Money Marketing
Online - February 2012

Blackrock - iShares Barclays U.S. Treasury Bond Fund

17 Feb 2012

Blackrock - iShares Barclays U.S. Treasury Bond Fund
Legal & General – Early Bonus Plan 5

28 Feb 2012

Legal & General – Early Bonus Plan 5
7IM integrates Voyant service onto platform

13 Feb 2012

Financial technology firm Voyant has integrated with the Seven Investment Management platform.
80 staff in consultation at Platform

24 Feb 2012

Staff put on consultation as lender looks to relocate to Manchester from London office.
A wide world of investment for Dentons' Sipp

17 Feb 2012

Self-invested pension specialist Dentons Pension Management has designed a self-invested personal pension to provide investors with maximum investment choice and flexibility if they need it, with lower annual administration costs if they prefer a simpler strategy. Dentons has over 30 years’ experience in pension management and is used to dealing with complex investments and transactions, including commercialproperty. It was founded in the 1970s to deal with small self-administered ...
Abbey ditches proc fees for interest-only ports

20 Feb 2012

Existing customers must now contact Abbey direct and brokers will not receive a fee.
Abbey increases rates and slashes maximum loan for offset

9 Feb 2012

Maximum loan amount on its flexible offset product reduced from £1m to £550,000.
Abbey to include birthdays and Christmas in affordability checks

23 Feb 2012

Abbey for Intermediaries will now require customers to account for one-off costs such as Christmas in their expenditure assessments.
Aberdeen rebrands multi-asset business

24 Feb 2012

Aberdeen Asset Management has renamed its Alternative Investment Strategies business as Aberdeen Solutions.
Aberdeen to soft-close £2.7bn emerging markets fund

3 Feb 2012

Aberdeen Asset Management is stemming flows into £9bn emerging markets fund range by asking IFAs to remove the funds from their buylists.
ABI has no accurate figure of OMO take-up

7 Feb 2012

The ABI does not have a figure for the proportion of annuity customers exercising the open market option, it has been revealed.
Accord withdrawing all 75% and 85% LTV products

13 Feb 2012

Lender will launch a new product range on Thursday.
Accord withdraws residential range due to demand

29 Feb 2012

Lender withdrawing range temporarily due to unprecedented number of applications.
Adviser banned and fined £335k for retaining premiums

17 Feb 2012

Donald Morgan Insurance Services deliberately retained premium payments which should have been paid to insurers.
Advisers face £30m annual FSCS levy, plus possible £40m interim levy

2 Feb 2012

Investment advisers face an annual FSCS levy of £33m, out of a total annual levy of £221m.
Advisers urge Scot Wids to focus on CI and IP innovation

7 Feb 2012

Advisers call on Scottish Widows to focus on CI and IP following re-entry into IFA protection space.
Aegon ScotEq redress costs hit £171m

17 Feb 2012

Total redress paid to Scottish Equitable customers has hit £152m, with a further £19m in operating costs.
Ageas UK's protection business up 89%

20 Feb 2012

Gross written premiums up 89% to £44.6m in 2011, up from £23.6m the year before.
Aifa and Zurich launch long-stop campaign

29 Feb 2012

Campaign aims to secure adviser long-stop as part of the Financial Services Bill, or for the FCA to be able to introduce a long-stop at a later date.
Aifa wants cap on regulatory fees and accountability review

6 Feb 2012

Aifa says large budget increases should be signed off by Treasury.
Ami and Aifa to split

10 Feb 2012

Ami will become an independent organisation run by Robert Sinclair.
Amps to form platform sub-committee

9 Feb 2012

Chairman Andrew Roberts says the decision reflects the increasing importance of platforms in the pensions sector.
Andrew Jones confirmed as HML chief exec

10 Feb 2012

Jones had been doing job on interim basis for past three months.
ASA rules against 'misleading' RBS ads

15 Feb 2012

RBS and NatWest made claims they would provide banking services where they are ’the last bank in town’ which could not be proven.
Association of Short Term Lenders chief exec steps down

29 Feb 2012

Adrian Bloomfield will continue in his role until a successor is found.
Auto-enrolment set to spur wider benefit investment says Grid

10 Feb 2012

The imminent introduction of auto-enrolment looks set to trigger increased investment in employee benefits according to research from Group Risk Development.
Avelo launches PMI comparison service

27 Feb 2012

Service available to all Exchange users at a cost of £2.50 per comparison.
Aviva cuts with-profits bonus rates

10 Feb 2012

Provider says the decision “reflects future economic expectations and prudent management of the fund”.
Aviva develops protection sales aids for advisers

20 Feb 2012

The insurer is re-airing its TV ad campaign on life insurance, featuring Paul Whitehouse.
Aviva Investors SRI team set to be sold off

1 Feb 2012

Aviva Investors’ sustainable and responsible investment team and £1.1bn fund range are set to be sold off as part of the firm’s move to reduce its retail presence.
Aviva Investors to launch global team to replace SRI

1 Feb 2012

Aviva Investors has confirmed it is to axe its SRI team and plans to create a global team that looks at responsible investment across its fund range.
Aviva Investors to manage European equities out of Paris

1 Feb 2012

Aviva Investors could manage its £140m European equity fund out of Paris following a review that has seen the closure of four equity desks.
Aviva says FCA duty of care proposal is "unnecessary"

23 Feb 2012

Insurer says TCF rules and product intervention powers make duty to provide consumers appropriate level of care “unnecessary”.
Axa signs FNZ deal in Elevate assets push

20 Feb 2012

New teams to work in Bristol, Basingstoke and the Czech Republic to push development of the Elevate platform.
Axa Wealth adds £1.3bn to Elevate

16 Feb 2012

Total platform assets under administration grew to £3.5bn as at the end of 2011.
Balls calls on Osborne to make Budget tax cuts

20 Feb 2012

Ed Balls has called on Chancellor George Osborne to cut taxes in next month’s Budget statement in a bid to stave off a 1930’s style depression.
Bank boosts QE by £50bn

9 Feb 2012

The Bank of England expanded its quantitative easing programme today, as widely expected by the markets.
Barclays hires new retail lending MD

14 Feb 2012

Steve Weston joins from National Australia Bank.
Barclays investment complaints jump 77% in 2011

22 Feb 2012

Barclays has reported a 77 per cent rise in investment complaints made about the firm to the FSA in 2011.
Barclays pre-tax profits fall 3%

10 Feb 2012

Barclays Group cuts bonus pot 25 per cent to £2.15bn.
Barclays/Woolwich - Fixed-Rate Mortgage update

15 Feb 2012

Barclays/Woolwich - Fixed-Rate Mortgage update
Barclays/Woolwich - Future Fix: 2-Year Tracker followed by 3-Year Fix

15 Feb 2012

Barclays/Woolwich - Future Fix: 2-Year Tracker followed by 3-Year Fix
Barclays/Woolwich - Two-Year Fix

15 Feb 2012

Barclays/Woolwich - Two-Year Fix
Barclays/Woolwich - Two-Year Offset Tracker

15 Feb 2012

Barclays/Woolwich - Two-Year Offset Tracker
Barings manager Harte leaves after fund merger

9 Feb 2012

Barings absolute return global bond manager Colin Harte has left the company following the merger of the fund into the multi asset fund.
Baronsmead makes tracks with linked offer

10 Feb 2012

RAM Capital Partners/Isis Equity Partners - Baronsmead VCTs Linked Offer
BBA slams Livingstone 'hang a banker' jibe

20 Feb 2012

BBA attacks Ken Livingstone for calling for bankers to be hung one-by-one as an example to the others.
Beware the rise of the protection floggers

28 Feb 2012

LightBlue UK director Mark Dennison says there are many IFAs who have moved into the protection market looking for a quick sale.
Blackrock - iShares Aaa - A Rated Corporate Bond Fund

17 Feb 2012

Blackrock - iShares Aaa - A Rated Corporate Bond Fund
Blackrock - iShares Barclays CMBS Bond Fund

17 Feb 2012

Blackrock - iShares Barclays CMBS Bond Fund
Blackrock - iShares Barclays GNMA Bond Fund

17 Feb 2012

Blackrock - iShares Barclays GNMA Bond Fund
Blackrock – iShares Dow Jones-UBS Commodity Swap

22 Feb 2012

Blackrock – iShares Dow Jones-UBS Commodity Swap
Blackrock – iShares Financials Sector Bond Fund

21 Feb 2012

Blackrock - iShares Financials Sector Bond Fund
Blackrock – iShares Industrials Sector Bond Fund

21 Feb 2012

Blackrock – iShares Industrials Sector Bond Fund
Blackrock - iShares Physical Gold ETC

22 Feb 2012

Blackrock - iShares Physical Gold ETC
Blackrock - iShares Physical Gold ETC

24 Feb 2012

Blackrock - iShares Physical Gold ETC
Blackrock - iShares Physical Palladium ETC

24 Feb 2012

Blackrock - iShares Physical Palladium ETC
Blackrock - iShares Physical Platinum ETC

24 Feb 2012

Blackrock - iShares Physical Platinum ETC
Blackrock - iShares Physical Silver ETC

24 Feb 2012

Blackrock - iShares Physical Silver ETC
Blackrock - iShares S&P Commodity Producers Agribusiness

23 Feb 2012

Blackrock - iShares S&P Commodity Producers Agribusiness
Blackrock - iShares S&P Commodity Producers Gold

23 Feb 2012

Blackrock - iShares S&P Commodity Producers Gold
Blackrock - iShares S&P Commodity Producers Oil and Gas

23 Feb 2012

Blackrock - iShares S&P Commodity Producers Oil and Gas
Blackrock - iShares S&P GSCI Dynamic Roll Agriculture Swap

23 Feb 2012

Blackrock - iShares S&P GSCI Dynamic Roll Agriculture Swap
Blackrock - iShares S&P GSCI Dynamic Roll Commodity Swap

22 Feb 2012

Blackrock - iShares S&P GSCI Dynamic Roll Commodity Swap
Blackrock - iShares S&P GSCI Dynamic Roll Energy Swap

23 Feb 2012

Blackrock - iShares S&P GSCI Dynamic Roll Energy Swap
Blackrock – iShares Utilities Sector Bond Fund

21 Feb 2012

Blackrock – iShares Utilities Sector Bond Fund
BM Solutions to cut B2L fixed rates by up to 0.3%

7 Feb 2012

Two-year products up to 75% LTV cut by 0.3%.
BoE court chair Sir David Lees re-appointed

24 Feb 2012

Sir David Lees will oversee regulatory switch and big increase in Bank’s power.
Boiler room fraud victims in line for £64k redress

17 Feb 2012

FSA secures a court order against Monobank which will see boiler room fraud victims receive at least £64,000 in compensation.
Bonham Carter: Consistent outperformance is a “fluke”

2 Feb 2012

The asset management industry fails to realise consistent outperformance is a “statistical fluke”, according to Edward Bonham Carter.
Bright Grey - Lifestyle Plus Protection Plan

16 Feb 2012

Bright Grey - Lifestyle Plus Protection Plan
Bright Grey and Scot Prov record 17% new business increase

7 Feb 2012

Asset management new business falls, but Royal London’s total life and pension business up 6 per cent.
Bright Grey launches enhanced simplified life and CI product

13 Feb 2012

Lifestyle plus offers TPD as standard.
Buffett eschews gold for “productive assets”

13 Feb 2012

Billionaire investor Warren Buffett has outlined why he avoids gold in favour of “productive assets” in his latest shareholder letter, published by Forbes magazine.
Bull & Bear mark II from Merchant Capital

24 Feb 2012

Structured product provider Merchant Capital has introduced a second issue of the Merchant Capital growth plan FTSE bull & bear.
Business leaders call for 50p tax rate to be scrapped

1 Mar 2012

More than 500 business leaders have called on Chancellor George Osborne to scrap the 50p top rate of tax in next month’s Budget.
CA Awards 2012 - Thomsons named firm of the year, while Jelf scoops hat-trick

9 Feb 2012

Thomsons Online Benefits was named Firm of the Year, while Jelf Employee Benefits scooped a hat-trick of trophies at the Corporate Adviser Awards ceremony in London last night.
Calls for Ex-Lloyds chairman to be stripped of knighthood

2 Feb 2012

A Lloyds investor group has asked the head of the civil service to strip former Lloyds chairman Sir Victor Blank of his knighthood.
Calls for Royal Commission into BoE's work during crisis

28 Feb 2012

Author of new book into Bank’s role in crisis says Bank executives were “paralysed by dysfunctionality”.
Cameron backs automatic SPA rises

10 Feb 2012

Raise state pension age automatically to avoid pensions “apartheid” between private and public sector, says PM.
Capita takes £17.9m hit over Arch cru

23 Feb 2012

Capita has taken a £17.9m hit in costs in its 2011 results following the collapse of the Arch cru fund range.
Cater Allen Private Bank - Cater Allen Growth Plan 12

7 Feb 2012

Cater Allen Private Bank - Cater Allen Growth Plan 12
Chancellor defends FPC selection criteria

7 Feb 2012

Osborne says he wants FPC members to have “broad and current” experience but says legislating for qualifications would be a mistake.
Charter to the cause

Online - February 2012

Whitechurch Securities client services director Mark Stone has been instrumental in preparing the traditional commission-based business for the RDR arena and describes the difficult decisions that have been made on the way to creating a tiered service proposition. Interview by Cherry Reynard
Chelsea Building Society - Five-Year Fixed Rate Mortgage - Direct

1 Feb 2012

Chelsea Building Society - Five-Year Fixed Rate Mortgage - Direct
Chelsea Building Society - Offset Five-Year Fixed Rate Mortgage - Direct

1 Feb 2012

Chelsea Building Society - Offset Five-Year Fixed Rate Mortgage - Direct
Chelsea Building Society - Offset Two-Year Fixed Rate Mortgage - Direct

1 Feb 2012

Chelsea Building Society - Offset Two-Year Fixed Rate Mortgage - DIrect
Chelsea Building Society - Offset Two-Year Fixed-Rate Mortgage - Direct

1 Feb 2012

Chelsea Building Society - Offset Two-Year Fixed-Rate Mortgage - Direct
Chelsea Building Society - Two-Year Fixed Rate Mortgage - Direct

1 Feb 2012

Chelsea Building Society - Two-Year Fixed Rate Mortgage - Direct
Chelsea Building Society - Two-Year Fixed Rate Mortgage - Direct

1 Feb 2012

Chelsea Building Society - Two-Year Fixed Rate Mortgage - Direct
Chris Davies: The power of relationship capital

22 Feb 2012

Chris Davies says the Towry/Raymond James judgment supports the power of personal client relationships.
CII calls for FCA to consider professionalism

6 Feb 2012

The CII is lobbying MPs for FCA objectives to include requirement for professionalism.
Clarity from Incapital

3 Feb 2012

Incapital Europe - Protected Growth Plan – FTSE 100 Series 6
Close Brothers UK intermediary acquisitions head to retire

28 Feb 2012

Close Brothers Asset Management head of intermediary acquisitions Stuart Dyer is to retire from the business.
Clydesdale tightens interest-only criteria

24 Feb 2012

Lender restricts max LTV to 50% for certain repayment strategies.
Coalition set to debate pension tax relief cuts

13 Feb 2012

Chief secretary to the Treasury Danny Alexander wants to scrap or further restrict higher-rate pension tax relief.
Cofunds appoints sales head from Axa Elevate

22 Feb 2012

Cofunds has appointed a head of strategic partnership managers from Axa Wealth Elevate.
CoreLogic appoints former Accord director Iain Smith

28 Feb 2012

Smith joins as business development director of UK operations.
Corporate advisers letting down DC annuitants - Pensions Institute

6 Feb 2012

Corporate advisers should be doing more to improve the failing annuitisation process for workplace DC schemes that is siphoning off up to £1bn a year from members’ incomes says influential academic Dr Debbie Harrison of the Pensions Institute.
Court rejects Arch cru judicial review for a second time

2 Feb 2012

Justice in Financial Services application for a judicial review of the Arch cru compensation package has been turned down for a second time.
Credit card insurer's shares suspended due to FSA action

21 Feb 2012

CPP says it could go out of business after FSA indicates one of toughest ever penalties for misselling.
Critical reasons to study

Online - February 2012

Peter Cave, chartered financial planner and senior RO5 examiner for the Chartered Insurance Institute, says if candidates want to avoid a rude awakening when they take this protection exam, they need to study the learning outcomes for this paper and not rely on experience in the field
Dear Rob & Roderic...

Online - February 2012

Our resident agony uncles and The Ideas Lab directors Rob Reid and Roderic Rennison answer adviser questions
Defaqto on Barclays/Woolwich 10-year fix

13 Feb 2012

View of Defaqto insight analyst for banking David Black
Defaqto on Incapital's Protected Growth Plan – FTSE 100 Series 6

3 Feb 2012

View of Defaqto insight analyst for funds Fraser Donaldson
Defaqto on Invesco Perpetual's global financial capital fund

17 Feb 2012

View of Defaqto insight analyst for funds Fraser Donaldson
Defaqto on the Dentons' Sipp

24 Feb 2012

View of Defaqto insight analyst for wealth management Andy Leggett
Dentons explores wide investment world with Sipp

16 Feb 2012

Self-invested pension specialist Dentons Pension Management has designed a self-invested personal pension to provide investors with maximum investment choice and flexibility if they need it, with lower annual administration costs if they prefer a simpler strategy.
Dentons Pension Management - Sipp

10 Feb 2012

Dentons Pension Management - Sipp
Deutsche Bank partners with SCM to launch fund of ETFs

22 Feb 2012

Deutsche Bank’s exchange traded fund platform and investment manager SCM Private have partnered to launch a fund of ETFs.
Downing Corporate Finance/NVM Private Equity

21 Feb 2012

Downing Corporate Finance/NVM Private Equity
Dual approach for Dentons' Sipp

24 Feb 2012

Dentons Pension Management - Sipp
DWP eases auto-enrolment admin burden for employers

1 Feb 2012

The Government has announced a series of amendments to automatic enrolment regulations designed to ease the administrative burden on employers.
ECB’s LTRO pumps £446bn into financial system

29 Feb 2012

The European Central Bank boosted the eurozone financial system with almost £450bn in cheap loans this morning.
Ellipse - InteractPlus

17 Feb 2012

Ellipse - InteractPlus
Emerging markets allocation hits dangerous level

15 Feb 2012

Asset allocators have almost doubled the size of their overweight position to emerging markets.
End of stamp duty holiday pushing up sales, says RICS

14 Feb 2012

Surveyors report more sales as first-time buyers look to buy before stamp duty holiday ends.
Enterprise Private Equity - Water Babies Musical UK EIS

6 Feb 2012

Enterprise Private Equity - Water Babies Musical UK EIS
Equitable Life policyholders paid more than £70m

6 Feb 2012

A progress report from the Treasury says £70m has been paid to Equitable Life victims out of the £1.5bn compensation scheme.
EU mortgage rule vote delayed

10 Feb 2012

ECON committee vote on mortgage credit directive delayed to allow time to build consensus.
EU Solvency II for pensions plan risks "significant job losses"

13 Feb 2012

A joint letter to European Commission president from the NAPF, the TUC and the CBI warns proposals will force all DB schemes to close.
European commissioner to ease Solvency II for pensions fears

1 Mar 2012

European commissioner for internal markets and services Michel Barnier says new regulations will not be implemented with a ’silo mentality’.
European regulator warns on quality of advice and products

8 Feb 2012

Investors face a number of problems that “cannot be solved by transparency”, according to Steven Maijoor, the chairman of Esma.
Eurozone agrees €130bn Greece bailout

21 Feb 2012

Greece is set to get its next tranche of bailout money after eurozone leaders announced an agreement with the Greek government.
Eurozone break up ‘nightmare for europhiles’, says Terry Smith

27 Feb 2012

Terry Smith says an exit from the eurozone by Greece may be less “catastrophic” than feared.
Evanridge builds on Swedish success

24 Feb 2012

Evanridge Properties has introduced a fund that opens up the Swedish property market to UK investors.
Evanridge Properties - Evanridge Sweden 3 AB Swedish Residential Property Fund

7 Feb 2012

Evanridge Properties - Evanridge Sweden 3 AB Swedish Residential Property Fund
Excessive regulation "greatest threat" to EM equities, warns UBS

23 Feb 2012

Excessive regulatory efforts are currently posing the greatest threat to emerging market equities, according to UBS Global Asset Management’s Urs Antonioli.
Ex-Credit Suisse traders charged by SEC in £1.9bn bond scam

2 Feb 2012

Four former Credit Suisse investment bankers and traders have been charged by the SEC.
F&C corporate affairs director steps down

9 Feb 2012

F&C head of corporate affairs Jason Hollands will be leaving the group over the next few months and the communications team have been placed at redundancy risk.
F&C to close nine savings plans

29 Feb 2012

F&C is to close nine of its investment trust savings plans that were inherited when it merged with Ivory & Sime.
F&C to rename south east Asia fund

29 Feb 2012

F&C is to rename its south east Asian equity fund as the Asian alpha fund.
Fidelity adds European fund to fast range

9 Feb 2012

Fidelity Worldwide Investment has added to its Fidelity Active Strategy (Fast) range with the addition of the Fast European opportunities fund.
Fidelity launches global high yield fund

28 Feb 2012

Fidelity Worldwide Investment is to launch a global high yield fund for managers Peter Khan and Ian Spreadbury.
Fidelity's Lodha: Oil values are unsustainable

23 Feb 2012

Fidelity’s Amit Lodha is positioning the global real asset securities fund in anticipation of a falloff in oil prices.
First State looks to EM bonds

13 Feb 2012

First State Investments has established an emerging markets bond fund for its recently established emerging markets debt team headed by Helene Williamson.
First-time buyer mortgages up 7% in December

13 Feb 2012

House purchase volumes were stable, increasing 1% between November and December.
Fixed decade from Barclays/Woolwich

13 Feb 2012

Barclays/Woolwich – 10-Year Fixed Rate
For the journey

Online - February 2012

Georgina Partridge of Plutus Wealth Management on how the firm has finally become authorised and is investing in administration and new staff
Ford wants Keydata probe ban over email breach

22 Feb 2012

Keydata founder wants anyone from the FSA who saw protected emails taken off the case.
Former Threadneedle trader investigated for alleged rogue trade

22 Feb 2012

A former trader at Threadneedle is being investigated after an alleged rogue trade was stopped by the asset manager.
Forward thinking

Online - February 2012

I am delighted that Plutus sees more administration and bigger offices as investments and not as costs - that is the thinking of businesspeople.
Four men plead guilty to stock exchange bomb plot

1 Feb 2012

Four men said to have been inspired by al-Qaeda have pleaded guilty to a plot to detonate a bomb at the London Stock Exchange.
FPC must make sure it is listened to

13 Feb 2012

The Financial Policy Committee must make sure it is not ignored - as it has been by Barclays.
Friends comes top in Greenwich corporate pensions ratings

10 Feb 2012

Friends Life, BlackRock and Zurich Corporate Savings have been named as Quality Leaders in DC corporate pensions by Greenwich Associates.
FSA admits legacy ban will push up RDR cost

27 Feb 2012

Regulator had argued previously the legacy ban was priced into earlier RDR cost estimates.
FSA announces pension transfer rule changes

28 Feb 2012

Reforms to the way transfers from DB to DC schemes are calculated could prevent an undervaluation of benefits of up to £20bn.
FSA annual costs up by 16%, MAS budget doubles to £87m

2 Feb 2012

Regulator’s proposed budget for 2012/13 is £578.4m, compared to £500.5m for 2011/12.
FSA awarded legal costs over "unreasonable" referral proceedings

17 Feb 2012

Regulator successfully defends decision to remove permission of accountancy firm.
FSA bans and fines mortgage broker

24 Feb 2012

The FSA has fined Devon-based Mark Joseph Laurenti of Independent Mortgage Advisory Service Limited.
FSA complaint over adviser supervision failure rejected

23 Feb 2012

Client was seeking compensation from FSA claiming the regulator failed to supervise their adviser.
FSA fines Derbyshire firm £97,600 over Ucis failings

15 Feb 2012

The FSA has fined Derbyshire firm Topps Rogers £97,600 for failings related to its unregulated collective investment schemes.
FSA fines ex-Merrill Lynch International director £350k

16 Feb 2012

Regulator has fined former MD in corporate broking for disclosing inside information.
FSA gains injunction against spread bet returns firm

21 Feb 2012

Interim injunction granted by the High Court regarding the Churchgate Trading Syndicate.
FSA indefinitely delays individual registration for mortgage brokers

10 Feb 2012

In December, regulator announced it was delaying individual reg until 2012/13.
FSA launches UBS investigation

3 Feb 2012

The FSA and the Swiss regulator Finma to commence investigation.
FSA may block Lloyds branch sale

9 Feb 2012

Reports suggest the FSA is nervous about the Co-op’s IT capabilities.
FSA offers clarity for firms operating hybrid advice models

27 Feb 2012

FSA guidance says firms offering restricted and independent services post-RDR may need two trading names to separate services.
FSA orders Threadneedle report following rogue trade - reports

24 Feb 2012

The FSA has ordered Threadneedle to carry out a review of its systems and controls after a suspected rogue trade, according to reports.
FSA produces final guidance for Difs

27 Feb 2012

The FSA says that firms can be independent and still recommend distributor-influenced funds.
FSA publishes RDR progress guide for advisers

13 Feb 2012

Regulator helps firms assess progress on professionalism standards, choosing between independent and restricted advice, and charging fees.
FSA refers life settlements distribution agent to enforcement

20 Feb 2012

The FSA has referred London-based Catalyst Investment Group to its enforcement and financial crime division.
FSA refuses to budge on re-reg advice definition

27 Feb 2012

FSA confirms platform re-registration classed as non-advised post-RDR, therefore allowing legacy commission to continue to be paid.
FSA says no evidence of investment bond bias

27 Feb 2012

Regulator rejects IMA’s argument that allowing trail to continue for fund switches within life products will distort the market.
FSA sets out 'specialist' independent advice boundaries

27 Feb 2012

FSA says firms can specialise in specific forms of advice and still meet independence requirements
FSA sets out when trail can be paid post-RDR

27 Feb 2012

Regulator responds to industry feedback over lack of clarity of how the legacy commission ban will affect trail commission.
FSA shuts down sale and rent-back market

3 Feb 2012

The FSA has today published a report that shows most sale-and-rent-back transactions were either unaffordable or unsuitable and never should have been sold.
FSA UK banking head steps down

22 Feb 2012

Head of large complex UK banks Mandy Spink has decided to leave the regulator.
FSA updates RDR FAQs

28 Feb 2012

Regulator updates guidance on the 10 most frequently asked questions at RDR roadshows following industry feedback.
FSA warns on 'default' suitability of independent advice solutions

27 Feb 2012

The regulator says investment tools must not be the default solution for all clients.
FSA: Industry is not learning from past misselling scandals

24 Feb 2012

Regulator says industry only has itself to blame for low consumer confidence in financial services.
FSCS offers early settlement discount to Keydata IFAs

14 Feb 2012

Compensation scheme is making the offer to Keydata distributors with claims against them of less than £50,000.
FTSE rises on Greece and China news

20 Feb 2012

FTSE 100 rises amid hopes for a new bailout for Greece.
FTSE rises on Greece austerity vote

13 Feb 2012

The FTSE 100 has risen in early trades on the back of the decision by Greek MP’s to pass a new austerity package.
FundsNetwork seals Barclays Stockbrokers tie-up

22 Feb 2012

Barclays Stockbrokers appoints Fidelity FundsNetwork as its exclusive fund platform.
Further £50bn QE likely

6 Feb 2012

The Bank of England is expected to announce a further round of QE on Thursday.
Garry Heath: Aifa is trapped and must be reformed

1 Feb 2012

Garry Heath says Aifa has no bargaining tools in the face of a basket-case RDR.
Geffen defends Neptune income fund

14 Feb 2012

Robin Geffen has spoken out against the inclusion of the Neptune income fund in Principal Investment Management’s “grey list” study of UK equity income funds.
Geffen fires warning to Prudential over Hong Kong move

29 Feb 2012

Neptune founder says move raises concerns over Prudential’s “financial health”.
Gilliat Financial Solutions – Dual Defensive Kick Out – April 2012

23 Feb 2012

Gilliat Financial Solutions – Dual Defensive Kick Out – April 2012
GLG to soft close Japan fund until liquidity improves

13 Feb 2012

The £1.1 billion GLG Japan CoreAlpha fund will be soft closed next month.
Global economy in ‘painful deleveraging process’, says Liontrust

27 Feb 2012

James Inglis-Jones has warned that the global economy is in a “very painful deleveraging process” after debts increased to unprecedented levels.
Google axes UK mortgage plans

8 Feb 2012

Google has scrapped plans for a UK mortgage comparison service after closing its US version.
Government considers £50K annual allowance cut

14 Feb 2012

The Government is considering proposals to cut the annual allowance for tax-privileged pension saving, according to reports.
Government ignores TSC warnings over BofE governance

7 Feb 2012

TSC not given veto over future Bank governor appointments.
Government tightens asset-backed pension contribution rules

22 Feb 2012

PricewaterhouseCoopers says changes to HMRC rules will force pension schemes to revisit previously agreed funding deals.
Govt must do more to encourage saving, says think tank

13 Feb 2012

The IPPR says Government must help “squeezed generation” to save if they want to boost home ownership.
Govt urged to address small pot advice problem

1 Mar 2012

Open letter to ministers and the FSA calls for urgent ’retirement incomes summit’ to address concerns of post-RDR advice gap for small pension funds.
Govt wants European workers exempt from auto-enrolment

20 Feb 2012

DWP says auto-enrolling staff working in UK for firms based in Europe would be “complex and costly”.
Grant Thornton appoints head of financial planning

15 Feb 2012

Grant Thornton has appointed Coutts & Co managing partner Martin Young to grow its financial planning team.
Greece downgraded after bailout deal

23 Feb 2012

Fitch Ratings has downgraded Greece’s credit rating to C after the country came to an agreement on the terms of a second bailout package.
Greece downplays S&P selective default downgrade

28 Feb 2012

S&P has cut Greece’s credit rating to “selective default”.
Greece passes controversial austerity package

13 Feb 2012

Austerity package passed as rioting erupts across the country.
Gross lending up 10% year-on-year in January

20 Feb 2012

Gross mortgage lending totalled £10.5bn in January.
Halifax increases SVR cap

28 Feb 2012

SVR increased from 3% above base to 3.75% above base for certain customers.
Halifax Intermediaries ups max LTV to 90% for new-build houses

2 Feb 2012

Previous maximum LTV was 80%.
Hargreaves reports 28% profit rise despite fund sales slowdown

9 Feb 2012

Hargreaves grew its pre-tax profits to £72m in the six months to December 31.
Head start for Ellipse group income protection

24 Feb 2012

Ellipse - InteractPlus
Helm Godfrey launches small pots annuity service

14 Feb 2012

The adviser firm’s iRetire service offers customers with pension pots of £20,000 or more advice on their retirement options.
Henderson drops absolute return label from European fund

21 Feb 2012

Firm renames £8m European absolute return fund as the Henderson Gartmore European equity long/short fund.
Henderson pre-tax profits jump 58%

29 Feb 2012

Henderson Group has reported underlying pre-tax profits of £159.2m in for 2011.
Henderson to merge away 12 funds

14 Feb 2012

Henderson has announced plans to merge away 12 funds as it continues to rationalise its range following the acquisition of both New Star and Gartmore.
High levels of opt-outs amongst younger workers predicted

6 Feb 2012

More than half of corporate financial advisers think that up to 30 per cent of UK workers could opt out of pensions into which they have been automatically enrolled, according to research from Aviva.
HMRC confirms VAT-exempt advice guidance

29 Feb 2012

Advice process will be exempt where clients are looking to take out a retail investment product.
HMRC extends Liechtenstein Disclosure Facility

8 Feb 2012

2,000 UK taxpayers have come clean under the agreement.
HMRC suspends business record checks

6 Feb 2012

After criticism of regulatory burden on small firms, HMRC review says new, more targeted approach is needed.
HMRC tightens up oversight of large tax settlement deals

27 Feb 2012

Move comes after MPs criticism of tax deal involving Goldman Sachs which “ripped-off” taxpayer to tune of £10m.
HMRC to amend annuity adviser charging rules

22 Feb 2012

HMRC will not force people to take an adviser charge from pensions tax-free cash.
HMRC to launch 30 tax dodger task forces

23 Feb 2012

Teams to focus on high risk sectors including fashion industry and motor trade.
Holloway Friendly pays 96% of IP claims

14 Feb 2012

Payout rate is increase on 95.5% of claims paid out in 2010.
Honister Capital chief exec steps down

29 Feb 2012

Honister Capital chief executive Richard Pearson is leaving the firm after less than a year in the role.
Horlick launches Rockpool Investments

28 Feb 2012

Nicola Horlick, chief of Bramdean Asset Management, will chair a newly-launched private equity investing business, Rockpool Investments.
How the Chancellor's new control powers will work

7 Feb 2012

Power depends on Bank informing Chancellor of material risk to public funds - but what if governor and Chancellor disagree, again.
HSBC could face US criminal charges and "significant" fines

29 Feb 2012

The bank is reportedly being investigated over possible violations of the US Bank Secrecy Act.
HSBC reports 12% rise in gross mortgage lending in 2011

27 Feb 2012

HSBC has reported gross mortgage lending of £13.2bn for 2011, up 12.2% on the £11.8bn it lent in 2010.
HSBC to claw back bonuses for misselling

27 Feb 2012

HSBC is set to strip executives of thousands of pounds in bonuses for misselling almost £300m of long-term care bonds to elderly customers.
If you do nothing else this month...platform reviews

Online - February 2012
IFA jailed for stealing over £1m from clients

24 Feb 2012

Derbyshire-based former IFA Malcolm Green admitted 42 counts of fraud, false accounting and obtaining money transfers by deception.
IFA social media pilot launches

29 Feb 2012

Financial technology firm cloudFinS launches pilot to work with IFA firms to create social media networks and remain FSA compliant.
IFS: HMRC 50p review "too narrow" for proper assessment

1 Feb 2012

The Institute for Fiscal Studies says time should be taken to gather evidence on move.
Incapital Europe/Morgan Stanley IQ - Morgan Stanley Accumulator Deposit Plan

22 Feb 2012

Incapital Europe/Morgan Stanley IQ - Morgan Stanley Accumulator Deposit Plan
Income additions for SLI's MyFolio

24 Feb 2012

Standard Life Investments has expanded its MyFolio fund of funds range with two types of income fund ranges, multi-manager income and managed income.
Income fund staple AstraZeneca warns on 2012 earnings

2 Feb 2012

Firm also announces 7,300 job cuts.
Income protection taskforce arranges sales shortage summit

13 Feb 2012

Summit will take place on April 18 and all major IP providers will be invited.
Inflows into fixed income funds rocket, says IMA

27 Feb 2012

Fixed income funds started the year with the highest level of retail sales since October 2010, reports the Investment Management Association.
Insight multi-asset head Pingerra quits

17 Feb 2012

Mike Pingerra, the head of multi-asset at Insight Investments, is to leave the firm.
Intelligent Pensions recruits John Moret as non-exec chairman

21 Feb 2012

Former Suffolk Life marketing director John Moret joins Intelligent Pensions as non-executive chairman.
Invesco fund sees value in financials

17 Feb 2012

Invesco Perpetual - Global Financial Capital Fund
Invesco Perpetual - Global Financial Capital Fund

10 Feb 2012

Invesco Perpetual - Global Financial Capital Fund
Invesco Perpetual launches three multi-asset funds

20 Feb 2012

Invesco Perpetual has launched three balanced funds managed by chief investment officer Scott Wolle.
Invesco’s Read and Causer pulled from SJP fund

22 Feb 2012

SJP is to pull the management of the £235m SJP Investment grade corporate bond fund from Invesco Perpetual’s Paul Read and Paul Causer.
Investec Structured Products - FTSE 100 3-Year Deposit Plan 32

28 Feb 2012

Investec Structured Products - FTSE 100 3-Year Deposit Plan 32
Investec Structured Products - FTSE 100 6-Year Kick Out Plan 1

27 Feb 2012

Investec Structured Products - FTSE 100 6-Year Kick Out Plan 1
Investec Structured Products - FTSE 100 Accelerated Growth Plan 32

28 Feb 2012

Investec Structured Products - FTSE 100 Accelerated Growth Plan 32
Investec Structured Products – FTSE 100 Bonus Income Plan 22

27 Feb 2012

Investec Structured Products – FTSE 100 Bonus Income Plan 22
Investec Structured Products - FTSE 100 Deposit Growth Plan 15

29 Feb 2012

Investec Structured Products - FTSE 100 Deposit Growth Plan 15
Investec Structured Products - FTSE 100 Enhanced Kick Out Plan 27

28 Feb 2012

Investec Structured Products - FTSE 100 Enhanced Kick Out Plan 27
Investec Structured Products - FTSE 100 Geared Returns Plan 32

29 Feb 2012

Investec Structured Products - FTSE 100 Geared Returns Plan 32
Investec Structured Products - FTSE 100 Kick-Out Deposit Plan 27

27 Feb 2012

Investec Structured Products - FTSE 100 Kick-Out Deposit Plan 27
Investment Funds Association merges into Tisa

16 Feb 2012

The Investment Funds Association is to merge into the Tax Incentivised Savings Association to boost its distributor funds efforts.
Investment returns boost Friends Life with-profits payouts

10 Feb 2012

Friends Life has increased or held bonus rates for the majority of its 1.7 million with-profits customers.
January house prices down 1.8% year-on-year, says Halifax

6 Feb 2012

Average UK house price now £160,907.
Judge dismisses 'unsustainable' Towry claims

15 Feb 2012

Full details of yesterday’s court verdict.
Jupiter's de Blonay makes bank buys in special sits move

16 Feb 2012

Jupiter fund manager Guy de Blonay has invested in a raft of European banking stocks across his £500m financial opportunities fund
Just Retirement Q2 sales rise 30% to £324m

7 Feb 2012

Provider reports £74m increase in new business in the final three months of 2011, driven by strong annuity and equity release sales.
Kames Capital calls for clarity over Dilnot report

21 Feb 2012

Kames Capital has called for greater transparency from the Dilnot report, claiming it has left many questions unanswered.
King defends banks' loss-making asset sales

29 Feb 2012

Mervyn King defended moves by UK banks to sell assets at a loss when he appeared in front of the TSC this morning.
L&G cuts with-profits bonus rates

16 Feb 2012

L&G cuts bonus rates by 0.25 per cent on average.
L&G Mortgage Club offers Newcastle 95% LTV fix

14 Feb 2012

Legal & General Mortgage Club is offering an exclusive Newcastle Building Society 2-Year 5.95 per cent fixed rate mortgage to 95 per cent of valuation.
L&G offers Newcastle 95% LTV 2-year fixed

17 Feb 2012

Legal & General Mortgage Club is offering an exclusive Newcastle Building Society 2-Year 5.95 per cent fixed rate mortgage to 95 per cent of valuation.
Labour backs TSC in row over BoE accountability

20 Feb 2012

Labour backs committee proposals for boosting accountability that were rejected by Government.
Labour demands greater focus on consumer protection

7 Feb 2012

Labour has called for a raft of changes to the Government’s financial regulation plans before it will back the proposals.
Labour hires Strategic Society Centre director to advise on long-term care talks

15 Feb 2012

Labour has recruited Strategic Society Centre director James Lloyd to advise shadow ministers on forthcoming cross-party talks on social care reform.
Labour moves to broaden FPC membership defeated

24 Feb 2012

Amendments to give committee more external members and ensure diversity defeated in Parliament
Labour sets out vision for FPC

21 Feb 2012

Labour wants financial stability regulator to consider UK’s international competitiveness and Government policy.
Labour wants FCA to be required to publish minutes

27 Feb 2012

After Govt says publication of minutes is a matter for board, Labour tables financial services bill amendment to make it mandatory.
Labour wants new regulator's 'value for money' remit extended

20 Feb 2012

Call for FCA’s competition objective to be extended to consider how consumers can find appropriate value for money products.
Labour: We must pass fiscal credibility test

21 Feb 2012

Shadow chief secretary Rachel Reeves turns on Government’s economic record to reinforce Labour’s new fiscally responsible image.
Leader

Online - February 2012

There is nothing like a deadline to focus the mind. There is just one year to go until the FSA expects full compliance with the RDR, which may induce a warm and fuzzy feeling in those that see the exhausting process of transition finally coming to a close or blind panic in those who have yet to re-engineer their business.
Leeds BS makes interest-only changes

20 Feb 2012

Leeds cuts max LTV from 70% to 50% for loans where repayment strategy is the sale of the property.
Leeds BS reports 25% lending increase in 2011

21 Feb 2012

Society lends £1.2bn in 2011, up 25% on £984m advanced in 2010.
Legal & General - Growth Plan 5

6 Feb 2012

Legal & General - Growth Plan 5
Legal & General - Six-Year Growth Deposit Bond 12

6 Feb 2012

Legal & General - Six-Year Growth Deposit Bond 12
Legal & General cuts charges for index range

1 Feb 2012

Legal & General Investments has cut the charges on its index fund range.
Legal & General Mortgage Club - Newcastle Building Society 2-Year 6.25% Fixed to 95% LTV

7 Feb 2012

Legal & General Mortgage Club - Newcastle Building Society 2-Year 6.25% Fixed to 95% LTV
Legal & General Mortgage Club - Newcastle Building Society 2-Year 5.95% Fixed to 95% LTV

7 Feb 2012

Legal & General Mortgage Club - Newcastle Building Society 2-Year 5.95% Fixed to 95% LTV
Lib Dems call for progress on £10k personal allowance

29 Feb 2012

Liberal Democrats sign motion calling for Chancellor to go “further and faster” on coalition commitment
Lifemark moves closer to liquidation

6 Feb 2012

Proposal to run off the Lifemark portfolio means FSCS is unlikely to recoup industry money paid out to compensate Keydata investors.
Lifemark vote kick-starts liquidation process

17 Feb 2012

FSCS has also advanced a $10m loan to prop up the Lifemark portfolio.
Lifesearch in deal with comparethemarket.com

22 Feb 2012

Comparethemarket.com has entered into an exclusive deal with Lifesearch to refer users looking for life insurance to the telephone-based adviser.
Lloyds announces nearly 1,000 job cuts

7 Feb 2012

Bank is closing its Romford, Newcastle and Scunthorpe site, with its Leeds site also impacted.
Lloyds Banking Group deputy chairman to retire

27 Feb 2012

Glen Moreno will step down at AGM on May 17.
Lloyds' buyout arm to bid for Bluefin

13 Feb 2012

LDC, private equity firm ECI Partners, Aon and JLT Group are all reported to be interested in acquiring the Axa-owned advisory business.
Lloyds leads FOS top 10 complaints list

28 Feb 2012

FOS received 20,310 complaints about Lloyds, and 12, 273 complaints against Barclays.
Lloyds makes further restrictions to interest-only offering

15 Feb 2012

Lloyds Banking Group is making a number of restrictions to its interest-only offering from tomorrow.
Lloyds posts £3.5bn loss after PPI hit

24 Feb 2012

Bank posts big loss after setting £3.2bn aside to cover missold PPI.
Lloyds to clawback senior exec bonuses over PPI misselling

20 Feb 2012

Former Lloyds chief executive Eric Daniels will lose at least £360,000 of his 2010 bonus, while four other directors are each set to lose £250,000.
Logical addition to smaller companies range by Standard Life Investments

13 Feb 2012

Standard Life Investments - Global Smaller Companies Fund
LV= Flexible Transitions Account Low Cost Option

22 Feb 2012

LV= Flexible Transitions Account Low Cost Option
LV= launches 0.25% AMC Sipp option

13 Feb 2012

The new product has an annual service charge of 0.25 per cent and offers investors the choice of 130 funds from 16 fund managers.
LV= launches free trust builder tool

21 Feb 2012

Tool helps advisers write new and existing life policies in trust.
LV= pays 95% of protection claims in 2011

15 Feb 2012

LV= pays 91% of IP claims, 88% of CI claims and 100% of life claims.
M&G tops sales table for third consecutive year

14 Feb 2012

M&G has topped the list of fund manager sales of investment funds in the UK in 2011, according to the Pridham report published by Fundscape.
M&G's Lord warns Bank switch to CPI could create two-tier gilt market

23 Feb 2012

M&G inflation linked corporate bond fund manager Ben Lord says a switch to CPI-linked gilts could create a two-tier gilt market.
Man jailed for seven years over £8m mortgage fraud

21 Feb 2012

Mohammed Asif Younas submitted 33 fraudulent applications in two month period.
Margaret Cole to leave FSA

15 Feb 2012

Managing director and FSA board member Margaret Cole will leave the regulator later this year.
Mark Lyttleton to step down from BlackRock UK fund

21 Feb 2012

BlackRock’s Mark Lyttleton is to stand down as fund manager of the £447m BlackRock UK fund.
Martin Currie merges funds

29 Feb 2012

Martin Currie has merged the £44m global fund and £28m North American Alpha fund into existing funds in the range.
Martin Werth: Reality has struck the protection market

14 Feb 2012

Martin Werth says people have finally realised the importance of having protection cover.
Merchant Capital - Deposit Plan: FTSE Bull & Bear issue 1

10 Feb 2012

Merchant Capital - Deposit Plan: FTSE Bull & Bear issue 1
Merchant Capital - Growth Plan - FTSE Bull & Bear Issue 2

6 Feb 2012

Merchant Capital - Growth Plan - FTSE Bull & Bear Issue 2
Merchant Capital appoints Reyker Securities to take over as custodian

17 Feb 2012

Merchant Capital has appointed Reyker Securities to handle client monies in its structured products division to replace Pritchard Stockbrokers.
Merchant Capital goes with the flow

17 Feb 2012

Structured product provider Merchant Capital has introduced a structured deposit that gives investors a chance to benefit from a fall in the FTSE 100 as well as any growth in the index.
Merchant Capital introduces bull & bear deposit

16 Feb 2012

Structured product provider Merchant Capital has introduced a structured deposit that gives investors a chance to benefit from a fall in the FTSE 100 as well as any growth in the index.
Merchant Capital makes plans after FSA action on Pritchard

13 Feb 2012

Merchant Capital has been forced to make provisions for its structured products division after the FSA took action over Pritchard Stockbrokers.
Merchant Capital unsure whether clients will suffer economic loss

16 Feb 2012

Structured product provider is awaiting news on the implications for client monies after the FSA suspended Pritchard Stockbrokers authorisation.
Merchant won't rule out income delays after stockbroker suspension

22 Feb 2012

Merchant House Group has refused to rule out delays to Merchant Capital investors’ income payments.
Meteor Asset Management - 3-Year Defensive Growth Plan

5 Feb 2012

Meteor Asset Management -3-Year Defensive Growth Plan
Meteor Asset Management - Premium Kick-Out Plan

22 Feb 2012

Meteor Asset Management - Premium Kick-Out Plan
Meteor Asset Management - Prima Platinum Plan 15

15 Feb 2012

Meteor Asset Management - Prima Platinum Plan 15
MetLife confirms guarantee tie-up with BlackRock

27 Feb 2012

Charges on new managed wealth portfolio funds start from 0.4 per cent, with product charges from 0.35 per cent.
MM Podcast: Tax efficiency or tax avoidance?

16 Feb 2012

New Economics Foundation and International Financial Centres Forum go head to head on offshore centres and tax.
Money Advice Service defends A4e relationship

24 Feb 2012

Police are investigating fraud allegations at A4e, which delivers face-to-face advice for the MAS.
Morningstar promotes Romer-Lee to MD of Euro business

21 Feb 2012

Morningstar has appointed Richard Romer-Lee as managing director for the firms’ European investment consulting business.
Mortgage broker jailed for fraud

2 Mar 2012

A fraudulent mortgage broker has been sentenced to two and a half years in prison following an investigation by financial investigators from the Metropolitan Police Service.
Most people have zero risk appetite, FSA finds

3 Feb 2012

The majority of people have no risk appetite at all when it comes to investments, the latest research by the FSA shows.
MPC split over size of QE required

22 Feb 2012

David Miles and Adam Posen voted for £75bn extra QE, instead of the £50bn announced.
MPs launch workplace pension inquiry

27 Feb 2012

Work and pensions committee seeks to add to findings of its auto-enrolment inquiry.
MPs say Govt must help stimulate LTC market

8 Feb 2012

Health select committee moves to make sure people can buy products to cover costs of long-term care.
MPs warn regulatory change could create 'defective' system

28 Feb 2012

The Treasury select committee has attacked the Government’s latest proposals for the FCA .
Mutuals' gross mortgage lending up 32%

29 Feb 2012

Gross mortgage lending up 32% and approvals up 54% in January.
N&P forced to withdraw 3.99% 10-year fixed

6 Feb 2012

Lender says unprecedented demand has forced it to withdraw product.
NAB to carry out strategic review of Clydesdale and Yorkshire

7 Feb 2012

UK economic performance and eurozone crisis prompts review of UK businesses.
NAPF: Savers face £1bn hit from 'unfair and opaque' annuity system

4 Feb 2012

Joint report by the National Association of Pension Funds and the Cass Business School calls for a range of fundamental reforms to the way people shop around for a retirement income.
Narrow margin

Online - February 2012
Nationwide launches Isa account for FTBs

13 Feb 2012

Lender launching tax-free savings account aimed at FTBs saving for a deposit.
NatWest Intermediary Solutions - Corporate Range 18-Month Tracker

29 Feb 2012

NatWest Intermediary Solutions - Corporate Range 18-Month Tracker
NatWest Intermediary Solutions - Corporate Range 2-Year Fixed Rate

29 Feb 2012

NatWest Intermediary Solutions - Corporate Range 2-Year Fixed Rate
Net retail sales fall 40% in 2011, IMA stats

3 Feb 2012

The IMA has seen net retail sales fall 40 per cent to £18bn in 2011.
New directory launches for online advice sources

6 Feb 2012

Guide to Advice will feature independent, restricted and simplified advice firms, plus money coaching and execution-only services.
New range of BTLs from the Mansfield

10 Feb 2012

Mansfield Building Society has introduced a new range of buy-to-let deals for up to 70 per cent of valuation, including a three-year discounted rate buy-to-let at 3.8 per cent.
Octopus Investments caught up in Glasgow Rangers admin woes

17 Feb 2012

Ticketing firm owned by Octopus Investments has been caught up in the Rangers FC administration saga.
OFT chief executive John Fingleton resigns

23 Feb 2012

The Office of Fair Trading chief executive John Fingleton is leaving the firm after seven years.
ONS stats confirm Isas more popular than pensions

29 Feb 2012

A J Bell marketing director Billy Mackay says it is the first time Isa saving has outstripped personal pension saving since 2001/02.
Openwork sets up adviser loan deal

28 Feb 2012

The cash flow finance initiative will give advisers access to loans with Openwork paying broker fees.
Parliament debates unlimited liability for directors

29 Feb 2012

Parliament set to debate proposals for financial institution directors to face unlimited liability for firm’s losses.
Paymentshield faces legal action for slashing commission

6 Feb 2012

Broker alleges commission cut is a breach of contract.
Pensions industry urged to build compulsory annuity "clearing house"

27 Feb 2012

Centre for Policy Studies research fellow Michael Johnson says proposal would improve transparency and introduce “pricing tension” in the market.
Pensions regulator bans three trustees for "serious and persistent" investment breaches

8 Feb 2012

An investigation by The Pensions Regulator reveals the “vast majority” of investments made by the Hugh Mackay trustees were in property ventures.
Pensions regulator to scrutinise multi-employer schemes

29 Feb 2012

TPR highlights concerns in document outlining its approach to the regulation of employers and pension schemes ahead of automatic enrolment.
Personal Touch CEO Doug Crawford steps down

8 Feb 2012

Crawford replaced by non-exec Max Wright until replacement is found.
Phoenix Group terminates talks with private equity firm

10 Feb 2012

Phoenix Group has terminated takeover talks with private equity firm CVC.
Phoenix to hold annual with-profits bonuses at "low to nil"

20 Feb 2012

Closed life provider gives priority to final bonus rates and warns annual bonus rates will be “low to nil” in the short-term.
Poor pension choices could equate to 5 years of extra contributions

9 Feb 2012

NAPF and PPI report says high charges and poor annuity choices could slash retirement income.
Posen: "Credit ratings not be all and end all"

29 Feb 2012

MPC member Posen says UK’s economic credibility would withstand a downgrade.
PosSol chief exec Jim Reeve steps down

22 Feb 2012

Positive Solutions chief executive Jim Reeve is leaving the firm to be replaced by commercial director Peter Coleman.
PPI redress hit £1.9bn in 2011

22 Feb 2012

Payments hit £441m in December, the largest month yet for PPI payouts.
Practitioner Panel warns FCA will be able to ignore it

28 Feb 2012

The Financial Services Practitioner Panel says FCA must retain requirement to explain rejected panel recommendations.
Principality’s mortgage lending climbs 7% to £1bn in 2011

2 Feb 2012

Lender makes £24.5m profit in 2011, 20.5% on £30.8m profit the year before.
Private equity firm takes joint control of wrap provider FNZ

8 Feb 2012

General Atlantic has taken joint control of wrap software provider FNZ Group, alongside HIG Capital and FNZ senior management.
Prosper and Act tread the boards with theatre EIS

8 Feb 2012

The theatre fund is an enterprise investment scheme that aims for growth by investing in a portfolio of four to 12 West End theatre production companies.
Pru rolls out financial planning service

7 Feb 2012

Service will target existing customers who came to the Pru through its direct sales force.
Prudential cuts annual with-profits bonus rates

28 Feb 2012

Prudential says the reduction in annual bonuses was “inevitable” as economic uncertainty impacts on investment returns.
Prudential may move headquarters to Hong Kong

27 Feb 2012

Prudential is looking at plans to switch its main headquarters from London to Hong Kong in response to regulatory burdens from Solvency II.
PSigma set to wind up European income fund

28 Feb 2012

The PSigma European income fund is to close after failing to attract new investors.
PTFS chief exec Doug Crawford to join conveyancer

13 Feb 2012

Crawford will join My Home Move in April as its new chief executive.
Punter Southall acquires PSigma Asset Management

3 Feb 2012

Punter Southall Group has taken 100% ownership of joint venture PSigma Asset Management.
Punter Southall buys rest of PSigma

6 Feb 2012

Punter Southall has taken 100 per cent ownership of fund management boutique PSigma Asset Management.
QE3 piles more pain on pensions

9 Feb 2012

The Bank of England’s decision to pump a further £50bn into the UK economy is predicted to lead to falling annuity rates and rising pension fund deficits.
Quick off the benchmark

Online - February 2012

The payback for participating in benchmarking is that IFA firms are aware of what the rest of the IFA market is doing and what sort of action needs to be taken to retain revenues and profitability
RAM and Goldfield follow up solar EIS

10 Feb 2012

RAM Capital and Goldfield Partners have introduced a follow-up to the Goldfield Solar enterprise investment scheme, which closed in December having reached its £10m subscription target.
RAM Capital Partners/Goldfield Partners - Gaia Power Systems

29 Feb 2012

RAM Capital Partners/Goldfield Partners - Gaia Power Systems
Rathbone Unit Trust Management - Fund Range update

20 Feb 2012

Rathbone Unit Trust Management - Fund Range update
Rathbones launches RDR share classes

16 Feb 2012

Rathbone Unit Trust Management is to launch clean fee share classes across its fund range from March.
Rathbones reports 30% increase in pre-tax profits

21 Feb 2012

Rathbone Brothers has reported a 30% increase in pre-tax profits for the year to December 31, 2011.
Raymond James advisers express anger over Towry allegations

15 Feb 2012

Anger expressed over Towry’s unfounded allegations that they conspired to break their Edward Jones contracts.
RBS bankers arrested in HMRC tax probe

13 Feb 2012

Four current RBS staff, one former employee, and staff from two other banks have been arrested in a tax fraud investigation, according to reports.
RBS posts £2bn loss for 2011

23 Feb 2012

RBS hands out £785m in bonuses despite reporting a loss of £2bn.
Regulators sound alarm over "dodgy" pension loan deals

25 Feb 2012

Joint investigation by The Pensions Regulator, the FSA and HMRC reveals £200m has been transferred into pension loan schemes.
Reinsurer says certain death benefits are overlooked

7 Feb 2012

RGA warns advisers their customers could be missing out on benefits when claiming under life policies.
Repeat offender Swip leads Bestinvest "dog" funds list

21 Feb 2012

Bestinvest has revealed that more than £9.2bn was held in underperforming dog funds.
Repossession avoidance firm opens doors to intermediaries

28 Feb 2012

Firm decides to offer services through intermediaries two years after setting up.
Repossessions up 5% year-on-year in Q4 2011

9 Feb 2012

There were 8,500 repossessions in Q4 2011 compared to 8,100 the year before.
Research engine

Online - February 2012

Advisers will need to consider a wide range of investment solutions to retain their independent tag, which is where good quality research teams show their value with their understanding of both adviser and client.
Research highlights 'unacceptable' cautious fund underperformance

9 Feb 2012

The number of underperforming funds on Chelsea Financial Service’s RedZone list has “fallen dramatically” at the start of the new year.
Rob Sinclair: The agenda for a new Ami

22 Feb 2012

Rob Sinclair says the new Ami faces a number of challenges in the next few months.
Rock sale to Virgin Money was 'best deal for taxpayer'

28 Feb 2012

UKFI says Northern Rock sale will bring in £1bn in total with repayment of Government loans netting £11bn in next 15 years.
RSM Tenon appoints former Matrix CEO as chief exec

15 Feb 2012

RSM Tenon has appointed former Matrix CEO Chris Merry as its chief executive officer.
RSM Tenon to cut 10% of jobs in bid to reduce costs

29 Feb 2012

Firm plans to make an annual saving of £14m.
Saffron BS sells IFA business to Towergate

14 Feb 2012

Deal sees firm, under Towergate’s stewardship, providing advice to Saffron customers.
Sam Liddle to leave MAM this month

24 Feb 2012

MAM fund manager Sam Liddle will leave the firm at the end of the month to pursue business interests outside of the asset management industry.
Sanlam UK to offer "hybrid" advice model

23 Feb 2012

Sanlam UK has partnered with Wiltshire-based financial planning firm Statehouse Financial Management to offer its clients hybrid advice model.
Santander fined £1.5m over structured product marketing

20 Feb 2012

Regulator has fined Santander over lack of clarity of how FSCS compensation would relate to its structured products.
Santander reduces interest-only LTV to 50%

8 Feb 2012

The change applies to both Santander and Abbey for Intermediaries’ lending criteria from Friday.
Sants warns of 'tick box regulation' from Europe

6 Feb 2012

FSA chief executive believes European approach to regulation creates a ’bias to data’ which goes against individual risk assessment of firms.
Saving into occupational pensions at 15-year low

24 Feb 2012

ONS figures show 48 per cent saving into workplace pensions, mostly in the public sector.
Schroders to launch Asia smaller companies fund

13 Feb 2012

Schroders is to launch an Asia and emerging regions “discovery” fund investing in smaller companies.
Schroders to launch European total return fund

27 Feb 2012

Schroders will launch an offshore fund targeting European equities for one of its new recruits next month.
Schroders to launch strategic bond fund

7 Feb 2012

Schroders is to launch a strategic bond fund for ex-GLG manager Gareth Isaac and former UBS head Bob Jolly.
SCM slams US asset managers over portfolio disclosure

14 Feb 2012

SCM Private has also warned that absolute return funds could be the next misselling scandal.
Scot Wids to re-enter IFA annuity market and exit offshore bonds

7 Feb 2012

Provider is also researching future entry into the IFA protection market following a strategic review.
Simple products steering group starts work

8 Feb 2012

Treasury launches group with task of aiding development of suit of simple financial products
SJP appoints former Sunday Telegraph editor as non-exec

22 Feb 2012

Baroness Patience Wheatcroft to join as a non-executive director.
SJP sees distribution profits rise 5 per cent

22 Feb 2012

St. James’s Place announces pre-tax profits rise of 5 per cent for distribution business.
SJP switches equity and bond mandate to Pimco

27 Feb 2012

The recent launch of a multi-asset fund by SJP will result in the American firm Pimco replacing Jupiter Asset Management on a mandate worth more than £500m.
Skandia appoints head of UK distribution

22 Feb 2012

Skandia Investment Group has appointed Warren Tonkinson as head of UK distribution
Skandia tops The Platforum Q4 leaderboard

24 Feb 2012

Skandia has finished top of The Platforum leaderboard while Nucleus and Novia both pick up adviser awards.
Skipton Building Society - 2-Year Fixed Buy-to-Let to 70% LTV

16 Feb 2012

Skipton Building Society - 2-Year Fixed Buy-to-Let to 70% LTV
Skipton Building Society - 2-Year Fixed Buy-to-Let to 70% LTV: Low Fee Option

16 Feb 2012

Skipton Building Society - 2-Year Fixed Buy-to-Let to 70% LTV: Low Fee Option
Skipton Building Society - 3-Year Fixed Rate Buy-to-Let to 70% LTV

16 Feb 2012

Skipton Building Society - 3-Year Fixed Rate Buy-to-Let to 70% LTV
Skipton Building Society - 5-Year Fixed Buy to Let to 70% LTV

15 Feb 2012

Skipton Building Society - 5-Year Fixed Buy-to-Let to 70% LTV
Spicerhaart surveyor subsidiary goes into liquidation

16 Feb 2012

Parent Spicerhaart says it put surveyor into liquidation due to “spurious” claims regarding alleged false valuations.
St James Development - London Property Fund

29 Feb 2012

St James Development - London Property Fund
Standard Chartered chief risks FSA inquiry over share deal

14 Feb 2012

Standard Chartered Asia chief executive Jaspal Singh Bindra used 153,000 bank shares as security for a £2.1m loan.
Standard Life Investments - MyFolio Managed Income I

9 Feb 2012

Standard Life Investments - MyFolio Managed Income I
Standard Life Investments - MyFolio Managed Income II

9 Feb 2012

Standard Life Investments - MyFolio Managed Income II
Standard Life Investments - MyFolio Managed Income III

9 Feb 2012

Standard Life Investments - MyFolio Managed Income III
Standard Life Investments - MyFolio Managed Income IV

9 Feb 2012

Standard Life Investments - MyFolio Managed Income IV
Standard Life Investments - MyFolio Managed Income V

9 Feb 2012

Standard Life Investments - MyFolio Managed Income V
Standard Life Investments - MyFolio Multi Manager Income I

8 Feb 2012

Standard Life Investments - MyFolio Multi Manager Income I
Standard Life Investments - MyFolio Multi Manager Income II

8 Feb 2012

Standard Life Investments - MyFolio Multi Manager Income II
Standard Life Investments - MyFolio Multi Manager Income III

8 Feb 2012

Standard Life Investments - MyFolio Multi Manager Income III
Standard Life Investments - MyFolio Multi Manager Income IV

8 Feb 2012

Standard Life Investments - MyFolio Multi Manager Income IV
Standard Life Investments - MyFolio Multi Manager Income V

8 Feb 2012

Standard Life Investments - MyFolio Multi Manager Income V
Standard Life takes global approach to smaller companies

13 Feb 2012

Standard Life Investments has launched its global smaller companies fund to take advantage of opportunities across emerging and developed markets.
Standard Life's Robertson heads four new entries into Principal black list

13 Feb 2012

The £705m Standard Life UK equity high income fund leads a list of four new entries into the Principal black list.
Sting in the retail perspective

Online - February 2012

To say that this is a significant year for IFA firms would be something of an understatement. We all have less than a year to ensure our overall RDR readiness and, therefore, while some might see this as the end finally in sight, others will be concerned that time is running out to ensure all preparations are complete.
Tax fraudsters can come clean and avoid criminal prosecution

1 Feb 2012

New HMRC contractual disclosure facility is now in force.
TBMC - Hinckley & Rugby 3.25% Two-Year Discounted Buy-to-Let

13 Feb 2012

TBMC - Hinckley & Rugby 3.25% Two-Year Discounted Buy-to-Let
Teachers Building Society - Intermediary Exclusive 2-Year Discounted Variable Rate Mortgage

16 Feb 2012

Teachers Building Society - Intermediary Exclusive 2-Year Discounted Variable Rate Mortgage
Terry Smith lambasts Goodwin knighthood decision

2 Feb 2012

Fundsmith chief executive Terry Smith has criticised the decision to strip Fred Goodwin of his knighthood.
The 10 things customers should know about income protection

14 Feb 2012

The Protection Review and the Income Protection Task Force have produced a top 10 list of things customers should take into account when buying IP.
The angry view from a closed-life call centre

15 Feb 2012

Call centre worker has a few things to get off his chest about IFA professionalism.
The MPs who will scrutinise financial regulation plans

9 Feb 2012

The committee will meet on February 21 and conclude by March 20.
Think tank calls on FSA to abandon 16% budget hike

6 Feb 2012

Institute for Economic Affairs says rise will hit consumers and should be reversed.
Threadneedle Investments - European Absolute Alpha Fund

22 Feb 2012

Threadneedle Investments - European Absolute Alpha Fund
Ticketus money used by Whyte to takeover Glasgow Rangers

21 Feb 2012

£18m of the assets in the Octopus protected EIS has been accounted for and was used to pay off Rangers’ debt to Lloyds Banking Group.
Tisa appoints new chairman

28 Feb 2012

Tony Solway replaces John Brasington who steps down after 12 years in the role.
Tories slam Miliband over donations from "predatory capitalist"

22 Feb 2012

Conservatives attack Labour “hypocrisy” for taking donations and giving job to “asset stripper” Andrew Rosenfeld.
Towry agrees to pay over £930k in legal costs

14 Feb 2012

Towry has agreed to pay Raymond James legal costs in full plus VAT after it lost its case at the High Court earlier today.
Towry case will spark more non-dealing clauses in adviser contracts

15 Feb 2012

Law firm says more firms will look to impose non-dealing clauses in their adviser contracts in the wake of the Towry V Raymond James High Court case this week.
Towry judgment: Judge criticises 'argumentative' Towry evidence

14 Feb 2012

Allegation made by Towry that former Edward Jones “conspired” to breach their contracts were “without foundation”.
Towry loses Raymond James court case

14 Feb 2012

All cases against Raymond James and the seven former Edward Jones advisers have been dismissed.
TPR publishes new guides to employers' AE duties

10 Feb 2012

The Pensions Regulator has published an updated version of its step-by-step guide to automatic enrolment duties for large employers and their advisers.
Tracker fund sales reach record high in 2011, reports IMA

13 Feb 2012

The IMA has revealed that tracker fund sales reached a record high in 2011 of £1.9bn.
Treasury blocks Barclays tax avoidance attempt

28 Feb 2012

Barclays Bank is the target of a £500m Treasury clampdown on two “aggressive” tax avoidance schemes, according to reports.
Treasury Committee to grill regulator on MMR

27 Feb 2012

FSA chiefs are to be grilled by MPs on the Mortgage Market Review next month.
UBS appoints interim head of strategic alliances

28 Feb 2012

UBS Global Asset Management’s head of wholesale for Europe and the Middle East Rob Lay has assumed interim responsibility for strategic alliances.
UK inflation falls to 3.6%

14 Feb 2012

The UK consumer prices index has fallen to 3.6% per cent in January, according to the Office for National Statistics.
UK outlook cut as Moody’s takes action on Europe

14 Feb 2012

Moody’s Investors Service has given the UK’s triple-A credit rating a negative outlook.
UK to enter recession in 2012, warns Niesr

3 Feb 2012

The UK is set to enter recession in the first half of 2012, the National Institute of Economic and Social Research has warned.
UK unemployment reaches 2.67m

15 Feb 2012

UK unemployment rose by 48,000 to 2.67 million in the three months to December.
US government waters down Fatca requirements

8 Feb 2012

UK Government agrees to report information to the IRS on behalf of financial firms.
Virgin Money hires former HML chief

14 Feb 2012

Brian Brodie has joined Virgin as its new operations director.
Webb floats proposals for "defined aspiration" pensions

8 Feb 2012

Pensions minister Steve Webb says the hybrid scheme would have more flexibility than DB schemes and more certainty than DC schemes.
WH Ireland acquires Pritchard client list

29 Feb 2012

WH Ireland has acquired the 8,000 private client list and £400m in non-cash assets under management of embattled firm Pritchard Stockbrokers.
What's the bright idea?

Online - February 2012

In the Chinese calendar, 2012 is the year of the dragon. The dragon symbol of 2012 is an intelligent and laborious worker who never puts work aside although sometimes this leads to excess. The water dragon has enough courage to face challenges and easily finds the weak points that will stand in the way of his success. This is, I think, a fitting metaphor as we work through the challenges of the transition to RDR.
Widows links with B&CE for auto enrolment proposition

1 Mar 2012

Scottish Widows has linked with B&CE’s ‘People’s Pension’ as the provider finalises its proposition ahead of automatic enrolment.
Woodford: Europe still catching up in banking crisis

23 Feb 2012

Invesco Perpetual income guru Neil Woodford says there is still some ways to go before Europe catches up in addressing the banking crisis.
Woodford: I am not defensive

27 Feb 2012

Invesco Perpetual’s Neil Woodford says he is uncomfortable with being labelled “defensive”.
Woolwich to launch tracker-to-fixed hybrid

13 Feb 2012

Mortgage tracks 2.99% above base for two years then switches to 4.29% three-year fix.
Yorkshire BS lending up 46% in 2011

23 Feb 2012

YBS advanced £4.1bn in new lending in 2011, up 46% on £2.8bn in 2010.

Money MarketingOnline - February 2012

Money Marketing
Online - February 2012