Money Marketing
Online - October 2011

Barings appoints head of Latin American equities

10 Oct 2011

Baring Asset Management has appointed Michael Simpson as head of Latin American equities.
NatWest Intermediary Solutions - Corporate Range 2-Year Fixed Remortgage

31 Oct 2011
UK unemployment hits 17-year high

12 Oct 2011

Unemployment hits 2.57 million.
9/10 for Merchant Capital plan

12 Oct 2011
Aberdeen hires business development manager for £10bn range

26 Oct 2011

Aidan Upton joins from Architas.
ABI to restructure ahead of 'twin peaks' regulation

14 Oct 2011

Insurance industry trade body will split into two divisions as it prepares for the new ’twin peaks’ regulatory regime in 2013.
ABI wants ban on tracker funds investing in new listings

31 Oct 2011

Calls to prevent newly listed firms joining the FTSE 100 until after a three-month cooling-off period.
Advisers must improve their dialogue with clients

10 Oct 2011

Rob Reid says communication with clients will become a major barrier to profitability in a post-RDR world.
Aegon distribution chief Iain Black quits

19 Oct 2011

Iain Black left Aegon at the end of September as chairman of distribution Patrick Gale takes over his duties.
Aegon: Dismissing AMDs could harm consumers

28 Oct 2011

Provider says The Pensions Regulator’s tough stance on active member discounts risks damaging the private sector and could lead to members receiving less money at retirement.
Aegon's Paul McMahon takes up 7IM non-exec director role

27 Oct 2011

Aegon UK group marketing director Paul McMahon joins the 7IM board as a replacement for Iain Black.
Aifa warns FSA fee move punishes successful firms

28 Oct 2011

Director general Stephen Gay argues basing fees on income rather than headcount will punish profitable businesses.
Allan Rosengren retires from Lighthouse Group

4 Oct 2011

Rosengren founded Falcon Group in 1983.
Allfunds Bank appoints head of sales for UK and Ireland

5 Oct 2011

Allfunds Bank has appointed Laurie Jaques as head of sales development UK & Ireland.
AMI promises to take up fake PPI claims with FOS

24 Oct 2011

AMI is asking brokers to send it fictitious PPI claims they receive from claims firms so it can give them to the FOS.
Amps names Andrew Roberts as chairman

13 Oct 2011

The Sipp and Ssas provider trade body has elected Barnett Waddingham partner Andrew Roberts as its new chairman.
Anello Asset Management – AAM ISIS FX Programme update

24 Oct 2011
Argonaut appoints Greg Bennett as investment manager

19 Oct 2011

Argonaut Capital Partners has continued its hiring programme with the appointment of Greg Bennett to the investment team.
Artemis Investment Management - European Opportunities Fund

31 Oct 2011
Artemis Investment Management - Global Select Fund

31 Oct 2011
ASA raps SpicerHaart again for misleading ad

5 Oct 2011

The Advertising Standards Authority has banned another advertisement from the SpicerHaart Group, trading as Darlows.
Aviva – Critical Illness Insurance Update

18 Oct 2011
Axa Elevate to waive platform charge on Architas funds

3 Oct 2011

Axa is to waive the platform charge for those who invest in Architas funds through its Elevate platform before the end of 2011.
Axa Wealth links with Pointon York for Sipp offering

28 Oct 2011

Axa Wealth says the partnership will allow advisers to access increased Sipp expertise while remaining close to the provider’s platform.
B&CE to launch Nest rival

10 Oct 2011

The workplace pension provider for the construction industry plans to launch a low-cost scheme which will be available to employees in all sectors.
B2L will not come under EU regulation, says CML

10 Oct 2011

The CML says amendments being added to the European Commission’s mortgage directive would exempt buy-to-let.
Banks’ gross mortgage lending up 7% year-on-year

25 Oct 2011

The banks’ gross mortgage lending totalled £8.4bn in September 2011, up 7% on September 2010.
Barclays profits up 19% year-on-year

31 Oct 2011

Bank says it has reduced exposure to troubled eurozone nations by 31%.
Barings appoints John Burns as COO

17 Oct 2011

Burns replaces the retiring John Misselbrook
BlackRock corporate bond fund manager quits

11 Oct 2011

BlackRock head of sterling portfolios for fundamental fixed income Paul Shuttleworth has quit the firm after 11 years.
Blackrock endorses calls for tougher rules on ETFs

5 Oct 2011

iShares owner has called for regulatory action on ETFs to make the sector more transparent.
BlackRock to launch best ideas fund

20 Oct 2011

BlackRock confirms UK best ideas launch.
BoE governor fears “worst ever” financial crisis

7 Oct 2011

Meryn King says this may be the worst financial crisis “ever” and also hints that inflation could hit 5% next month.
BoE increases QE by £75bn

6 Oct 2011

QE increased by £75bn to £275bn.
BoE's Haldane: Basel III does not go far enough

25 Oct 2011

MPC’s Martin Weale says British economy may already be contracting.
Boiler room fraudsters sentenced to 40 years

5 Oct 2011

Seven men face a total of 40 years imprisonment after £8m bio-diesel investment fraud.
Bramdean confirms D2C platform launch

31 Oct 2011

Bees and Honey to launch by the middle of next year.
Brian Gallagher leaves UBS

12 Oct 2011

Brian Gallagher, the manager of the UBS UK equity income fund has left the group to pursue other opportunities.
Business group calls for more QE and “radical methods”

3 Oct 2011

The BoE needs to launch further quantitative easing as well use “radical methods” to bolster growth, says BCC.
CA Summit - Boardrooms at loggerheads over auto enrolment implementation

17 Oct 2011
CA Summit - Corporate wraps face member eligibility challenges

17 Oct 2011
CA Summit - Deductions from premiums for consultancy charges fall from favour

14 Oct 2011
CA Summit - Default funds ripe for overhaul

17 Oct 2011
CA Summit - OECD predicts big opt-outs under auto-enrolment

13 Oct 2011
CA Summit - Pickering leads pension reform criticisms

14 Oct 2011
CA Summit - TPR says software providers should meet auto-enrolment challenge

17 Oct 2011
CA Summit - TUC's Carberry attacks government public sector pension reforms

14 Oct 2011
CA Summit - Webb warns advisers on consultancy charging abuses

14 Oct 2011
Cable: UK could slip back into recession

20 Oct 2011

Business Secretary said he could not promise the UK would not enter a double-dip recession.
Call for advisers to provide FTB brochures

4 Oct 2011

Sharon Bowles has called for advisers to provide first-time buyers with an obligatory brochure as part of the European mortgage directive.
Cambridge Building Society - Special Offer 3-Year Fixed Rate Mortgage

10 Oct 2011
Cambridge Building Society - Special Offer 3-Year Fixed Rate Mortgage

10 Oct 2011
Cambridge Building Society - Special Offer 3-Year Fixed Rate Mortgage

10 Oct 2011
Cambridge Building Society - Special Offer 3-Year Fixed Rate Mortgage

10 Oct 2011
Cambridge launches limited edition three-year fixes

24 Oct 2011
Cameron calls for UK safeguards in eurozone talks

4 Oct 2011

Prime Minister David Cameron has said that UK interests must be protected if eurozone countries begin to seek closer integration on the back of the European debt crisis.
Cameron: London under constant attack from EU regulations

28 Oct 2011

Cameron has slammed European Union regulators after claiming that the City of London is “under constant attack” from Brussels directives.
Cameron: Time running out for eurozone

10 Oct 2011

David Cameron has warned European leaders that they have only a matter of weeks to avert an economic disaster.
Canada Life - Flexible Investment Bond Special Offer

3 Oct 2011
Capita makes individual offers to Arch cru investors

28 Oct 2011

Investors have until December 2012 to accept the offer with payment made within six weeks of receipt by CFM.
Cardy steps up independent trade body plans

10 Oct 2011

Cardy is gauging opinion on whether advisers would support a trade body solely focused on IFAs.
Carmignac appoints country head for UK launch

10 Oct 2011

Carmignac Gestion has hired Matthew Wright as head of country for the UK, ahead of the opening of its London office next month.
Castle Trust plans December launch

10 Oct 2011

Launch date set for December 1, subject to FSA authorisation.
Castle Trust: The housing market isn't working

1 Nov 2011

Sean Oldfield calls for a national debate on the problems facing the housing market.
Chloe Smith becomes Treasury economic secretary

17 Oct 2011

29-year-old former assistant whip replaces Justine Greening.
CIO group set up to influence investment industry

11 Oct 2011

A CIO group called 300 Club has been set up to push for action on the fundamentals of the investment industry and investing.
Close Asset Management - Close Discretionary Funds: Close Managed Balanced

2 Nov 2011
Close Asset Management - Close Discretionary Funds: Close Managed Conservative

1 Dec 2011
Close Asset Management - Close Discretionary Funds: Close Managed Diversified Income

2 Nov 2011
Close Asset Management - Close Discretionary Funds: Close Managed Growth

2 Nov 2011
Close Asset Management - Close Discretionary Funds: Close Tactical Select Passive Balanced

2 Nov 2011
Close Asset Management - Close Discretionary Funds: Close Tactical Select Passive Conservative

2 Nov 2011
Close Asset Management - Close Discretionary Funds: Close Tactical Select Passive Growth

2 Nov 2011
Clydesdale Bank launches £829m buy-to-let RMBS

10 Oct 2011

Pool of loans made up of Clydesdale Bank buy-to-let mortgages.
Cofunds appoints Jim Clay as business development manager

17 Oct 2011

Cofunds has appointed Jim Clay as business development manager.
Consumer Panel calls for "fiduciary duty" on customer rights

20 Oct 2011

Financial Services Consumer Panel says there should be legislation requiring firms to put customer interests first.
Co-op Bank cuts fixed rates by up to 0.6%

12 Oct 2011

Five-year fix available at 4.49% up to 85% LTV.
Countrywide hires former Colleys surveying head

25 Oct 2011

Chapman to take up newly created role of head of field operations within surveying division.
Court upholds Paragon's action on £6.9m B2L debt

31 Oct 2011

Court finds in favour of Paragon for calling in loans before three months’ arrears outstanding.
Coventry BS issues €650m covered bond

19 Oct 2011

Building society issues €650m covered bond.
Coventry launches new residential and B2L deals

25 Oct 2011

New range includes fixed, tracker and capped products.
Credit Suisse cuts another 1,500 jobs

1 Nov 2011

Job cuts are on top of the 2,000 made in July.
Credit Suisse fine update: 44% of cases were unsuitably reviewed

25 Oct 2011

Credit Suisse internal report said management failed to use own internal evidencing tool in 44 per cent of cases.
Darling warns delay to auto-enrolment would be a "big mistake"

19 Oct 2011

Former Labour Chancellor Alistair Darling has warned the Government that delaying automatic enrolment would be a “big mistake”.
Darling: Osborne will be forced to revise Govt borrowing estimates

20 Oct 2011

Former Labour Chancellor Alistair Darling says George Osborne will be forced to increase estimates of Government borrowing in his autumn statement.
Defaqto on Slater Investments' MFM Slater Income Fund

13 Oct 2011
Dexia accepts £77bn state guarantee deal

10 Oct 2011

France, Belgium and Luxemburg have agreed a deal to split and shore up beleaguered bank Dexia with £77bn in state guarantees.
Dividends rise in the VCT sector

4 Oct 2011

Total dividends paid from VCTs during first six months this year are up on the first six months of last year, according to an AIC survey.
EC raids banks in interbank lending rates probe

19 Oct 2011

EU says banks may have broken antitrust rules.
Equitable action group claims Treasury refused policyholder database

18 Oct 2011

The Equitable Members Action Group says Treasury cited data protection issues.
Equity release advances up 12% in Q3

18 Oct 2011

Intermediaries account for 88% of all equity release sales.
EU ministers look at measures to protect banks

5 Oct 2011

EU ministers are considering a number of bank aid plans amid growing concerns.
EU sets two-week deadline to tackle debt crisis

11 Oct 2011

European Union leaders have set a two-week deadline to agree how to resolve the eurozone debt crisis.
Eurozone crisis to constrain mortgage lending for a year

3 Oct 2011

The crisis in the eurozone is likely to restrain mortgage lending for the next year, according to Capital Economics.
Ex-FSA director Waters heads new trade body

10 Oct 2011

ICI Global will represent global investment funds and their managers.
Ex-Gartmore chief Pursglove joins Goldman Sachs

17 Oct 2011

Richard Pursglove has joined Goldman Sachs Asset Management to head up its UK third party distribution business.
F&C chief exec Alain Grisay to retire

6 Oct 2011

Grisay to step down from the board and as group CEO in May 2012.
F&C Lees: QE is like a "shot of heroin to a drug addict"

11 Oct 2011

F&C’s head of UK equities Peter Lees has referred to the latest round of quantitative easing as a “short-term fix”.
F&C sees AUM shrink in third quarter

25 Oct 2011

Difficult market conditions continue to plague asset managers.
Fees rise for retail investors, says Lipper

10 Oct 2011

During the past ten years, more than 150 funds have hiked their annual management fees, according to the latest research by fund data provider Lipper.
Fidelity appoints new head for growing direct business

13 Oct 2011

Mark Till joins the firm from Standard Life direct.
Fidelity Worldwide Investment - Multi Asset Allocator Balanced

1 Nov 2011
Fidelity Worldwide Investment - Multi Asset Allocator Defensive

1 Nov 2011
Fidelity Worldwide Investment - Multi Asset Allocator Growth

1 Nov 2011
First State appoints Richard Wastcoat as non-exec

10 Oct 2011

Former Fidelity chief joins the firm as the first non-exec director
Fitch downgrades Lloyds and RBS

13 Oct 2011

Fitch Ratings has downgraded Lloyds Banking Group and Royal Bank of Scotland to “A”.
Ford wins judicial review against FSA

11 Oct 2011

Mr Justice Burnett has ruled that legally privileged emails used in the FSA’s investigation into Keydata cannot be used.
FOS upholds 92% of PPI complaints

18 Oct 2011

Proportion of PPI complaints upheld by the FOS has gone from 55 per cent to 92 per cent over the last quarter.
Four charged with £5m pension fraud

31 Oct 2011

Four people have been charged with conspiracy to cheat the revenue after being summonsed to appear at Birmingham Magistrates Court today.
Franklin Templeton maintains emerging markets balance

7 Oct 2011
Friends Life unveils individual protection range

24 Oct 2011

Friends Life Protect+ brings together the individual protection businesses of Friends Provident, Axa and Bupa.
FSA director calls on firms to step up risk management

12 Oct 2011

Ex-Bank of England director Andrew Bailey says it is not the regulator’s job to manage firms’ risks.
FSA fines Credit Suisse £5.95m over structured product sales

25 Oct 2011

Credit Suisse UK failed to properly assess clients’ attitudes to risk and the suitability of Scarp sales.
FSA investigates advice standards in model portfolios, Difs and DFMs

14 Oct 2011

Regulator is examining the quality of investment advice involving portfolio advice services.
FSA rolls out assessment programme for small firms

17 Oct 2011

Programme will be akin to the regulator’s TCF initiative and will focus on issues such as systems and controls and RDR-readiness.
FSA says lack of Ucis sales won't hit independence

13 Oct 2011

Head of investment intermediaries Linda Woodall responds to IFA concerns that they will have to advise on Ucis to remain independent.
FSA scrutinises drawdown advice

25 Oct 2011

The regulator has written to IFA firms to determine the quality of advice being provided following the abolition of compulsory annuitisation in April.
FSA to issue warning on lease options

18 Oct 2011

Regulator to publish information on risks of lease option products.
FSA to overhaul IFA regulatory fees

28 Oct 2011

Regulator plans to change the fee tariff for IFAs from being based on number of approved persons to a firm’s income.
FSCS and bondholders to vote on Lifemark loan deal

19 Oct 2011

KPMG Luxemburg has called a vote on whether it should accept the loan facility brokered by Stewart Ford or put Lifemark into liquidation.
FSCS starts legal bid to recoup costs from Keydata distributors

12 Oct 2011

Law firm Herbert Smith has written to IFAs who sold Keydata products to begin recovering compensation paid to investors.
FTSE blog: FTSE closes up 2.89%

Online - October 2011

Markets continue to jump on eurozone deal.
FTSE blog: FTSE down over 2.5 per cent at close

Online - October 2011

European markets fall sharply as Greek concerns remain rife.
FTSE blog: FTSE falls by 0.2%

28 Oct 2011

FTSE falls after early gains.
FTSE blog: FTSE makes small gains as EU leaders gather in Brussels

Online - October 2011

FTSE up 0.5 per cent.
FTSE blog: FTSE up 3% at close

Online - October 2011

The FTSE 100 has rallied alongside other European markets.
FTSE blog: FTSE up over 3.5% at close

6 Oct 2011

The FTSE continues to make up losses made earlier this week.
FTSE continues to rally

10 Oct 2011

The FTSE 100 is up almost 2 per cent at close as markets continue to rally.
FTSE down almost 3 per cent at close

31 Oct 2011

The FTSE 100 has fallen almost 3 per cent at close to stand at 5,544.22
FTSE passes 5,500

24 Oct 2011

Markets rise on eurozone hopes.
FTSE passes 5,500

17 Oct 2011

FTSE passes 5,500 on eurozone hope.
FTSE retreat blamed on "profit taking"

31 Oct 2011

The FTSE 100 has retreated, dropping nearly 100 points, as some commentators blame profit-taking for the drop off in the blue chip index.
FundsNetwork launches discretionary service

11 Oct 2011

Fidelity FundsNetwork has launched a third party discretionary management service for advisers in partnership with Vestra Wealth.
GAM - GAM Star Emerging Asia Equity Fund

11 Oct 2011
GAM rediscovers regions surrounding China

28 Oct 2011
Gilliat Financial Solutions - Annual Kick Out October 2011

11 Oct 2011
Gilliat Financial Solutions - Auto Managed Deposit October 2011

12 Oct 2011
Gilliat Financial Solutions - Growth Multiplier October 2011

10 Oct 2011
Government may give small firms auto-enrolment extension

5 Oct 2011

Policymakers are understood to be concerned about the impact of auto-enrolment reforms on small businesses.
Government may move to save scheme pension

28 Oct 2011

Government hints it could legislate to exempt scheme pension from defined-benefit funding rules.
Government targets active member discounts

13 Oct 2011

The DWP has extended its power to cap pension charges to include deferred scheme members as pensions minister Steve Webb tackles active member discounts.
Government to delay state pension age increase

13 Oct 2011

Reports suggest the Government will delay plans to increase the state pension age to 66 by six months due to concerns the original proposals would unfairly impact on women.
Greece referendum disrupts eurozone rescue plans

1 Nov 2011

The Greek government has thrown eurozone leaders’ plans to resolve its overwhelming public debt into disarray.
Gross mortgage lending likely to fall in 2012, says AMI

21 Oct 2011

AMI predicting gross lending of between £130bn and £135bn.
Hanley Economic Building Society - First-Time Buyer Discount Mortgage

6 Oct 2011
Hanley makes discount available to intermediaries

10 Oct 2011
Hargreaves Lansdown sees 24% jump in new business in Q1

13 Oct 2011

HL sees assets on its Vantage platform fall 9 per cent due to market volatility.
Henderson recruits Mourinho for ad campaign

28 Oct 2011

Henderson Global Investors has recruited José Mourinho, Real Madrid football club manager, to be the face of its new advertising campaign.
Henderson to soft close UK absolute returns funds

20 Oct 2011

Henderson Global Investors is to soft close its two UK absolute return funds from at the end of next month.
Henderson's Pattullo and Barnard cut high yield exposure

24 Oct 2011

High yield allocation cut in Henderson strategic bond and Henderson preference and bond funds.
Hermes manager Wilkinson joins RLAM

24 Oct 2011

Neil Wilkinson has joined Royal London Asset Management as manager of its £552.3m Royal London European growth fund.
HMRC chasing £35m in stamp duty avoidance

28 Oct 2011

HMRC identified 1,200 people using stamp duty avoidance schemes costing Exchequer £35m a year.
HMRC clarifies RDR position for Isas

12 Oct 2011

HM Revenue & Customs has clarified its position on commission rebates into ISAs in its latest update.
HMRC clarifies VAT stance for adviser charging

31 Oct 2011

Advice process will be VAT exempt if client agrees to take out an investment product following adviser recommendations.
HMRC fines 1.5m taxpayers for late self-assessments

11 Oct 2011

Fines are up 56 per cent in the past five years.
House prices down 2.3% year-on-year in September

14 Oct 2011

Average price now £218,650.
House prices down 2.6% year-on-year in September

28 Oct 2011

Prices fall 0.3% between August and September.
House prices up 0.4% in October

1 Nov 2011

Average price now 0.8% higher than a year ago at £165,650.
How to make your award entry stand out (and why you should enter)

20 Oct 2011

With the deadline for the MM awards approaching, Loco Communications offers tips for advisers thinking of entering.
HSBC Global Asset Management - HSBC World Index Range: Balanced Portfolio

1 Nov 2011
HSBC Global Asset Management - HSBC World Index Range: Cautious Portfolio

1 Nov 2011
HSBC Global Asset Management - HSBC World Index Range: Dynamic Portfolio

1 Nov 2011
HSBC head of financial planning quits

26 Oct 2011

Bank says Paul Stanley left this month for personal reasons.
HSBC launches renminbi fixed income fund

27 Oct 2011

HSBC Global Asset Management has launched a renminbi fixed income fund.
HSBC launches three low-cost fund of funds

3 Oct 2011

HSBC Global Asset Management is launching three low-cost passive funds.
Hutton: Labour ducked public sector pension reforms

19 Oct 2011

Former Labour minister Lord John Hutton admits the party “ducked” the issue of public sector pensions reform during its time in office.
Ian Baker departs Capital Private Finance

12 Oct 2011

Baker leaves role as sales director after four months.
Ian Henderson to step down from JPM natural resources fund

26 Oct 2011

Henderson to step down from day-to-day fund management from January 2012.
IFP starts awarding accredited financial planning firm status

4 Oct 2011

At least half a firm’s advisers must be qualified as a certified financial planner, or as a professional or chartered financial planner.
IFP: Smaller firms ahead of the game on RDR

4 Oct 2011

Nick Cann says small to medium sized firms have been quicker to adapt to regulatory changes.
IMA calls for FCA to publish views of dissenting board members

19 Oct 2011

Chief executive Richard Saunders says move would increase accountability.
IMA: Fund sales at lowest levels since financial crisis

27 Oct 2011

Fund sales in the third quarter were the lowest since 2008, according to IMA stats.
IMF backs Operation Twist amid warning on US fiscal policy

6 Oct 2011

The International Monetary Fund lends its support to the Federal Reserve’s Operation Twist, but cautions that US fiscal policy needs to be “carefully calibrated”.
IMF lowers Asian growth outlook

13 Oct 2011

The International Monetary Fund (IMF) has cut its growth forecast for Asia amid concerns over the health of the eurozone and the US.
Incapital Europe – Enhanced Growth Plan – Inflation linked Series 1

25 Oct 2011
Incapital Europe - Equity Income Plan – FTSE 100 Series 6

25 Oct 2011
Ingenious Asset Management - Global Growth Fund

11 Oct 2011
Ingenious global growth strategy now available through Oeic

24 Oct 2011
Is this US website the future for tech-based financial advice?

4 Oct 2011

Does a new American website re-draw the boundaries for financial advisers.
Isa limit set to rise by £600

18 Oct 2011

Isa limit set for £600 boost on the back of inflation figures.
J O Hambro eyes China consumer in new funds

10 Oct 2011

J O Hambro Capital Management has launched the Asia ex Japan and Asia small and mid cap fund with an overweight to China.
James Hay links with 7IM for discretionary service

24 Oct 2011

James Hay and Seven Investment Management have joined forces to offer discretionary fund management on the provider’s iSipp product.
JO Hambro Capital Management - JOHCM Asia Ex Japan Fund

3 Oct 2011
JO Hambro Capital Management - JOHCM Asia ex Japan Small and Mid Cap Fund

3 Oct 2011
JO Hambro launches two Asia funds

3 Oct 2011

JO Hambro Capital Management launches two Asia funds.
JOHCM launches two funds for Asian specialists

12 Oct 2011
Jubilee Financial Products - Inflation Plus Plan 2

31 Oct 2011
Jupiter sees assets under management shrink by 10%

14 Oct 2011

Jupiter Fund Management has seen its assets under management shrink by £2.8 billion in the three months to September 30.
Just Retirement profits slump due to Euro bond sell-off

11 Oct 2011

The provider’s pre-tax profits fell 47.9 per cent from £71.2m last year to £37.1m this year as the firm was forced to offload Irish and European bonds.
Just Retirement Q1 annuity sales increase 53 per cent

31 Oct 2011

Just Retirement’s sales of annuity policies rose by 53 per cent in the first quarter from £175.7m last year to £268.3m in the three months to September 30, 2011.
Just Retirement recruits Rothesay Life chief operating officer Jason Wright

17 Oct 2011

Wright will develop the company’s business strategy and oversee the delivery of its business investment programme portfolio.
Kames Capital poaches multi-manager property team from ING REIM

25 Oct 2011

Kames Capital appoints property trio from ING REIM UK.
Kensington blames Irish crisis for negative equity

3 Oct 2011

Proportion of lenders’ loans more than 90 days in arrears now 31%.
King warns QE will not guarantee rise in bank lending

25 Oct 2011

Bank of England governor says latest round of QE will not guarantee a boost in bank lending.
King: Time running out to solve global crisis

19 Oct 2011

King said having low interest rates and QE would only “delay and exacerbate the final reckoning for the West”.
L&G agrees £1.1bn bulk annuity deal with T&N pension scheme

25 Oct 2011

Pension provider agrees to buyout the liabilities of the T&N Retirement Benefits Scheme (1989).
Labour names Gregg McClymont as Shadow pensions minister

10 Oct 2011

MP for Cumbernauld, Kilsyth and Kirkintilloch East replaces Rachel Reeves in Shadow pensions role.
Large mortgages set to be excluded from new Euro rules

5 Oct 2011

A committee scrutinising the European Commission’s mortgage credit directive has proposed an exemption for mortgages over €2m.
Law firm warns new rules will increase advice liability

5 Oct 2011

The FSA is seeking to force financial services firms to provide 100 per cent redress to customers who have suffered losses.
Leeds BS launches two-year fixed at 1.99%

4 Oct 2011

Product available to 75% LTV and there is a £1,999 fee.
Leeds heads two-year fix table

24 Oct 2011
Legal & General - Growth Plan 3

18 Oct 2011
Legal & General - Six-Year Growth Deposit Bond 10

12 Oct 2011
Legg Mason Global Asset Management - US Equity Income Fund

25 Oct 2011
Lifestyle system failure hits 10,000 Scottish Widows clients

12 Oct 2011

Scottish Widows could be forced to pay redress to around 10,000 customers after its bespoke lifestyling system failed to rebalance members’ pension investments.
Liontrust pays 30% less for Occam after asset fall

5 Oct 2011

Liontrust has paid less for emerging markets specialist Occam due to a fall in AUM.
Lloyds considers floating bank branches

24 Oct 2011

Lloyds Banking Group is considering flotation after failing to attracts a strong enough price for branch portfolio.
Lloyds to launch £2.1bn securitisation

26 Oct 2011

Fitch assigns AAA rating to transaction.
LLP Services/Move with Us - Residential Property Trading

17 Oct 2011
LV= abandons Hornbuckle takeover plans

25 Oct 2011

Money Marketing understands concerns about investments Hornbuckle has been linked to halted the takeover deal.
MAM Funds - Acuim UK Multi Cap Fund

28 Oct 2011
MAM Funds to launch open-ended fund for Williams

13 Oct 2011

MAM Funds is to launch an open-ended version of its diverse income trust for managing director Gervais Williams at the end of the week.
Mansfield Building Society - 2-Year Fixed Rate Buy-To-Let

25 Oct 2011
Mansfield Building Society - 3-Year Fixed Rate Buy-To-Let

25 Oct 2011
Mansfield Building Society – Three-Year Discount Mortgage

24 Oct 2011
Mark Hoban rejects MPs' calls for Arch cru inquiry

19 Oct 2011

Treasury financial secretary says he is yet to be persuaded that an inquiry is needed.
Markets fall as Ecofin meeting pulled

25 Oct 2011

Markets have tumbled after reports emerged that tomorrow’s critical meeting of finance ministers has been cancelled ahead of the eurozone summit.
Markets fall over eurozone division

20 Oct 2011

FTSE 100 falls below 5,400 in early trades.
McClymont: Speeding up rise in state pension age may hit public confidence

20 Oct 2011

Gregg McClymont has warned the Government plans to accelerate the rise in the state pension age will undermine public confidence in saving policy.
Meacher: Compass plan B proposal 'doesn't cut the mustard'

31 Oct 2011

Labour MP says proposals for economic plan B must be fully costed to be taken seriously.
Merchant Capital - Growth Plan: Gold Issue 1

24 Oct 2011
Meteor Asset Management - FTSE 100 Income Deposit Plan 3

6 Oct 2011
Meteor Asset Management - FTSE 5 Quarterly Kick-Out Plan 4

31 Oct 2011
Meteor Asset Management - Prima Platinum Plan 13

19 Oct 2011
Meteor Asset Management - Top Ten Kick-Out Plan 10

19 Oct 2011
Metlife offers freedom through fixed-term annuity

7 Oct 2011
Metlife takes third way

13 Oct 2011
Mifid draft confirms no commission ban for non-independents

20 Oct 2011

Latest Mifid II draft says commission will be banned for independent advisers but does not mention other types of advice.
Miliband promotes Rachel Reeves to Shadow cabinet

7 Oct 2011

Labour pensions spokeswoman Reeves replaces Angela Eagle as Shadow Treasury chief secretary following a reshuffle by Ed Miliband.
Miliband slams Govt business tax changes

31 Oct 2011

The Labour leader says changes to tax system will boost banking and promote short-termism.
MMTV: How can the industry improve critical illness sales?

4 Oct 2011

Critical illness sales have been in decline since 2002. What can be done to help grow the market?
Mobius an advantage for new Templeton EM balanced fund

24 Oct 2011
Money Marketing launches free RDR seminars

5 Oct 2011

RDR invitational events are free for intermediaries and will feature advice from leading industry experts.
Moneygate in talks with 22 IFA firms

10 Oct 2011

Group reported £1.3m pre-tax loss in 2010.
Moody’s cuts ratings of 12 UK banks and building societies

7 Oct 2011

Moody’s downgrades senior debt and deposit ratings of 12 UK banks and building societies.
Moody’s slashes Italy’s credit rating

5 Oct 2011

Moody’s has cut Italy’s credit rating by three notches.
Moody’s warns France on losing Aaa rating

18 Oct 2011

Rating agency Moody’s has warned that France may be the next nation at risk of losing its Aaa debt rating.
More QE could push inflation to 6%

4 Oct 2011

LSL Property Services says inflation could rise to 6% if BoE introduces more QE.
Morgan Stanley IQ - FTSE Bonus Growth Plan 6

17 Oct 2011
Morgan Stanley IQ - FTSE Booster Plan

17 Oct 2011
Morgan Stanley IQ - FTSE Kick-Out Growth Plan 14

24 Oct 2011
Morgan Stanley IQ - Protected Growth Plan 44

24 Oct 2011
Morgan Stanley IQ gives investors a boost

24 Oct 2011
Mortgage complaints up 37%

18 Oct 2011

There were 2,796 complaints to the FOS in Q3, 2011.
Mott: QE could lead to “serious inflationary problems”

13 Oct 2011

PSigma income fund manager Bill Mott says that QE “could cause serious inflationary problems for the UK in the future”.
MPC members were unanimous on QE

19 Oct 2011

The minutes from October’s MPC meeting show all members voted for an additional £75bn of quantitative easing.
MPC’s Weale: More scope for QE

10 Oct 2011

Monetary Policy Committee member Martin Weale believes there is “quite a lot of scope for more quantitative easing”.
MPs attack Bank of England for not releasing crisis documents

31 Oct 2011

TSC chair Andrew Tyrie calls on Bank of England to reconsider his request.
MPs push for Arch cru Parliamentary committee

24 Oct 2011

A number of MPs want to create a committee to increase pressure on Government.
MPs to quiz FSA over Arch cru package and IFA liability

26 Oct 2011

MPs will quiz the FSA next month over the fact investors will be left having to claim against their IFA.
Mundy: UK banks are "value traps"

26 Oct 2011

Investec’s contrarian investor Alastair Mundy says that he is staying away from UK banks as there is a risk they will “go bust”.
NAPF: One in three will shun auto-enrolment

20 Oct 2011

A study by NAPF says 32 per cent of people are unlikely to stay in workplace pensions.
NAPF: QE could cause £45bn spike in pension deficits

19 Oct 2011

National Association of Pension Funds chairman Lindsay Tomlinson urges The Pensions Regulator to take action.
Nationwide revamps new-build valuation policy

31 Oct 2011

Lender will now include new-build premium in valuations.
Nationwide to cut five-year fixed to 3.59%

25 Oct 2011

Lender also making a number of reductions to 85% LTV range.
NBNK to bid for Northern Rock

17 Oct 2011

New banking venture gets green light to bid for the state-owned bank.
Neptune to launch global long/short fund

17 Oct 2011

Neptune is to launch a global long/short fund.
Neptune unveils global long/short fund

19 Oct 2011

Neptune has unveiled the details for its global long/short fund.
Nest links with Aviva for pension top-up

11 Oct 2011

Nest Corporation will offer the Nest pension scheme to its staff, with Aviva providing a top-up GPP for people who reach the £4,200 contribution limit.
Nest transfer ban 'benefits industry at expense of employees'

12 Oct 2011

Baroness Drake tells Work and Pension select committee that transfer ban can ’only benefit industry’.
New chief for HSBC Global Asset Management

14 Oct 2011

Sridhar Chandrasekharan has been named as chief executive of HSBC Global Asset Management after incumbent John Flint was appointed to a new role within the banking group.
New fund platform launches

10 Oct 2011
New shadow housing minister appointed

11 Oct 2011

Labour MP Jack Dromey has been appointed shadow housing minister to replace Alison Seabeck.
No LV= fund managers to join Threadneedle

1 Nov 2011

Threadneedle has announced that no fund managers will be joining from LV=Asset Management following its outsourcing deal.
No regulatory action for BNY Mellon and HSBC over Arch cru

10 Oct 2011

FSA has not ruled on whether Capita should be held legally responsible for Arch cru investor losses.
NOW: Pensions unveils charging structure

1 Nov 2011

The ATP-backed multi-employer pension scheme will charge members £1.50 per month plus a 0.3 per cent annual management charge.
Octopus EIS keeps FIT

7 Oct 2011
Octopus energises dual VCT

28 Oct 2011
OFT refers audit market to Competition Commission

21 Oct 2011

OFT concerned market is “highly concentrated” and substantial barriers to entry.
OMAM UK appoints Julian Ide as CEO as Baxter quits

4 Oct 2011

OMAM UK has appointed Julian Ide as chief executive officer and head of global distribution.
ONS cuts Q1 and Q2 UK growth forecasts

5 Oct 2011

The ONS has cut its forecast for UK economic growth from 0.2% to 0.1% for the second quarter of 2011.
Openwork appoints chief financial officer

13 Oct 2011

Simon Clifford takes over as chief financial officer.
Openwork partners with IFDL for platform offering

14 Oct 2011

Openwork announces second platform and teams with Veracity for legacy business analysis deal.
Paymentshield slammed for trail commission cut

17 Oct 2011

Brokers are up in arms after having their trail commission slashed from 27% to 5% by Paymentshield.
Pension funds call for emergency meeting over QE move

6 Oct 2011

NAPF chief executive Joanne Segars has written to The Pensions Regulator to discuss implications of quantitative easing for pension schemes.
Pensions Regulator reveals details of Polestar collapse

1 Nov 2011

TPR says the scheme trustee attempted to take “excessive investment risk” to secure members’ retirement benefits after the sponsoring employer went into administration.
Pensions Regulator warns active member discounts are not "fair" or "acceptable"

19 Oct 2011

TPR tells schemes that offering AMDs is not fair.
Pensions Regulator warns of 'hybrid' scheme risks

25 Oct 2011

TPR has issued a warning to trustees about the risk of governance failings in ’hybrid’ pension schemes.
Political parties target pension tax relief reforms

13 Oct 2011

The Tories, Labour and LibDems see big savings in reforming higher-rate pension tax relief.
PosSol launches network model

20 Oct 2011

Positive Solutions has launched its Positive Practices network model and aims to recruit up to 100 new firms.
PosSol loses 360 advisers and makes £1.6m loss

4 Oct 2011

Firm reveals a 22 per cent cut in numbers as advisers move to become directly authorised.
Post Office guarantees best insurance quotes for IFAs

18 Oct 2011

The Post Office has guaranteed to beat all business renewal quotes for independent financial advisers offices.
Precise increases maximum LTV to 85%

26 Oct 2011

Lender previously lent up to 80% LTV.
Precise offers prime deal for near prime market

7 Oct 2011
Premier appoints Jacob Robbins to global alpha fund

24 Oct 2011

Premier Asset Management has appointed Jacob Robbins as lead manager of the Premier global alpha growth fund.
Private rented sector to account for 20% of housing by 2020

5 Oct 2011

Owner occupier sector to fall from 70% to 60% by 2020.
Quick turnaround of properties for RPT

28 Oct 2011
Rambourg set for Paris hedge fund launch

5 Oct 2011

Former Gartmore star manager Guillaume Rambourg is poised to launch his own hedge fund venture in Paris.
RBS may cut another 5,000 jobs

17 Oct 2011

Royal Bank of Scotland may cut another 5,000 jobs as part of a major restructure of its global investment banking division.
RBS may need injection of further capital

7 Oct 2011

Whitehall is nervous that the government may have to inject further capital into the Royal Bank of Scotland.
RBS to launch £3.5bn securitisation

11 Oct 2011

Royal Bank of Scotland is to launch a £3.5bn RMBS.
Royal London to launch D2C financial planning tool

13 Oct 2011

Royal London is launching an online, client-facing financial planning tool called MoneyVista.
RSM Tenon finance director steps down

18 Oct 2011

Russell McBurnie is replaced by new chief financial officer Adrian Garner.
RSM Tenon Financial Services rebrands as Lemontree

11 Oct 2011

RSM Tenon Financial Services has changed its name to Lemontree Wealth
S&P affirms UK rating but warns on growth

3 Oct 2011

Standard & Poor’s has affirmed the UK’s top credit rating but warned that the government’s recovery plan is “optimistic”.
S&P cuts Spain credit rating

14 Oct 2011

Standard and Poor’s cites weak growth and high private-sector debt for Spain’s drop to AA-.
Saffron BS chief exec to leave for One Savings Bank

10 Oct 2011

Andy Golding leaving on December 31.
Sanlam UK appoints van der Merwe as chairman

5 Oct 2011

Johan van der Merwe was previously Sanlam Investment Management chief executive.
Sanlam UK launches £12.2m bid for Merchant Securities

31 Oct 2011

Acquisition will allow firm to extend its reach into the UK stockbroking market.
Santander AM poaches HSBC credit manager

18 Oct 2011

Santander Asset Management UK appointed Azim Meghji as head of credit.
Santander UK’s gross mortgage lending up 29% in Q3

27 Oct 2011

But gross lending year-on-year down 13%.
Scot Life repays 17,000 with-profits policyholders

17 Oct 2011

Scottish Life has begun to repay policyholders after admitting it has underpaid them between January 2010 and March 2011.
Senior LVAM trio not joining Threadneedle

19 Oct 2011

Ashby, Kim and Timberlake will not be joining Threadneedle, Money Marketing understands.
Shapps calls for 30-year fixed rate mortgages

20 Oct 2011

Housing minister Grant Shapps is expected to urge lenders to offer 30-year fixed rate mortgages in his speech at the BSA conference today.
Shapps: Govt has no plans to reform stamp duty

20 Oct 2011

Shapps asked if Govt has plans to reform “slab” structure of stamp duty.
Shares fall over France and China worries

18 Oct 2011

The FTSE has dropped below 5,400.
Shaun Sandiford: Flexibility on charges is the key

7 Oct 2011

Axa Wealth’s Shaun Sandiford says advisers with a range of charging structures can drive transparency, fairness and profit.
SimplyBiz's mortgage director joins Countrywide

28 Oct 2011

Emma Hollingworth to become account director within corporate division.
Six million set for tax rebate

19 Oct 2011

HMRC says a further 1.2m are set to receive a bill for £600.
Skandia pulls offshore bond from platform

18 Oct 2011

Offshore bond on platform is closed to new business but Royal Skandia offshore bond remains open.
Skandia: Platforms could spell end for Sipps

13 Oct 2011

Skandia UK marketing director Nick Dixon says advisers will be able to manage and advise on pensions via platforms.
Slater income ticks the boxes

13 Oct 2011
Slovakia votes against expanding eurozone bailout fund

12 Oct 2011

The country is the last to vote on the bailout fund plans which have to be agreed by all eurozone member states.
Slow growth will hit financial services employment, says Ernst & Young

31 Oct 2011

Lacklustre economic growth in the UK will hit employment prospects in the financial services sector, according to Ernst & Young’s ITEM Club.
SocGen shareholders not told about £127m fraud

10 Oct 2011

French bank Societe Generale did not tell its shareholders that it fell victim to a further £127m fraud.
Societe Generale goes for autocall

7 Oct 2011
Soros fails to quash insider trading conviction

7 Oct 2011

Hedge fund billionaire George Soros has lost his case to have a criminal conviction for insider dealing quashed.
Spain and Italy face further ratings downgrades

19 Oct 2011

Moody’s downgrades Spanish bonds while S&P cuts credit rating of 24 Italian banks and financial institutions.
Spanish banks downgraded by S&P and Fitch

12 Oct 2011

Standard & Poor’s and Fitch have downgraded a raft of Spanish banks, citing a deteriorating outlook for the Spanish economy.
Standard calls for automatic increases in auto-enrolment pension contributions

17 Oct 2011

Standard Life says policymakers should consider automatically increasing employee pension contributions each time they get a pay rise.
Standard Life in £100m PI claim

13 Oct 2011

The provider is suing 11 insurers for failing to cover a £100m cash injection into the Standard Life Pension Sterling Fund during the credit crunch.
Stellar Asset Management - Stellar Trading Companies

17 Oct 2011
Stellar explores new trades

28 Oct 2011
Steve Webb reveals plans to tackle incentivised pension transfers

21 Oct 2011

Pensions minister Steve Webb has warned the Government will legislate against ETVs and pension increase exchange exercises unless industry standards improve.
Stockbroker MF Global UK enters special administration regime

31 Oct 2011

Stockbroker MF Global UK is the first company to enter a special administration regime.
Stonebridge launches multi-tie life and protection panel

4 Oct 2011

Panel will offer products from 5 providers.
Stonebridge teams with Moneygate to bolster wealth offering

11 Oct 2011

Mortgage and insurance network Stonebridge Group has partnered with Moneygate to grow its wealth management arm.
Strong and stable euro "as likely as deep-fried ice-cream"

6 Oct 2011

A strong and stable euro “is as likely as deep-fried ice-cream”, says Gisela Stuart, a veteran ex-member of the Foreign Affairs Committee.
Swip appoints James Carver as investment director

3 Oct 2011

Scottish Widows Investment Partnership has appointed James Carver to the role of investment director for absolute return bond funds.
Ted Scott backs Osborne's credit easing plans

4 Oct 2011

F&C director of global strategy says help is needed for smaller and medium-sized companies.
Tenet group operations director departs

25 Oct 2011

Tenet group operations director Mike McGaughrin has left the firm as part of a restructure.
Tesco confirms its mortgage launch is delayed

5 Oct 2011

Tesco has confirmed that its launch into the mortgage market has been delayed until early 2012.
Thames River to close offshore absolute return fund

27 Oct 2011

Thames River has announced it is to close its Irish-domiciled absolute return fund, after it failed to attract new inflows over the past three years.
The Conservatives in Manchester: A conference in pictures

7 Oct 2011

Unlike Steve Hilton, Steve Tolley fails to hunt down Andrew Tyrie but catches up with TSC members and Andrew Dilnot.
The dangers of relying on projection rates

6 Oct 2011

Is consumer concern over whole of life policies a symptom of a wider problem?
The death of multi-manager funds?

17 Oct 2011

Philippa Gee says multi-managers have had their day.
Thinktanks: Junior Isas will only benefit wealthy

31 Oct 2011

Two thinktanks say Junior Isas will only benefit wealthy investors ahead of their launch tomorrow.
Threadneedle appoints Neil Robson to global equities team

31 Oct 2011

Robson joins from Martin Currie Investment Management.
Threadneedle chairman Davies to retire

10 Oct 2011

Threadneedle executive chairman Simon Davies is to retire in June next year.
TMA increases proc fees

31 Oct 2011

Proc fees for Northern Rock and Halifax mortgage products increase by 0.1%.
TMW launches buy-to-let affordability app

10 Oct 2011

App developed for Android and Blackberry smart phones.
Top bosses leave HML

27 Oct 2011

Chief executive Brian Brodie and chief commercial and finance officer Neil Warman leave.
Towry head of compliance quits

6 Oct 2011

Towry head of risk and compliance Nick Anderson has resigned from the firm.
Treasury raises concerns over Mifid commission ban

11 Oct 2011

MP Mark Hoban says a ban on commission for independent advisers could distort the advice market.
Treasury select committee warns FSA on liquidity squeeze

24 Oct 2011

Andrew Tyrie has written to the BoE and the FSA to raise concerns about the negative impact the squeeze on banks’ liquidity is having on their ability to lend.
Treasury sets up simple products steering group

20 Oct 2011

Steering group will be led by former FSA director and Lloyds chief risk officer Carol Sergeant.
Treasury to propose 'credit easing' for companies

3 Oct 2011

Chancellor says the proposal, which would involve the Government buying corporate bonds from companies, could help prevent another credit crunch.
Treasury to review financial crisis response

17 Oct 2011

Review will make recommendations on issues including employee retention and remuneration, risk management, and contingency planning.
TSC backs ex-IMA chair Robert Jenkins for FPC

27 Oct 2011

Committee says Robert Jenkins has competence, commitment and independence for the role.
TSC member warns over RDR threat to diversity

3 Oct 2011

Jesse Norman has raised concerns that the retail distribution review will lead to reduced diversity in financial services.
Turner calls for "teeth" to protect investors

21 Oct 2011

FCA will need “powers and teeth” to protect consumers and investors, according to FSA chairman.
Turner: Low interest rates risk pushing consumers to structured products

21 Oct 2011

FSA chairman warns low returns make consumers vulnerable to the promise of complex structured products.
Tyrie calls for help assessing FSA cost benefit analyses

25 Oct 2011

TSC chair Andrew Tyrie wants to see firms regulatory costs to compare them against FSA expectations.
Tyrie warns time pressures hindering scrutiny of new reg structure

1 Nov 2011

TSC chair Andrew Tyrie has written to committee scrutinising regulatory changes to co-ordinate efforts.
UK GDP grows by 0.5% in Q3

1 Nov 2011

The UK economy grew by 0.5% in the three months to the end of September.
UK inflation rises to 5.2%

18 Oct 2011

The UK consumer prices index has risen to 5.2 per cent in September on the back of hikes in energy prices.
UK prime RMBS performance stable in August

19 Oct 2011

90+ arrears rate up slightly to 1.9% from 1.8%.
UK Structured Products Association elects new chairman

13 Oct 2011

The UK Structured Products Association has elected Lloyds Banking Group head of distribution Jamie Smith as chairman.
Unbiased.co.uk announces management buyout

6 Oct 2011

Unbiased says the deal will secure more representative sources of funding.
Unions begin High Court pensions challenge

25 Oct 2011

Six public sector unions have begun a High Court challenge of the Government’s decision to link pension payments to CPI.
VAM Funds (Lux) - US Mid Cap Growth Fund

6 Oct 2011
Vanguard adds to UK range with SRI funds

24 Oct 2011

Vanguard Asset Management is to market two SRI funds in the UK after launching sterling share classes.
Veracity strikes portfolio partnership with SEI

27 Oct 2011

Veracity Asset Transformation Service has partnered with SEI to provide strategic portfolios to advisers.
Vince Cable fined for failing to pay VAT

26 Oct 2011

Cable fined £500 for failing to pay up to £25,000.
Wagstaff joins Skandia Investment Group as CEO

21 Oct 2011

Former Gartmore global head of distribution Phil Wagstaff has joined Skandia Investment Group as chief executive.
Webb: No change to auto-enrolment

24 Oct 2011

Pensions minister Steve Webb says Beecroft report recommendations will not change auto-enrolment.
Will the MPC trigger QE tomorrow?

5 Oct 2011

Revisions to the growth of the UK economy make it more likely the Bank of England will launch a new round of quantitative easing.
Woolwich offers 90% LTV

26 Oct 2011

Lender previously lent to 85% LTV.
Would refundable FOS complainant fees work?

5 Oct 2011

Could Government plans for employer tribunal fees work in financial services?
Xafinity - SimplySIPP

28 Oct 2011
Zurich pledges not to go direct to clients

14 Oct 2011

Zurich says it will declare in its terms of business it will not contact adviser’s clients directly.

Money MarketingOnline - October 2011

Money Marketing
Online - October 2011