Jul 2011
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Skipton Intermediaries - 2-Year Base Rate Tracker Purchase & Remortgage
4 Jul 2011
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Skipton Intermediaries - 2-Year Base Rate Tracker Purchase & Remortgage
4 Jul 2011
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Skipton Intermediaries - 2-Year Fixed Rate Purchase & Remortgage
4 Jul 2011
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Snowden stays wary over Europe
25 Jul 2011
Stephen Snowden has said he will remain cautious on peripheral Europe despite credit spreads being the widest they have been in the UK corporate bond market since 2009.
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Standard Life makes further cuts ahead of RDR
20 Jul 2011
Provider to cut 39 jobs and create 19 new roles as part of three-year structural reform programme.
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Strauss-Kahn 'expected to be released from bail'
1 Jul 2011
Prosecutors on the Dominique Strauss-Kahn case have agreed to free the former IMF head on his own recognizance, according to reports.
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Surveyor convicted for £10m mortgage fraud
1 Jul 2011
Mary-Jane Rathie received gifts for inflating property prices to obtain mortgages for another woman.
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Thames River closes offshore global boutiques fund
13 Jul 2011
Thames River has closed the Dublin-domiciled version of its global boutiques fund because of its small size.
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The UCIS advice failings of a media IFA
21 Jul 2011
Best Advice advised clients, including an 87-year-old woman, to invest up to 80 per cent of their funds in UCIS.
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The word on plagiarism
1 Jul 2011
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Threadneedle appoints head of multi-asset
19 Jul 2011
Threadneedle Investments has appointed Toby Nangle as head of multi-asset.
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Threadneedle boosts US equities team with two hires
29 Jul 2011
Threadneedle has appointed a US equities analyst and a fund manager to its team.
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Timing right for Morgan Stanley inflation-linked plan
29 Jul 2011
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TMW launches new buy-to-let products and reduces rates
13 Jul 2011
New trackers available from base plus 2.49%.
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Towers Watson slams FSA’s “unbalanced” approach to with-profits funds
25 Jul 2011
Consulancy says that the regulator’s with-profits consultation overlooks the interests of shareholders and members.
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TPR considers kite mark for 'good' DC schemes and changes to charge disclosure regime
7 Jul 2011
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Treasury prepares to investigate linking Isas and pensions
22 Jul 2011
The Treasury will hold two industry workshops in the next two weeks as it looks at the practicalities of linking Isa and pension savings.
-
Treasury U-turns on RPI-linked annuities MIR ban
22 Jul 2011
The Government has backtracked on proposals to prevent savers using RPI-linked annuities without a floor to meet the £20,000 minimum income requirement.
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TSC chairman Tyrie warns FCA will stifle competition
12 Jul 2011
Treasury select committee chairman Andrew Tyrie calls for “value for money” regulation.
-
TSC's RDR report due on Saturday
12 Jul 2011
The Treasury select committee’s report into the RDR will be published this Saturday.
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UK asset management risks losing competitive edge
25 Jul 2011
Fund managers are concerned the UK could be losing its competitive edge as an international hub for the asset management industry, according to the IMA.
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UK banks expected to pass EU stress tests
15 Jul 2011
Out of 90 banks stress tested across Europe between 10 and 15 are thought to have failed.
-
UK buy-to-let RMBS performance improves in May
18 Jul 2011
Moody’s says buy-to-let borrowers will be able to cope with base rate increases.
-
UK inflation falls to 4.2%
12 Jul 2011
The UK’s annual inflation rate has fallen slightly over the past month to 4.2 per cent.
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UK unemployment falls to 7.7%
13 Jul 2011
The UK unemployment rate fell from 7.8% to 7.7% in the three months to May.
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Unions brand Govt public sector pension figures a "political stunt"
14 Jul 2011
TUC says ’scarily big’ figure is meaningless and is being used to shore up failing arguements.
-
US announces deficit deal
1 Aug 2011
President Obama confirmed yesterday that a bipartisan agreement has been reached that would allow the debt ceiling to be raised.
-
US announces delay to introduction of Fatca
18 Jul 2011
Reporting requirements will begin in 2014, a year later than first planned.
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'US likely to be downgraded even if debt ceiling is increased'
29 Jul 2011
Capital Economics says downgrade can be avoided if US makes $4trn of spending cuts over 10 years.
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Vebnet's Verner dismissed by Standard Life
7 Jul 2011
-
Virgin cools interest in 630 Lloyds branches
25 Jul 2011
Virgin Money is set to cool its interest in the 630 Lloyds Banking Group branches for sale and will instead focus its intention on Northern Rock.
-
Virgin Money and Co-op among bidders for Lloyds branches
12 Jul 2011
Start-up bank NBNK has also placed a bid for 632 branches Lloyds is being made to sell off.
-
Vose takes over Investec global dynamic fund
13 Jul 2011
Ian Vose has taken over the management of the Investec global dynamic fund from Jacob Robbins, according to FE Trustnet.
-
Vote on US debt delayed
29 Jul 2011
A vote on the Republican bill to raise the US debt ceiling and prevent a default was delayed on Thursday.
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Walker Crips Structured Investments - Annual Growth Plan Issue 13 (Kick Out)
1 Jul 2011
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Walker Crips Structured Investments - Defensive Dual Index Plan (Kick-out) Issue Three
1 Jul 2011
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Webb challenges industry to simplify "baffling" pensions jargon
12 Jul 2011
The DWP has published a simplified pensions language guide, building on work carried out by the ABI and Nest.
-
What a shoddy piece of pension switching research
20 Jul 2011
Report from Government-backed Consumer Focus is lacking in any hard evidence to back up its claims.
-
What are the prospects for UK retailers?
11 Jul 2011
Fund managers have clashed on the outlook of UK retailers.
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What the industry thinks about Aifa's restricted move
27 Jul 2011
A selection of views from across the industry on the trade body’s decision to allow restricted advisers to become members.
-
What will the client of tomorrow look like?
25 Jul 2011
PFS president Eddie Grant talks to Rachael Adams about the launch of the Tomorrow’s Client conference.
-
Woodford's investment trust gets "sell" rating
29 Jul 2011
Numis Securities has assigned Neil Woodford’s Edinburgh Investment Trust a “sell” rating in its latest update of the sector.
-
Worldwide Financial Planning MD Peter McGahan quits
4 Jul 2011
Fellow director Neil Chamberlain says the firm has no plans to replace McGahan, who has left to focus on his family and “clearing his name”.
-
Yorkshire BS reduces fixed rates by up to 0.4%
22 Jul 2011
Two and five-year fixed rates start from 2.59% and 3.49% respectively.
-
Zurich to cut 243 jobs
7 Jul 2011
Job cuts form part of an ongoing restructure of Zurich’s general insurance business.
-
Zurich UK Life chief exec to step down
13 Jul 2011
Michael Brennan is retiring from the company and will leave on August 31.
