Money Marketing
Online - May 2011
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BIBA presents 7,000 strong petition for review of FSCS
13 Jun 2011
BIBA’s 7000 signature petition is to be presented to the House of Commons tonight.
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Furness Building Society - 3-Year 0.45% Discount Remortgage
10 May 2011
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IM Asset Management - CF IM Capital UK Growth Fund
23 May 2011
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Incapital Europe - Equity Income Plan - FTSE100 Series III
9 May 2011
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Mortgage Trust - 2-Year 4.99% Fixed Buy-To-Let Remortgage
23 May 2011
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Mortgage Trust- 2-Year Libor + 3.09% Tracker Buy-To-Let Remortgage
23 May 2011
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10,000 call for state pension age increase to be abandoned
18 May 2011
A 10,000 signature strong petition to be delivered to Downing Street.
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100pc first year's contributions consultancy charge OK - DWP
6 May 2011
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A unique role for IFAs to play in banking?
5 May 2011
Mike Fenwick argues that IFAs can help provide an alternative to the current compensation set-up.
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Abbey for Intermediaries appoints new managing director
9 May 2011
Miguel Sard replaces Alan Matthewson.
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Abbey for Intermediaries increases large loan LTV
27 May 2011
LTV increased from 60% to 70% and lender has launched range of new products.
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Abbey for Intermediaries launches remortgage exclusive
20 May 2011
The two-year fixed rate is available to key accounts at 3.19%.
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ABI issues guidance to speed up death claim payouts
23 May 2011
Claimants will have to complete a declaration agreeing to pay back any money they are not entitled to.
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Accord cuts 85% LTV mortgages by up to 0.15%
24 May 2011
Two-year fixed rates start from 4.09%.
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Aegon appoints Jim Ewing as chief actuary
25 May 2011
Ewing joins from Lloyds Banking Group where he was Solvency II director.
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Aegon distribution arms continue to post losses
12 May 2011
Origen and Positive Solutions recorded a £2m combined loss, as UK earnings fall 60 per cent.
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Ageas Protect - Your Life Plan Income Protection update
27 May 2011
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Aifa appoints RBS and M&G as associate members
18 May 2011
Aifa says partnership means new events and a new way of communicating with members.
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Aldermore increases maximum loan size to £1m
11 May 2011
Maximum for 75% deals previously £600,000.
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Alliance Trust wins vote on discounts
20 May 2011
Britain’s largest investment trust has won a vote which tried to force it to control its share price discount on an automatic basis.
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Architas Multi-Manager - Architas Dynamic Multi-Asset Passive Fund
31 May 2011
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Architas Multi-Manager - Growth Multi-Asset Passive Fund
31 May 2011
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Architas Multi-Manager - Reserve Multi-Asset Passive Fund
31 May 2011
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Arrow approach scrapped as PRA promises more intrusive regulation
19 May 2011
All firms will have ’baseline supervision’ so regulators see problems coming.
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Artemis hires LV= duo and readies Europe fund launch
18 May 2011
Artemis Investment Management has hired Mark Page and Laurent Millet from LV=.
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Avelo consults on staff cuts
9 May 2011
Avelo is considering redundancies following the merger and rebrand of 1st Exchange, N4 and Screen Business.
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Aviva Investors – Adventurous Multi-Asset Fund
26 May 2011
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Aviva Investors – Balanced Multi-Asset Fund
26 May 2011
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Aviva Investors – Cautious Multi-Asset Fund
26 May 2011
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Aviva pension sales up as provider focuses on RDR
17 May 2011
Interim results reveal nearly two-thirds of new individual pensions sales were written on a fee basis in the first quarter.
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Aviva to launch American equity income fund
16 May 2011
Aviva Investors intends to launch fund later this year, subject to regulatory approval.
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Aviva UK pensions chief quits for Lloyds
23 May 2011
Strauss will take up new role with Lloyds Banking Group.
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Bancassurers may get EU capital adequacy break
27 May 2011
EU banks with insurance arms may avoid the 10 per cent cap on insurance capital under Basel III.
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Bank holds base rate at 0.5%
5 May 2011
Rate rise was thought to be unlikely given recent GDP figures.
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Banks fall short of Merlin lending targets
23 May 2011
Lending to SMEs falls £2.2bn short of the £19bn quarterly target.
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Barclays withdraws from PPI legal action
9 May 2011
Bank has set aside £1bn to cover PPI redress and admin costs.
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Barnier: Basel III will not be watered down for bancassurers
27 May 2011
EU internal market commissioner Michel Barnier has rejected reports Basel III will be watered down for banks which have insurance arms.
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BBA will not appeal PPI judicial review
9 May 2011
Trade body says decision not to appeal will provide certainty for bank customers.
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BBA's Angela Knight faces calls to resign over PPI
10 May 2011
Banks have questioned the way the trade body handled the judicial review.
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BCC cuts UK growth forecast to 1.3 per cent
31 May 2011
The British Chambers of Commerce has lowered its forecast for economic growth in the UK in 2011 and 2012.
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Bestinvest launches new Select platform
24 May 2011
Bestinvest is launching a new wrap platform powered by SEI.
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Big Isa haul masks outflows from Asia and bonds, IMA stats
9 May 2011
Isas recorded their best sales in nine years over the run-up to the end of the financial year.
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BlackRock - Continental European Income Fund
18 May 2011
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BlackRock – Global Income Fund
18 May 2011
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BlackRock – World Resources Income Fund
18 May 2011
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Blanchflower: Return of banking regulation to the BoE is a mistake
1 Jun 2011
Former Bank of England MPC member David Blanchflower said the return of the powers to the BoE is because the Government wants a “toothless watchdog”.
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Briggs takes reins at Friends next week
24 May 2011
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BSA elects Peter Griffiths as chairman
5 May 2011
Principality Building Society chief exec Peter Griffiths replaces David Webster as BSA chairman.
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Cable: 'I can see another crash happening'
26 May 2011
Business Secretary Vince Cable says he is concerned over the ’piecemeal’ international approach to bank regulation.
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Cable: Labour failing to engage over financial reform
23 May 2011
Labour wrong to focus on short-term issues like levels of quarterly growth, according to the Business Secretary.
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Call for state owned bank shares to be given away
16 May 2011
The Centre for Policy Studies says giving shares to taxpayers and recouping a portion of future sales could save £750m.
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Call to keep UK out of EU bailouts rejected
25 May 2011
Parliamentary motion to stop UK involvement in future EU bailouts has been defeated.
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Calls for abolition of short service refunds ‘driven by self-interest’ - Howorth
6 May 2011
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Cap mortgages at 90% LTV and 3.5 LTI, says IPPR
31 May 2011
Left-leaning thinktank calls for the FSA to cap mortgages at 90 per cent of the property’s value and three and a half times household income.
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CBI: Nest charges "not cheap enough"
6 May 2011
CBI director-general John Cridland says Nest’s annual charges will need to be lowered “to justify its existence”.
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Charles Stanley acquires IFA firm Jobson James for £2.25m
16 May 2011
Total cost of deal depends on revenue targets being hit over two years.
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Cheltenham & Gloucester - 4-Year 4.49% Fixed Remortgage – Direct
6 May 2011
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Choice of vehicle, Matt Trott, Head of Annuities, LV=
Online - May 2011
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CII finds missing exam papers
16 May 2011
35 affected candidates should have their results by the end of the week.
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CII loses adviser exam papers
11 May 2011
The Chartered Insurance Institute has lost 35 advisers’ exam papers and told those affected they will have to resit their exams.
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City Asset Management - Elite CAM Balanced Discretionary Portfolio
12 May 2011
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City Asset Management - Elite CAM Cautious Discretionary Portfolio
12 May 2011
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Cofunds announces pre-tax profits of £7.9m
11 May 2011
Firm increased assets under management 33.5 per cent to £30.3bn.
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Cofunds appoints head of platform consultancy
17 May 2011
Mike Preston will lead team which helps IFAs adopt the platform.
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Co-op and Britannia launch two-year fix at 85% LTV
13 May 2011
Lenders also reduced rates on number of three and five-year fixed rates.
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Countrywide launches advice service for new builds
10 May 2011
70 mortgage consultants on new build sites to offer advice to customers buying new builds.
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Coventry BS looks at finance options for Rock bid
26 May 2011
Nationwide rules itself out of running for state-backed bank.
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Curtis Banks acquires Montpelier assets
16 May 2011
Deal goes through despite “inherent uncertainty” of Montpelier’s Sipp investments.
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Cyrun takes over SVM investment trust
16 May 2011
Cyrun Finance is now likely to have taken “effective control” after the trust announced Cyrun had bought another large stake this morning.
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Dame Carol Black to speak at Protection Review
9 May 2011
Black is co-chairing the independent review into the UK’s sickness absence system.
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Darlington Building Society - 2-Year 2.8% Discount
6 May 2011
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Data collection moves FSA towards economic regulation
10 May 2011
Aifa attacks FSA’s proposals on data collection.
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Equilibrium launches model portfolio service
25 May 2011
Service will be available to Nucleus IFAs first.
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Equity Trust loses court battle over Qrops status
23 May 2011
Investors in Panthera ROSIIP scheme face 50 per cent charge, but firm says it will appeal.
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ETF Securities - ETFS Physical Aluminium
13 May 2011
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ETF Securities - ETFS Physical Lead
13 May 2011
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ETF Securities - ETFS Physical Zinc
13 May 2011
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Ex-OBR member doubts deficit targets will be met
13 May 2011
Former fiscal watchdog member questions whether Government is on track to meet growth and deficit reduction targets.
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Fidelity International - China Consumer Fund
19 May 2011
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Fidelity says new IMA sector labels are bad news for consumers
27 May 2011
Fund house says the new labels are more complex than the existing ones.
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First-time buyers fear they will never own a home
31 May 2011
Two-thirds think they will never own a home despite 77% saying they still aspire to homeownership.http://cms.moneymarketing.co.uk/cms/commentEdit.aspx?label=comment&id=42347&KeepThis=true&modal=true&TB_iframe=true&width=650&height=500#
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FNZ to power Close Asset Management platforms
9 May 2011
CAM has linked up with FNZ to power its new direct to consumer and retail platforms.
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FOS attacks banks handling of investment complaints
18 May 2011
The FOS says financial services firms are fighting complaints more aggressively despite there being clear evidence of misselling.
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FOS limit increased to £150,000
27 May 2011
FSA also confirms new complaint handling rules.
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Four convicted of mortgage frauds worth over £1m
9 May 2011
Four, from Yorkshire, given suspended sentences and community orders.
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Fred Goodwin super-injunction details raised in Lords
19 May 2011
Lord Stoneham used parliamentary privilege to discuss details of Goodwin’s super injunction.
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Fresh approach for James Hay parent company
23 May 2011
Reports suggest private equity firm Fiordland has expressed an interest in buying the company.
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Friends Life reveals corporate pensions sales boost
10 May 2011
Total sales increase from £178m to £270m as group corporate pension new business rises 71 per cent.
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Friends new business up by 51 pc in Q1
10 May 2011
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FSA advisory panel calls on regulator to delay MMR
1 Jun 2011
FSCP says regulation should stop reckless lending but not stop people from borrowing.
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FSA bans ActivTrades ex-compliance officer
17 May 2011
ActivTrades’ former compliance officer banned and fined £3,000 after firm was fined £85,000 for breaching client money rules.
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FSA censures BDO LLP for sponsor failings
1 Jun 2011
BDO failed to liaise with the UK Listing Authority over a proposed merger.
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FSA delays platform paper until Q3
1 Jun 2011
Providers are kept waiting as FSA digests consultation responses.
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FSA execs share £880,000 redundancy payments since crash
31 May 2011
No FSA executives or directors have been made redundant on grounds of capability or conduct since July 2007.
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FSA extends consumer protection rules to include GPPs
27 May 2011
Regulator says decision will protect GPP members against “poor” opt-out advice ahead of automatic enrolment reforms.
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FSA fines Bank of Scotland £3.5m for complaint mishandling
25 May 2011
Bank to pay up to £17m in compensation for mishandling of investment complaints.
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FSA granted High Court injunction to prevent market abuse
24 May 2011
The regulator has also fined Samuel Kahn £1m.
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FSA issues warning over Connaught funds
27 May 2011
FSA says way funds advertised could be misleading to investors.
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FSA notice lays bare Bank of Scotland's investment advice failings
25 May 2011
Advice failings centre on a risk profiling tool used by the bank which classified these clients as having a cautious approach to risk.
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FSA probes Keydata advisers
12 May 2011
Regulator writes to Keydata distributors as part of supervisory investigation.
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FSA publishes adviser Tribunal cases
12 May 2011
FSA published first decision notices for enforcement that have been refered to Tribunal.
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FSA reveals how it will police adviser charging
10 May 2011
Retail investment advisers will have to detail their adviser charging model as part of their regulatory return.
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FSA set to increase cap-ad requirement for Sipp firms
1 Jun 2011
The FSA is preparing to increase the capital adequacy requirement for Sipp providers in a bid to protect investors as the products become more popular in the mass market.
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FSA warns against dealing with mortgage brokerage
9 May 2011
FSA says Munir Mughal, trading as Mortgage Bureau (UK) Hayes, is unauthorised.
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FTSE 100 companies to stick with existing schemes for auto-enrolment
16 May 2011
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Fundamental offers energy with a slant on service
5 May 2011
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Furness Building Society - 3-Year 0.45% Discount
10 May 2011
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Furness Building Society - 3-Year 2.15% Discount Remortgage - No Fee Intermediary
10 May 2011
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Gilliat Financial Solutions – Annual Kick Out June 2011
6 May 2011
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Gilliat Financial Solutions - Income Builder June 2011
6 May 2011
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Gilliat Financial Solutions - UK Growth Multiplier June 2011
23 May 2011
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Gilliat Financial Solutions - UK Growth Multiplier June 2011
23 May 2011
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Goldman Sachs economist given go-ahead for MPC
17 May 2011
Ben Broadbent given go-ahead for MPC role and Donald Kohn gets the nod for FPC.
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Goodwin affair did not compromise RBS, say reports
24 May 2011
Internal investigation finds employee was not involved in key decision making.
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Google launches US advice service
20 May 2011
Search engine moves into advice space in the US with dedicated website allowing investors to compare financial offers from a range of providers.
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Government to abolish tax relief on pensions compensation
1 Jun 2011
Treasury tables proposals to scrap tax relief on pensions mis-selling compensation in Finance Bill 2012.
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Gov't confirms abolition of contracting-out for DC schemes
19 May 2011
Impact assessment reveals £51bn switch from private pensions to state pensions.
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Govt must listen to 'wise advice' from OECD, says Balls
26 May 2011
Shadow Chancellor Ed Balls says Govt should heed advice to slow austerity drive if growth does not improve.
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Govt to apply 3 year regulation moratorium to financial restructure
10 May 2011
Treasury financial secretary Mark Hoban said Govt aims to apply moratorium to FSA but regulator will have last word on applying it.
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Greek bailout under review
9 May 2011
The terms of Greece’s bailout package are under review after it was determined that the current repayment conditions are unrealistic.
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Gross lending falls 14% in April
20 May 2011
Gross lending down to £9.8bn from £11.4bn in March.
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Guilty verdict in biggest ever hedge fund insider trading case
11 May 2011
Galleon Group founder Raj Rajaratnam found guilty of all 14 charges.
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Hanley Economic Building Society - 2-Year 4.29% Discount Remortgage - Direct
17 May 2011
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Hargreaves Lansdown pair in Sunday Times Rich List top 100
9 May 2011
Peter Hargreaves worth over £1bn and ranked 65th in this year’s list.
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Hazel Capital - Hazel Renewable Energy VCT 1 and VCT 2 update
27 May 2011
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Heath Lambert launches direct to consumer annuity service
26 May 2011
Firm teams up with Partnership on simplified, online underwriting service.
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Helm Godfrey acquires Truestone employee benefits business
1 Jun 2011
Firm says turnover for combined business will rise to over £7m.
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Helping you sell your advice
11 May 2011
Julie Minett of the Money Marketing Academy shares some tips on selling yourself to your clients.
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Henderson Eurotrust switches stocks and gears up
25 May 2011
The Henderson Eurotrust has geared up its portfolio and bought and sold a number of stocks over the three months to the end of April.
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High yield allure for Thames River
13 May 2011
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HML launches PPI complaints handling service
23 May 2011
New service offers PPI redress advice or total management of complaint handling.
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HML to axe 113 jobs
12 May 2011
Job cuts come as part of cost cutting measures, which will see closure of Padiham office.
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Hoban rejects FSA's call to force mutuals to 'stick to knitting'
11 May 2011
Treasury financial secretary Mark Hoban rejects call from FSA chairman Lord Turner to reverse mutual liberalisation.
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House prices down 3.7% year-on-year in April
9 May 2011
Average price now stands at £160,395, says Halifax.
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House prices up 0.3% in May
27 May 2011
But prices fall 1.2% on an annual basis.
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House prices up 0.8% in April
31 May 2011
Prices fell by 1.3% on annual basis.
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HSBC profits fall 14 per cent
9 May 2011
HSBC profits drop to £3bn for Q1 as bank announces £269m provision for PPI redress.
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HSBC to cut costs by up to £2bn
11 May 2011
Bank not looking to make cuts to its UK operations.
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ICB ringfence 'doomed to failure', says TSC member
25 May 2011
TSC member Andrea Leadom says ICB’s interim proposal of ringfencing retail and investment banking seems doomed to fail.
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IFA FOS complaints fall again- 1.5% share
18 May 2011
IFAs accounted for just 1.5 per cent of all FOS complaints in 2010/11 with a large number of claims relating to one business.
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IFAs could become ‘collateral damage’ in European power shift
23 May 2011
Aifa director general Stephen Gay says trade body has substantial funding gap if it wants to influence at domestic and European level.
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Ignis Asset Management/Argonaut Capital Partners - Ignis Argonaut European Alpha Fund update
27 May 2011
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IM Asset Management - CF IM Bond Fund
23 May 2011
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IMA to change managed sectors labels to letters
26 May 2011
IMA plans to rename the Active, Balanced and Cautious Managed sectors Managed A, B and C and create a new Managed D peer group for the least risky managed funds.
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IMA wants advisers to look behind the managed sector labels
31 May 2011
IMA chief executive Richard Saunders explains how the new proposed sector names were created and how they can help advisers and consumers.
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IMF chief denies sexual assault charges
16 May 2011
Dominique Strauss-Kahn is unlikely to be able to claim diplomatic immunity.
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IMF leader should be from developing nation, say Brics
25 May 2011
Brics countries express concern at statements saying role should stay in European hands.
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Incapital Europe - Capital Accumulator Kick Out Plan Dual Index Series XV
6 May 2011
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Incapital Europe – Capital Accumulator Kick-Out Plan - Greater China Series III
6 May 2011
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Incapital kicks out from Greater China
19 May 2011
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Industrial strength from ETF Securities
27 May 2011
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Intermediaries account for 63% of FTB mortgages in Q1
31 May 2011
Intermediaries also account for 60% of remortgage loans and 53% of home mover loans.
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Investec offers income plan in two versions
5 May 2011
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Jeremy Lang: UK banks are bust
16 May 2011
Manager of the Ardevora UK Equity Income fund has no holdings in British banks, is avoiding BP, BT and Vodafone and describes the retail sector as “toxic”.
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JOHCM confirms June launch for GEM opps fund
26 May 2011
JOHCM has confirmed it will launch a new global emerging markets Opportunities fund for James Syme and Paul Wimborne in June.
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JOHCM introduces 0.5% charge to stem flow into UK equity income fund
4 May 2011
JO Hambro Capital Managment has decided to introduce a 0.5% charge for new investments from existing investors in its JOHCM UK equity income fund.
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Jon Garland quite Ignis for Ardevora role
18 May 2011
Garland follows former Ignis head of marketing Rob Page to join ex-Liontrust managers Jeremy Lang and William Pattisson.
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Jon Garland to leave Ignis
11 May 2011
Jon Garland, the head of discretionary sales at Ignis, is to leave the group to “pursue his career elsewhere”.
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Jonathan Armitage to leave Schroders
11 May 2011
Jonathan Armitage is stepping down as the head of American large cap equities at Schroders to move to Australia.
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JP Morgan warns adviser charging could lead to products push
16 May 2011
Report says move to adviser charging could lead to firms encouraging more sales to avoid VAT.
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Jubilee Financial Products - Regular Income Plan Issue Eight
26 May 2011
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Jubilee links to housing
13 May 2011
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Just Retirement launches new type of fixed-term annuity
25 May 2011
Provider is launching a fixed-term annuity product that will allow investors to switch to an enhanced annuity if they become ill during the term of the contract.
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Kensington launches exclusive 90% LTV deals through L&G
9 May 2011
Rates start from 5.79%.
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King: Energy prices could push inflation to 5%
11 May 2011
BoE governor Mervyn King says squeeze on household incomes could hit recovery as Bank downgrades growth forecast for 2011.
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Labour calls on Clegg to show LibDem muscle over state pension age
11 May 2011
Shadow pensions minister Ravel Reeves has challenged Lib Dem leader Clegg to show new “muscular approach” to coalition.
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Labour claims credit for pensioner income increase
13 May 2011
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Labour slow to move to balanced economy, says Denham
26 May 2011
Shadow Business Secretary John Denham says coalition policy is reducing its influence on shape of economy.
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Largemortgageloans.com hires Mike Perrin as head of sales
16 May 2011
Perrin was formerly a director at Savills Private Finance.
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Leeds BS appoints Robin Ashton as non-exec director
10 May 2011
He is a chartered accountant with 25 years experience in financial services.
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Legal & General - FTSE Growth Plan 10
5 May 2011
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Legal & General - Six-Year Growth Deposit Bond 7
5 May 2011
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Legal & General - UK Fixed Income Plan 2
5 May 2011
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Legal & General - UK Growth Early Kick Out Plan 8
5 May 2011
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Lifemark granted extra six months for rescue bid
13 May 2011
Administrator given another six months to resolve Lifemark liquidity issues.
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Lindsell Train boards global equity
19 May 2011
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Lloyds pulls out from PPI legal action
5 May 2011
Lloyds’ withdrawal from BBA judicial review follows £3.2bn provision for PPI redress.
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Lloyds reports £3.4bn loss after making PPI provision
5 May 2011
Lloyds Banking Group have posted a £3.4bn loss after putting aside £3.2bn to cover PPI misselling claims.
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Lorica name change adds employee benefits
20 May 2011
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Macro hedging to the rescue at Thames River
5 May 2011
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Majority of FTBs support tighter mortgage regulation
26 May 2011
79% think lenders were irresponsible before crisis.
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Management team completes MBO of Skipton-owned IFA
1 Jun 2011
IFA Thomson Shepherd changes name to Carbon Financial Partners following management buyout.
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Manchester Building Society - 5-Year 4.74% Fixed Remortgage
17 May 2011
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Mansfield Building Society - 2-Year 3.09% Fixed - Direct
17 May 2011
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Mergers proposed for two F&C funds
31 May 2011
F&C Thames River has unveiled plans to merge two UK equity funds into larger products.
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Mike Godfrey launches new advice firm
24 May 2011
Ex-Bluefin man has co-founded Cube Financial Planning.
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'Monetary policy levers futile against recent inflation shocks'
24 May 2011
MPC member Paul Fisher says putting base rate up would be “wrong” at present moment.
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Money Marketing wins 4 awards including trade title of the year
12 May 2011
Money Marketing won personal finance trade title of the year at last night’s Headlinemoney awards with MM journalists scooping another three awards.
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Moody’s reviews 14 UK lenders for possible downgrades
24 May 2011
Review triggered by concerns UK Government is less likely to bail-out troubled lenders in future.
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Moody's puts Japan on review for downgrade
31 May 2011
Japan’s Aa2 local and foreign currency bond ratings have been placed on review for a possible downgrade by Moody’s Investors Service.
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Morgan Stanley IQ - FTSE Defensive Digital Growth Plan 4
9 May 2011
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Morgan Stanley IQ - FTSE Kick Out Growth Plan 11
9 May 2011
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Morgan Stanley IQ - Protected Growth Plan 41
9 May 2011
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Morningstar integrates FinaMetrica risk tolerance tests
10 May 2011
Firm says advisers can move seamlessly from tolerance questionnaire to asset allocation model.
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Mortgage Trust launches new buy-to-let range
31 May 2011
Rates start from 4.3%.
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MPC member Dale presses for immediate rate rise
23 May 2011
Bank of England chief economist warns of economic dangers of letting inflation persist.
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MPC remains split over base rate increase
18 May 2011
Six members voted to keep base rate at 0.5%, while three voted for increase.
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MPs announce scope of RBS report review
25 May 2011
Review must judge whether report is a fair and balanced summary of RBS and FSA failings.
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MPs back David Laws suspension over expenses
16 May 2011
MPs have backed a Parliamentary committee’s call for Lib Dem David Laws to be suspended for 7 days over expenses.
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MPs call for public sector pension cost benchmark
26 May 2011
Government needs formal benchmark instead of defining affordability on the basis of public perception, says Govt spending watchdog.
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MPs reject bill to cap regulatory fee increases
13 May 2011
MPs reject bill which would have limited regulatory fee increases to the rate of CPI inflation.
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Multi-manager alternatives from City Asset Management
27 May 2011
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N&P returns to buy-to-let sector
12 May 2011
Building society pulled out of sector in June 2009.
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NAPF renews call for single regulator for pensions
11 May 2011
Pensions lobbying organisation says regulatory responsibility for GPPs and stakeholder pensions should shift from the FSA to the Pensions Regulator.
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National Audit Office attacks Government's mortgage rescue scheme
25 May 2011
Report says scheme did not offer value for money.
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Nationwide advances £12.8bn to homeowners in past year
25 May 2011
Lender says 23% of new borrowers were first-time buyers in past year.
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Nationwide cuts trackers by 0.2%
16 May 2011
Three-year low fee products and no fee further advance products exempt from reductions.
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New Schroders trust to keep discount close to zero
1 Jun 2011
The new Schroder opus commodity investment trust is to keep the discount at which its shares trade close to zero as controversy continues over how trusts should control their discounts.
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Newbury Building Society – Fixed Rate Until June 1, 2016
23 May 2011
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Northern Rock - 2-Year Freedom to Fix Tracker - Purchase
19 May 2011
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Northern Rock cuts rates by up to 0.5%
27 May 2011
Lender has also cut a number of buy-to-let products.
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Northern Rock launches Freedom to Fix tracker
16 May 2011
New tracker allows customers to switch to fix without early repayment charges.
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Norwich & Peterborough Building Society – Buy-To-Let 2-Year 0.5% Discount
26 May 2011
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Norwich & Peterborough Building Society – Buy-To-Let 2-Year 5.2% Fixed
26 May 2011
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Norwich & Peterborough Building Society – Buy-To-Let 3-Year 5.90% Fixed
26 May 2011
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NS&I relaunches index-linked savings certificates
12 May 2011
Five year savings certificates will pay RPI plus 0.5 per cent.
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Nucleus appoints communications manager
5 May 2011
Breslin previously worked as Standard Life communications consultant.
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Nucleus increases AUA to £2.6bn in Q1
16 May 2011
1,100 advisers now using the Nucleus platform.
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OFT: Dominance of big four auditors hitting competition
17 May 2011
The OFT says concerns are enough to bring in Competition Commission.
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One quarter of advisers changed platform in 2010
10 May 2011
Defaqto survey says over half of those who changed cite quality of service as main reason.
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Paragon reports 34.8% increase in pre-tax profits
24 May 2011
Lender reports £39.5m pre-tax profit in first half of 2011, compared to £29.3m same time last year.
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Parliamentary report calls for David Laws suspension
12 May 2011
A Parliamentary standards report says Laws was guilty of ’series of serious beaches over a considerable time’.
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Parmenion appoints Macquarie's Sarah Jezard
1 Jun 2011
Sarah Jezard will take up head of marketing role.
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Paul Myners joins Cevian Capital
31 May 2011
Paul Myners joins Cevian Capital as a partner and chairman of its UK operations.
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Pensions auto-enrolment hope for group life - Grid
6 May 2011
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Pensions end-game data cleansing cutting costs by 5 pc
6 May 2011
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Pica: OMO changes could generate extra £7bn
24 May 2011
Pica says reform could be in place within the year.
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PIMS 2011: Call for FSA to push HMRC on VAT guidance
20 May 2011
Ideas Lab director Roderic Rennison says regulator needs to force issue of when advice is VAT-able with HMRC.
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PIMS 2011: FSA concerned over RDR transition risks
20 May 2011
Regulator has told advisers it is concerned over the risk management practices of firms who transition too quickly towards RDR.
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Platform growth stagnant in Q1
5 May 2011
Consultancy predicts a new generation of wraps focused on cost rather than service.
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PPF to include scheme investment risk in levy calculation
16 May 2011
Lifeboat fund confirms details of new levy calculation, which will come into force from 2012/13.
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PPI claims on banks could hit £10bn
6 May 2011
The banks involved in the mis-selling of payment protection insurance could face as much as £10bn in claims.
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Precise Mortgages enters short-term lending market
19 May 2011
Launch date to be announced next week.
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Precise Mortgages reveals short-term lending products
23 May 2011
Lender launches with three short-term products.
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Premier Retirement Services launches annuity comparison service
17 May 2011
PRS links with Moneyfacts.co.uk to launch online annuity product comparison tool.
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Property developer found guilty of £1.3m fraud
24 May 2011
Shaun Kiely auctioned unprofitable shops as viable business opportunities.
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Property giants looking at Paif status
11 May 2011
Britain’s biggest property managers are brainstorming the possibility of converting their existing portfolios into property authorised investment funds.
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Property supply increases in April, say surveyors
10 May 2011
Surveyors expect house prices to increase over next three months.
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Provider urges Gov't to relax 'in-specie' transfer rules
1 Jun 2011
Friends Life says allowing non-monetary assets to be transferred into a Sipp could help “ignite” long-term savings.
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Pru annuity sales hit after Zurich abandons single-tie deal
12 May 2011
The Pru’s external annuity sales fell 42 per cent in Q1 after Zurich ditched agreement in favour of Legal & General.
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Pru International revamps Prudence
13 May 2011
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Pru profits up 17% to £498m
11 May 2011
Insurer’s group new business profits have climbed, but UK new business has fallen slightly.
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Prudential International – International Prudence Bond update
5 May 2011
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RBS sets aside £850m for PPI redress
10 May 2011
Total bank provisions for PPI now total £5.3bn.
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RBS warns PPI losses could be 'material'
6 May 2011
Pre-tax loss for RBS widens to £116m in Q1 of 2011.
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Regulator concerned over investors exploiting pensions loophole
13 May 2011
The Pensions Regulator has concerns over private equity investors who force firms into administration to shed pension liabilities, the FT reports.
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Remortgage activity rebounds in first quarter
13 May 2011
CML says it is linked to expectations of rise in interest rates.
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Repossessions up 15% in Q1
12 May 2011
Repossessions increase from 7,900 to 9,100 between Q4 2010 and Q1 2011.
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Restructure euro banks before countries, BlackRock urges
31 May 2011
The eurozone must restructure its banks before dealing with its financially struggling countries, as the banks hold much of the countries’ debts, the head of BlackRock has said.
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Richard Lambert turns back on Bank of England role
13 May 2011
Sir Richard Lambert has decided not to take up his post on the BoE’s Financial Policy Committee.
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RLAM explores ethical equities
27 May 2011
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Royal Liver members approve Royal London takeover
12 May 2011
FSA expected to approve the deal, with assets and liabilities due to be transferred on July 1.
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Royal London 360° consults the Oracle
20 May 2011
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Royal London 360° - Oracle
12 May 2011
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Royal London Asset Management - UK Ethical Equity Fund
12 May 2011
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RPS exits sale and rent-back sector
16 May 2011
Parent company conducts strategic review following managing director and head of operations’ resignation.
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RSM Tenon appoints John Porteous
31 May 2011
Macquarie’s John Porteous joins to develop the firm’s platform proposition.
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S&P downgrades BlackRock fund in Japan review
25 May 2011
The BlackRock Japan value fund was the only Japanese equity fund to be downgraded by Standard and Poor’s in May, following their latest Japanese sector review.
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S&P warns of buy-to-let negative equity risk
11 May 2011
Ratings agency predicts almost a third of buy-to-let homes could be in negative equity by end of 2012.
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Santander issues £3.75bn securitisation
19 May 2011
Deal is largest publicly placed RMBS issue in UK since 2007.
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Sants - UK regulatory system could become local police force for EU
31 May 2011
Leading regulatory figures fear the UK will lose autonomy to Europe and may end up becoming more of a local police force.
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Sants: FSA was not supported by public or Parliament
19 May 2011
PRA chief executive designate says new regulator must win support.
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Schroders - Schroder International Selection Fund European Equity Focus
12 May 2011
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Schroders hires Kate Jones as head of investment services
16 May 2011
Jones tasked with developing its global investment operating platform.
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Schroders reports £103.8m pre-tax profits in Q1
5 May 2011
Schroders has announced pre-tax profits of £103.8m in the first quarter of 2011.
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Schroders represents best European ideas
19 May 2011
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Scottish Widows - Capital Protected Fund 19
12 May 2011
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Sentance: Bank of England in danger of losing credibility
1 Jun 2011
Former MPC member has warned that if inflation does not come down in the way the BoE suggests it could impact on its credibility with the UK public.
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Sir David Walker to rule on RBS report
5 May 2011
Ex-banker expected to be announced as arbiter in stand off over FSA’s RBS report.
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Skandia - Skandia Investment Solutions Platform update
5 May 2011
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Skipton BS appoints Mike Ellis as chairman
24 May 2011
Ellis replaces Alastair Findlay, who is stepping down from the board after five years.
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Skipton BS launches new buy-to-let range up to 70% LTV
10 May 2011
Products available direct-only through society’s telephone service.
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Skipton BS launches two new buy-to-let trackers
1 Jun 2011
Rates start from base rate plus 2.74%.
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Skipton Building Society - 2-Year Fixed
12 May 2011
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SLI confirms launch of Gars bond fund
10 May 2011
Standard Life Investments has confirmed it is launching a new version of its hugely popular Global Absolute Return Strategies fund which will invest in the global bond markets.
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Standard Life appoints new platform chief
11 May 2011
Divito replaces Steven Sands who takes up business development director role.
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Standard Life suspends former corporate MD O'Neill and Vebnet director Verner
16 May 2011
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Standard Life to scrap face-to-face client service
10 May 2011
Provider says decision will result in a net role reduction of 36.
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Steve Webb warns on incentives to transfer out of DB
23 May 2011
Pensions minister says ’superficially attractive’ deals could leave people out of pocket.
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Stewart Ford secures FSA judicial review over Keydata
13 May 2011
Keydata founder granted a judicial review at London’s High Court over the way the FSA investigated Keydata.
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Strong presence from L&G
13 May 2011
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Swiss Re acquires 300,000 Alico policies
1 Jun 2011
Admin Re takes on £1.6bn of assets under the deal.
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Teachers BS returns to intermediary market
27 May 2011
Building society says it is using intermediaries to grow its customer base.
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The danger of rushing pension reforms
12 May 2011
The speed with which the new drawdown rules have been implemented has placed an unnecessary strain on resources.
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The four reforms that really matter for government - Michael Johnson
20 May 2011
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Threadneedle applies absolute return to Euro small caps
13 May 2011
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Threesixy director David Brattesani leaves firm
6 May 2011
Brattesani to pursue interests outside financial services.
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Tim Russell to leave Cazenove
6 May 2011
Head of pan-European equities and manager of the group’s UK absolute target fund will leave in July.
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Tiuta pulls out of regulated mortgage business
26 May 2011
Short-term lender now solely focused on professional bridging loans.
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Treasury begins AIG sell off
25 May 2011
The US Treasury sold off part of its stake in American International Group yesterday as it attempts to return the insurer to independence and reclaim the 2008 bailout money.
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Treasury on lookout for tax body chiefs
1 Jun 2011
Government has invited applications for a permanent chair and tax director to lead the Office of Tax Simplification.
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TSC member calls for clarity over Goldman Sachs tax deal
16 May 2011
Labour MP Chuka Umunna wants HMRC to release information on tax settlement which ’saved bank’ £10.8m.
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TSC's Chuka Umunna becomes Shadow business minister
24 May 2011
Umunna will focus on deregulation and better regulation and matters around small businesses and access to finance.
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UK economic growth confirmed at 0.5 per cent
25 May 2011
The Office for National Statistics has made no revision to its estimate of the UK’s GDP growth in the first quarter of the year,
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UK faces £9trn savings deficit
9 May 2011
CII says the financial services sector must “embrace reforms” as the UK tackles a £9trn savings gap.
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UK inflation rises to 4.5% in April
17 May 2011
Inflation up from 4 per cent in March.
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US unemployment rises despite job creation
6 May 2011
US unemployment rate increased last month even though there was a rise in the number of people finding work, new government figures show.
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Virgin targets 600 Lloyds bank branches
26 May 2011
Richard Branson’s Virgin Money is set to bid for around 600 of Lloyds bank branches.
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Walker and Knight to review FSA's RBS report
5 May 2011
TSC announce Sir David Walker and Bill Knight will review RBS report delayed over legal wrangling.
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West Brom reports £13.1m pre-tax loss
26 May 2011
Loss is improvement on £18.5m pre-tax loss the year before.
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Witan chief urges Alliance Trust to cut discounts
9 May 2011
Alliance Trust, the UK’s largest investment trust, should cut the discount at which its shares trade in the stockmarket, the head of one of its biggest rivals has said.
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Woolwich slashes Bovis new build mortgage by 1.2%
24 May 2011
Rate cut from 4.99% to 3.79%.
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Worldwide Financial Planning MD McGahan charged with rape
19 May 2011
Devon and Cornwall police spokesman confirms McGahan will appear before magistrates in Truro on June 16.
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Yorkshire BS launches two new drop-lock mortgages
3 Jun 2011
Customers can switch from tracker to fixed rate without penalty.
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Yorkshire BS signals interest in Northern Rock
6 May 2011
YBS chief exec Iain Cornish calls for state-backed bank to be remutualised.
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Zurich Bank International - Zurich Equity Linked Growth Account 7
9 May 2011
